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NEW YORK - MarketAxess Holdings Inc. (NASDAQ: MKTX), a prominent electronic trading platform provider for fixed-income securities with a market capitalization of $8.35 billion and strong financial health according to InvestingPro metrics, announced the appointment of Dean Berry as its new Group Chief Operating Officer and Chief Executive Officer for the Europe, Middle East, Africa (EMEA) and Asia-Pacific (APAC) regions.
Mr. Berry will oversee MarketAxess Global Operations, Risk, Product and Technology, enhancing his role with the responsibility of CEO for the EMEA and APAC businesses. His appointment is part of the company’s strategy to foster innovation and efficiency in the fixed-income markets on a global scale.
Chris Concannon, Chief Executive Officer of MarketAxess, expressed confidence in Berry’s ability to scale businesses profitably and his deep expertise in trading workflows, analytics, and electronic trading markets. "I look forward to the addition of Dean to my global management team," said Concannon. The company has demonstrated strong operational execution with a healthy 62.06% gross profit margin and 7.33% revenue growth over the last twelve months, as revealed by InvestingPro data.
Prior to joining MarketAxess, Berry served as Group Head of Workflows businesses at London Stock Exchange Group (LSEG) since January 2024 and held the position of interim co-Head of LSEG’s Data & Analytics business since December 2024. With a career spanning over two decades, Berry has held significant roles at BGC Partners and has been a fixed-income trader at institutions like Deutsche Bank and Société Générale.
Berry, who brings a wealth of international experience from his tenure in various financial hubs around the world, shared his enthusiasm about joining MarketAxess, highlighting his past experience in electronic trading and product innovation.
He is expected to take on his new role at MarketAxess in the fourth quarter of 2025 and will be based in the London office, reporting directly to Concannon.
MarketAxess operates a leading electronic trading platform that offers a combination of trading efficiency, diverse liquidity, and cost savings to institutional investors and broker-dealers globally. The company’s patented technology is utilized by approximately 2,100 firms for trading fixed-income securities, and its Open Trading® marketplace is recognized as a preferred all-to-all trading solution in the global credit markets. According to InvestingPro analysis, the company maintains exceptional financial stability with a current ratio of 8.86 and has consistently raised its dividend for 11 consecutive years, demonstrating strong shareholder commitment. Detailed insights about MarketAxess’s market position and growth potential are available in the comprehensive Pro Research Report, along with additional ProTips and financial metrics.
This announcement is based on a press release statement from MarketAxess Holdings Inc. and does not include any speculative content or endorsements of the claims.
In other recent news, MarketAxess Holdings Inc. reported its first-quarter 2025 earnings, showcasing a diluted earnings per share (EPS) of $1.87, surpassing the forecasted $1.80. However, the company’s revenue fell short of expectations, coming in at $208.6 million compared to the projected $211.5 million. In a strategic move, MarketAxess completed the acquisition of a 90% majority stake in the RFQ-hub platform, enhancing its capabilities in multi-asset and multi-dealer request-for-quote transactions. This acquisition aligns with MarketAxess’s efforts to expand its offerings in fixed-income ETFs and credit futures.
Additionally, Keefe, Bruyette & Woods raised MarketAxess’s stock price target to $226 while maintaining a Market Perform rating, citing the company’s recent earnings beat and the impact of the RFQ-hub acquisition. The firm noted a stronger-than-expected industry volume environment, particularly in the High Yield credit sector, but also mentioned that a higher tax rate could offset some positive factors. MarketAxess’s revenue for the quarter was reported at $289 million, up from the prior year’s $210 million, with services revenue growing by 7% to $27 million.
The company’s strategic focus on diversifying income streams and expanding electronic trading solutions was highlighted, with expectations for RFQ Hub revenue to grow by 15-20% in 2025. MarketAxess continues to leverage its technology investments, aiming to enhance trading efficiency and liquidity access across its platforms.
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