MarketAxess considers sale - WSJ

MarketAxess considers sale - WSJ

Electronic bond trading network MarketAxess is considering selling itself after receiving expressions of interest, according to the Wall Street Journal.

The US firm, which has a market capitalisation of around $915 million, could fetch $1.5 billion, says the WSJ, citing people familiar with the matter.

Founded in 2000 by JP Morgan, Chase Manhattan and Bear Sterns, MarketAxess gained more backers before completing an initial public offering in 2004.

It now claims over 850 institutional investors as active users of its trading platform, accessing liquidity provided by 81 broker-dealer clients. It posted net income for the second quarter of $11.9 million.

Bond-Trading Venue MarketAxess Weighs a Sale - WSJ

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