"Paul has the ideal background to lead MarketAxess Europe through our next phase of growth," said Richard M. McVey, MarketAxess Chairman and Chief Executive Officer. "He has extensive experience in bond and derivative markets and has successfully built new businesses in the credit default swap and technology space."

Mr. Ellis brings to MarketAxess an established track record in entrepreneurial technology growth ventures and considerable experience in capital markets. As Chief Executive Officer of CreditTrade, Inc., he led the business development of a leading voice broker for credit derivatives, specializing in credit default swaps (CDS), indices and structured products. Prior to CreditTrade, Mr. Ellis was Chief Executive Officer of Mutant Technology Ltd., a financial software company specializing in internet technology applications. Mr. Ellis began his career in financial services at Barclays Bank International, where over the course of 12 years his responsibility grew to Managing Director of the Financial Products Group, a global cross-asset class structured derivatives business. Mr. Ellis previously served as Captain in the British Army.

"MarketAxess has a unique, established franchise in the e-trading space for credit, and I am excited to join the team during a period of rapid growth," said Mr. Ellis.

Steve Gallagher, the former Head of MarketAxess Europe, will transition into a consulting role with the Company where he will assist, as needed, with business development initiatives. Mr. Gallagher successfully led the European business to higher levels of profitability during his three-plus years in the UK.