MarketAxess to acquire algorithmic trading provider Pragma for $128M in cash and stock

On August 5, 2023, MarketAxess Holdings Inc. (the “ Company ”) entered into a Membership Interest Purchase Agreement (the “ Purchase Agreement ”) with Pragma Weeden Holdings LLC, a Delaware limited liability company (the “ Seller ”), Pragma Financial Systems LLC, a New York limited liability company (“ PFS ”), Pragma LLC, a New York limited liability company (“ PLLC ” and, together with PFS, the “ Purchased Entities ”), and, solely for certain limited purposes, PLLC’s chief executive officer, pursuant to which, upon the terms and subject to the conditions set forth therein, the Company will acquire from the Seller all of the outstanding ownership interests in the Purchased Entities (the “ Transaction ”).