{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-204506","form_type":"8-K","ticker":"MKTX","cik":"0001278021","company_name":"MARKETAXESS HOLDINGS INC","filed_at":"2023-08-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.415586+00:00","generated_at":"2026-06-12T03:48:53.448666+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"MarketAxess to acquire algorithmic trading provider Pragma for $128M in cash and stock","bullets":["Total consideration: $75M cash plus $53M in MKTX common stock, subject to customary adjustments.","Pragma handled $2 trillion in algorithmic order flow across equities, FX, and fixed-income in 2022.","Transaction expected to close in Q4 2023, pending HSR Act clearance, FINRA approval, and other conditions.","Pragma founder and CEO David Mechner to remain; non-compete and non-solicitation for two years.","Acquisition aims to accelerate MarketAxess’ AI-driven execution algorithms and fixed-income automation."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-204506","json":"https://secwatch.observer/filing/0001193125-23-204506.json","markdown":"https://secwatch.observer/filing/0001193125-23-204506.md","text":"https://secwatch.observer/filing/0001193125-23-204506.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1278021/000119312523204506/0001193125-23-204506-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1278021/000119312523204506/d538001d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T03:48:53.448666+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e9ba0ecdff2a21ace5d33f2355f50512ce7cb803","claim":"MARKETAXESS HOLDINGS INC entered into Membership Interest Purchase Agreement with Pragma Weeden Holdings LLC valued at $75 million cash plus $53 million in common stock (effective 2023-08-05).","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1278021/000119312523204506/0001193125-23-204506-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Pragma Weeden Holdings LLC"},{"label":"Value","value":"$75 million cash plus $53 million in common stock"},{"label":"Effective","value":"2023-08-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}