secwatch.observer — SEC 8-K summary
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Issuer:     MARKETAXESS HOLDINGS INC (MKTX)
CIK:        0001278021
Form:       8-K
Filed at:   2025-12-09T23:59:59+00:00
Accession:  0001193125-25-311939
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MarketAxess sets 8-9% annual revenue growth target, boosts buyback to $505M, plans $300M ASR
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- Medium-term targets (2026-2028): avg annual total revenue growth 8-9%; operating margin +75-125 bps/year.
- Board authorized $400M new stock repurchase; total outstanding authorization now $505M.
- Plans $300M accelerated stock repurchase (ASR) with JPMorgan; ~$240M shares at onset, final settlement Q1 2026.
- ASR funded by $80M cash and $220M revolver borrowings; trailing 12-month free cash flow $385M.
- YTD 2025 returned ~$120M in buybacks and $86M in dividends.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1278021/000119312525311939/0001193125-25-311939-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1278021/000119312525311939/mktx-20251209.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-311939

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer