$MKTX
MARKETAXESS HOLDINGS INC

2014 Q3 Form 10-Q Financial Statement

#000156459014004514 Filed on October 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3 2013 Q1
Revenue $64.20M $61.13M $53.65M
YoY Change 5.02% 31.75% 5.82%
Cost Of Revenue $7.900M $9.000M $7.400M
YoY Change -12.22% 45.16% 23.33%
Gross Profit $56.40M $52.10M $46.20M
YoY Change 8.25% 29.6% 3.36%
Gross Profit Margin 87.85% 85.22% 86.11%
Selling, General & Admin $23.60M $22.20M $19.20M
YoY Change 6.31% 30.59% -4.95%
% of Gross Profit 41.84% 42.61% 41.56%
Research & Development $4.509M $3.146M
YoY Change 40.64%
% of Gross Profit 8.65% 6.81%
Depreciation & Amortization $4.500M $3.600M $2.600M
YoY Change 25.0% 71.43% 36.84%
% of Gross Profit 7.98% 6.91% 5.63%
Operating Expenses $28.10M $4.509M $3.146M
YoY Change 523.2% 40.64% -85.7%
Operating Profit $28.30M $47.59M $43.05M
YoY Change -40.53% 28.65% 89.67%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $28.30M $26.39M $24.67M
YoY Change 7.25% 22.73% 8.68%
Income Tax $10.80M $8.129M $9.126M
% Of Pretax Income 38.16% 30.81% 36.99%
Net Earnings $17.50M $18.21M $15.33M
YoY Change -3.91% 35.09% 13.53%
Net Earnings / Revenue 27.26% 29.79% 28.57%
Basic Earnings Per Share $0.47 $0.49 $0.42
Diluted Earnings Per Share $0.46 $0.48 $0.41
COMMON SHARES
Basic Shares Outstanding 36.86M 36.92M 36.77M shares
Diluted Shares Outstanding 37.81M 37.97M 37.67M shares

Balance Sheet

Concept 2014 Q3 2013 Q3 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.1M $119.0M $125.9M
YoY Change 30.34% -20.72% 5.09%
Cash & Equivalents $155.1M $119.0M $125.9M
Short-Term Investments
Other Short-Term Assets $8.800M $10.50M $8.900M
YoY Change -16.19% 22.09% 30.88%
Inventory
Prepaid Expenses
Receivables $36.90M $36.90M $35.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $200.8M $166.4M $170.3M
YoY Change 20.67% -13.38% 6.7%
LONG-TERM ASSETS
Property, Plant & Equipment $32.80M $27.62M $18.70M
YoY Change 18.77% 49.28% 25.5%
Goodwill $26.23M $26.09M
YoY Change
Intangibles
YoY Change
Long-Term Investments $57.00M $58.40M $17.10M
YoY Change -2.4% 7.75% -71.55%
Other Assets $5.300M $10.70M $4.600M
YoY Change -50.47% 59.7% -19.3%
Total Long-Term Assets $162.1M $166.3M $112.6M
YoY Change -2.52% 47.42% -2.0%
TOTAL ASSETS
Total Short-Term Assets $200.8M $166.4M $170.3M
Total Long-Term Assets $162.1M $166.3M $112.6M
Total Assets $362.9M $332.7M $282.9M
YoY Change 9.08% 9.11% 3.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.30M $20.40M $19.20M
YoY Change -44.61% 63.2% 32.41%
Accrued Expenses $18.40M $19.20M $5.800M
YoY Change -4.17% 24.68% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.40M $39.60M $25.00M
YoY Change -15.66% 41.94% 23.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.300M $6.400M $5.400M
YoY Change -48.44% 25.49% 3.85%
Total Long-Term Liabilities $3.300M $6.400M $5.400M
YoY Change -48.44% 25.49% 3.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.40M $39.60M $25.00M
Total Long-Term Liabilities $3.300M $6.400M $5.400M
Total Liabilities $36.61M $46.07M $30.40M
YoY Change -20.54% 39.6% 18.75%
SHAREHOLDERS EQUITY
Retained Earnings $32.79M
YoY Change
Common Stock $289.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.27M
YoY Change
Treasury Stock Shares 1.495M shares
Shareholders Equity $326.3M $286.6M $252.5M
YoY Change
Total Liabilities & Shareholders Equity $362.9M $332.7M $282.9M
YoY Change 9.08% 9.11% 3.06%

Cashflow Statement

Concept 2014 Q3 2013 Q3 2013 Q1
OPERATING ACTIVITIES
Net Income $17.50M $18.21M $15.33M
YoY Change -3.91% 35.09% 13.53%
Depreciation, Depletion And Amortization $4.500M $3.600M $2.600M
YoY Change 25.0% 71.43% 36.84%
Cash From Operating Activities $32.20M $37.10M $10.28M
YoY Change -13.21% 35.4% -23.29%
INVESTING ACTIVITIES
Capital Expenditures -$2.700M -$4.100M $794.0K
YoY Change -34.15% -21.15% -141.79%
Acquisitions $37.83M
YoY Change
Other Investing Activities $8.800M -$44.10M -$64.00K
YoY Change -119.95% -1202.5% -100.36%
Cash From Investing Activities $6.000M -$48.20M -$5.544M
YoY Change -112.45% 3916.67% -134.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.50M -4.000M -7.927M
YoY Change 312.5% -21.57% -89.93%
NET CHANGE
Cash From Operating Activities 32.20M 37.10M 10.28M
Cash From Investing Activities 6.000M -48.20M -5.544M
Cash From Financing Activities -16.50M -4.000M -7.927M
Net Change In Cash 21.70M -15.10M -3.192M
YoY Change -243.71% -171.56% -93.54%
FREE CASH FLOW
Cash From Operating Activities $32.20M $37.10M $10.28M
Capital Expenditures -$2.700M -$4.100M $794.0K
Free Cash Flow $34.90M $41.20M $9.485M
YoY Change -15.29% 26.38% -38.01%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Develop Software
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us-gaap Use Of Estimates
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<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> <p style="margin-bottom:0pt;margin-top:8pt;text-indent:4.54%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></div>
us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain reclassifications have been made to the prior year&#8217;s Consolidated Financial Statements in order to conform to the current year presentation. Such reclassifications had no effect on previously reported net income. Specifically, the Company reclassified $2.3 million from deferred tax assets to income and other tax liabilities as of December 31, 2013.&nbsp;&nbsp;Management has determined that the impact of this reclassification was not material to the previously issued Consolidated Financial Statements.&nbsp;&nbsp; </p></div>
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dei Entity Incorporation Date Of Incorporation
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2000-04-11
mktx Cash Equivalents Maximum Period
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us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
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mktx Accounts Receivable Contractual Maturities Maximum
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less than one year
mktx Post Contract Technical Support Term Period
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P1Y
mktx Period Of Agreements For Revenue Recognition
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CY2014Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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19000
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
29720000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
12332000
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
27301000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
55410000
mktx Hedge Derivative Expiration Period
HedgeDerivativeExpirationPeriod
One-month period
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
13500000
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7743000
CY2014Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3117000
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4947000
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
1504000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
15683000
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
19000
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
0
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
0
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
1504000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
15683000
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
1000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
19000
CY2013Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
46683000
CY2013Q1 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
8856000
CY2013Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
37827000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
3733000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
13255000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
1718000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Assets Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssetsNoncurrent
2342000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
4622000
CY2013Q1 us-gaap Goodwill
Goodwill
26085000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
182215000
mktx Business Acquisitions Pro Forma Income Loss Before Tax
BusinessAcquisitionsProFormaIncomeLossBeforeTax
82517000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
53109000
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.44
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.40
CY2014Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12212000
CY2014Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4936000
CY2014Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7276000
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12218000
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3234000
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8984000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
CY2014Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2300000
CY2014Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2300000
CY2014Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
700000
CY2014Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000
CY2014Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
400000
CY2014Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
9280000
CY2013Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
6742000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
22297000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
20004000
CY2014Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1583000
CY2013Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1823000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4356000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4717000
CY2014Q3 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
227000
CY2013Q3 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
312000
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
520000
CY2014Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11090000
CY2013Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
8877000
CY2014Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-354000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
699000
us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
213000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
27173000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
25323000
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
602000
CY2013Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-380000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3979000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3885000
CY2014Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-73000
CY2013Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-79000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
512000
CY2014Q3 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
101000
CY2013Q3 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-289000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2529000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
4065000
us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-519000
CY2014Q3 mktx Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
10699000
CY2013Q4 mktx Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
12690000
CY2014Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7582000
CY2014Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
65000000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2241000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
382
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
19.25
CY2014Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
949000
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1046000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
950000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
966000
CY2013Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
50000000
CY2013Q1 mktx Line Of Credit Facility Additional Borrowing Capacity
LineOfCreditFacilityAdditionalBorrowingCapacity
50000000
CY2014Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
49900000
CY2013Q1 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P3Y
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
the federal funds effective rate plus 0.50% and (c) one month adjusted LIBOR plus 1.00% plus (ii) 0.50% or (B) the sum of (i) adjusted LIBOR plus (ii) 1.50%
mktx Line Of Credit Facility Basis Spread On Federal Funds Effective Rate
LineOfCreditFacilityBasisSpreadOnFederalFundsEffectiveRate
0.0050
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0100
mktx Line Of Credit Facility Basis Spread On Aggregate Interest Rate Option One
LineOfCreditFacilityBasisSpreadOnAggregateInterestRateOptionOne
0.0050
mktx Line Of Credit Facility Basis Spread On Aggregate Interest Rate Option Two
LineOfCreditFacilityBasisSpreadOnAggregateInterestRateOptionTwo
0.0150
mktx Line Of Credit Facility Default Percentage
LineOfCreditFacilityDefaultPercentage
0.0200
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0030
mktx Percentage Of Foreign Subsidiary Interest Pledged
PercentageOfForeignSubsidiaryInterestPledged
0.65
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
395000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1780000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2925000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2860000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2942000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
15326000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
26228000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2900000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3000000
CY2014Q3 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
2
mktx Lease Expiration Dates
LeaseExpirationDates
November 2015 and November 2020
CY2014Q3 mktx Future Lease Obligations From Subleases Agreement
FutureLeaseObligationsFromSubleasesAgreement
2300000
CY2014Q3 us-gaap Loss Contingency Range Of Possible Loss Minimum
LossContingencyRangeOfPossibleLossMinimum
0
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0
mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to three trading days
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
4700000
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
4500000
CY2014Q3 us-gaap Deposits Assets
DepositsAssets
900000
CY2013Q4 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
7600000
CY2013Q4 mktx Discontinued Operations Percentage Of Shares Sold
DiscontinuedOperationsPercentageOfSharesSold
1.00
CY2013Q4 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
11000000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2009000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
5967000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
2071000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
6296000
CY2013Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-62000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-329000
CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-16000
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-119000
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
More than 10%
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.148
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.126
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
454185
CY2014Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35000000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25400000
us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2015-12-31

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