$MKTX
MARKETAXESS HOLDINGS INC

2014 Form 10-K Financial Statement

#000156459015000953 Filed on February 25, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013
Revenue $262.8M $60.40M $238.7M
YoY Change 10.07% 24.28% 25.1%
Cost Of Revenue $32.10M $9.300M $34.30M
YoY Change -6.41% 29.17% 38.87%
Gross Profit $230.7M $51.20M $204.5M
YoY Change 12.81% 23.97% 23.04%
Gross Profit Margin 87.79% 84.77% 85.66%
Selling, General & Admin $94.80M $22.40M $83.10M
YoY Change 14.08% 30.23% 18.71%
% of Gross Profit 41.09% 43.75% 40.64%
Research & Development $17.69M $16.04M
YoY Change 10.28% 28.06%
% of Gross Profit 7.67% 7.84%
Depreciation & Amortization $17.40M $3.800M $13.10M
YoY Change 32.82% 65.22% 59.76%
% of Gross Profit 7.54% 7.42% 6.41%
Operating Expenses $144.2M $26.30M $131.5M
YoY Change 9.73% 36.98% 949.69%
Operating Profit $86.46M $24.90M $73.05M
YoY Change 18.36% 12.67% -52.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $118.5M $24.80M $107.3M
YoY Change 10.49% 11.71% 20.04%
Income Tax $43.73M $9.300M $38.72M
% Of Pretax Income 36.89% 37.5% 36.09%
Net Earnings $74.81M $23.10M $76.02M
YoY Change -1.59% 12.68% 26.55%
Net Earnings / Revenue 28.47% 38.25% 31.84%
Basic Earnings Per Share $2.03 $2.06
Diluted Earnings Per Share $1.97 $606.3K $2.01
COMMON SHARES
Basic Shares Outstanding 36.93M 37.63M shares 36.89M
Diluted Shares Outstanding 37.89M 37.89M

Balance Sheet

Concept 2014 2013 Q4 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $168.9M $132.7M $132.7M
YoY Change 27.28% 2.95% 2.95%
Cash & Equivalents $168.9M $132.7M $132.7M
Short-Term Investments
Other Short-Term Assets $6.700M $10.60M $10.60M
YoY Change -36.79% 30.86% 30.86%
Inventory
Prepaid Expenses
Receivables $33.80M $34.20M $34.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $209.4M $177.5M $177.5M
YoY Change 17.97% 5.65% 5.65%
LONG-TERM ASSETS
Property, Plant & Equipment $32.20M $32.70M $32.70M
YoY Change -1.53% 81.59% 81.67%
Goodwill $26.09M
YoY Change
Intangibles
YoY Change
Long-Term Investments $64.90M $67.70M $67.70M
YoY Change -4.14% 32.23% 32.23%
Other Assets $7.000M $7.300M $7.300M
YoY Change -4.11% -22.34% -22.34%
Total Long-Term Assets $170.5M $176.4M $176.4M
YoY Change -3.34% 57.73% 57.78%
TOTAL ASSETS
Total Short-Term Assets $209.4M $177.5M $177.5M
Total Long-Term Assets $170.5M $176.4M $176.4M
Total Assets $379.9M $353.9M $353.9M
YoY Change 7.35% 26.47% 26.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.00M $12.90M $12.90M
YoY Change -6.98% 4.88% 4.88%
Accrued Expenses $25.30M $24.00M $24.00M
YoY Change 5.42% 20.6% 20.6%
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 $43.20M $40.90M $40.90M
YoY Change 5.62% 27.02% 27.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.500M $2.700M $2.700M
YoY Change -7.41% -44.9% -44.9%
Total Long-Term Liabilities $2.500M $2.700M $2.700M
YoY Change -7.41% -44.9% -44.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.20M $40.90M $40.90M
Total Long-Term Liabilities $2.500M $2.700M $2.700M
Total Liabilities $45.70M $43.55M $43.50M
YoY Change 5.06% 17.3% 17.25%
SHAREHOLDERS EQUITY
Retained Earnings $51.04M
YoY Change -1004.36%
Common Stock $295.7M
YoY Change 4.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.27M
YoY Change 0.0%
Treasury Stock Shares $1.495M
Shareholders Equity $334.2M $310.4M $310.4M
YoY Change
Total Liabilities & Shareholders Equity $379.9M $353.9M $353.9M
YoY Change 7.35% 26.47% 26.48%

Cashflow Statement

Concept 2014 2013 Q4 2013
OPERATING ACTIVITIES
Net Income $74.81M $23.10M $76.02M
YoY Change -1.59% 12.68% 26.55%
Depreciation, Depletion And Amortization $17.40M $3.800M $13.10M
YoY Change 32.82% 65.22% 59.76%
Cash From Operating Activities $110.0M $23.60M $90.88M
YoY Change 20.99% -16.61% 11.4%
INVESTING ACTIVITIES
Capital Expenditures $4.627M -$8.500M $15.34M
YoY Change -69.83% 431.25% 197.63%
Acquisitions $37.83M
YoY Change
Other Investing Activities -$611.0K $0.00 $18.00K
YoY Change -3494.44% -100.0% -58.14%
Cash From Investing Activities -$13.03M -$8.500M -$69.12M
YoY Change -81.16% -808.33% -559.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.97M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.22M -1.700M -17.07M
YoY Change 252.72% -96.64% -87.46%
NET CHANGE
Cash From Operating Activities 110.0M 23.60M 90.88M
Cash From Investing Activities -13.03M -8.500M -69.12M
Cash From Financing Activities -60.22M -1.700M -17.07M
Net Change In Cash 36.70M 13.40M 4.684M
YoY Change 683.6% -163.51% -111.84%
FREE CASH FLOW
Cash From Operating Activities $110.0M $23.60M $90.88M
Capital Expenditures $4.627M -$8.500M $15.34M
Free Cash Flow $105.3M $32.10M $75.54M
YoY Change 39.43% 7.36% -1.16%

Facts In Submission

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AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
14775000
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8879000
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3039000
CY2013 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5001000
CY2013 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
5032000
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9769000
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2511000
CY2014 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5020000
CY2014 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
4243000
CY2014 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
17379000
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1331000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-643000
CY2014 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1725000
CY2013 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
296000
CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1204000
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-827000
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1714000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4607000
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3344000
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1846000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-412000
CY2014 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1309000
CY2013 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
4010000
CY2012 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
320000
CY2014 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
2365000
CY2013 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
2959000
CY2012 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-2871000
CY2014 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-248000
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1571000
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-462000
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-950000
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
364000
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2328000
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
109952000
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
90879000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
81582000
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
37827000
CY2013 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
9346000
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
30900000
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
23663000
CY2014 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
17574000
CY2013 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
12515000
CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
18313000
CY2014 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
16423000
CY2013 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
60755000
CY2012 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
16543000
CY2013 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19330000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1785000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2902000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2826000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2893000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2935000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
11999000
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
25340000
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3800000
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3800000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2100000
CY2014Q4 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
2
CY2014 mktx Lease Expiration Dates
LeaseExpirationDates
November 2015 and November 2020
CY2014 mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
CY2014 mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to three trading days
CY2014 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
7400000
CY2013 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
6000000
CY2012 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
3500000
CY2014Q4 us-gaap Deposits Assets
DepositsAssets
900000
CY2012 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-2684000
CY2013 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-58000
CY2014 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4627000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15337000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5153000
CY2014 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
10160000
CY2013 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
7945000
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3039000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8525000
CY2014 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5020000
CY2013 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5001000
CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
20003000
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
4243000
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5032000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
14775000
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
37974000
CY2012 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
5207000
CY2014 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-611000
CY2013 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
18000
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
43000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-13025000
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-69121000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
15030000
CY2014 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
23941000
CY2013 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
19837000
CY2012 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
64041000
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2511000
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
75133000
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-42000
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-307000
CY2012 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-298000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-60223000
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-17074000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-136175000
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-471000
CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-901000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1149000
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
36233000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3783000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-40712000
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
128908000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
169620000
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
33627000
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
30768000
CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15102000
CY2012 mktx Conversion Of Common Stock Non Voting To Common Stock Voting Amount Converted
ConversionOfCommonStockNonVotingToCommonStockVotingAmountConverted
15880000
CY2013 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
44791000
CY2013 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
6964000
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="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="text-align:justify;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></div>
CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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="text-align:justify;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>
CY2014 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2000-04-11
CY2014 mktx Cash Equivalents Maximum Period
CashEquivalentsMaximumPeriod
P3M
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2013 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2012 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2014 mktx Accounts Receivable Contractual Maturities Maximum
AccountsReceivableContractualMaturitiesMaximum
less than one year
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000
CY2014 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000
CY2013 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000
CY2014 mktx Allowance For Doubtful Accounts Receivable Write Off
AllowanceForDoubtfulAccountsReceivableWriteOff
0
CY2013 mktx Allowance For Doubtful Accounts Receivable Write Off
AllowanceForDoubtfulAccountsReceivableWriteOff
100000
CY2012 mktx Allowance For Doubtful Accounts Receivable Write Off
AllowanceForDoubtfulAccountsReceivableWriteOff
1400000
CY2014 mktx Post Contract Technical Support Term Period
PostContractTechnicalSupportTermPeriod
P1Y
CY2014 mktx Period Of Agreements For Revenue Recognition
PeriodOfAgreementsForRevenueRecognition
P2Y
CY2014 mktx Reclassification From Deferred Tax Assets To Income And Other Liability
ReclassificationFromDeferredTaxAssetsToIncomeAndOtherLiability
2300000
CY2014Q4 us-gaap Alternative Excess Net Capital
AlternativeExcessNetCapital
81100000
CY2014Q4 us-gaap Alternative Net Capital Requirement1
AlternativeNetCapitalRequirement1
12400000
CY2014Q4 mktx Money Market Funds Fair Value Disclosure
MoneyMarketFundsFairValueDisclosure
62126000
CY2014Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
127092000
CY2013Q4 mktx Money Market Funds Fair Value Disclosure
MoneyMarketFundsFairValueDisclosure
90536000
CY2013Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
157806000
CY2014 mktx Hedge Derivative Expiration Period
HedgeDerivativeExpirationPeriod
One-month period
CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
64839000
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
67628000
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
55000
CY2013Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
133000
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
31000
CY2013Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000
CY2014Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
36062000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
12332000
CY2014Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
28801000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
55410000
CY2014 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
17600000
CY2013 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
43400000
CY2012 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
42000000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
22626000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
15683000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
31000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
19000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
22626000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
15683000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
31000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
19000
CY2013Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
13255000
CY2013 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
242657000
CY2012 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
214683000
CY2013 mktx Business Acquisitions Pro Forma Income Loss Before Tax
BusinessAcquisitionsProFormaIncomeLossBeforeTax
107316000
CY2012 mktx Business Acquisitions Pro Forma Income Loss Before Tax
BusinessAcquisitionsProFormaIncomeLossBeforeTax
88361000
CY2013 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
68579000
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
61210000
CY2013 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.86
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.68
CY2013 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.81
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.62
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12202000
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5494000
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6707000
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
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
42000
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2300000
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
700000
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
400000
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
400000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
88674000
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
76818000
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
56489000
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
44115000
CY2014 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
10200000
CY2013 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
10900000
CY2012 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
5200000
CY2013 mktx Capitalized Software Development Costs Out Of Period Adjustments
CapitalizedSoftwareDevelopmentCostsOutOfPeriodAdjustments
2900000
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
31700000
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
26071000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
14402000
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6505000
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5958000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2287000
CY2014 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1456000
CY2013 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1014000
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1315000
CY2014 us-gaap Current Income Tax Expense Benefit
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39661000
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