$MKTX
MARKETAXESS HOLDINGS INC

2015 Q1 Form 10-Q Financial Statement

#000156459015002831 Filed on April 24, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q1
Revenue $76.77M $70.20M $63.40M
YoY Change 21.09% 16.23% 18.17%
Cost Of Revenue $7.600M $7.800M $8.500M
YoY Change -10.59% -16.13% 14.86%
Gross Profit $69.20M $62.30M $54.90M
YoY Change 26.05% 21.68% 18.83%
Gross Profit Margin 90.14% 88.75% 86.6%
Selling, General & Admin $26.00M $24.40M $23.10M
YoY Change 12.55% 8.93% 20.31%
% of Gross Profit 37.57% 39.17% 42.08%
Research & Development $4.338M $4.492M
YoY Change -3.43% 42.78%
% of Gross Profit 6.27% 8.18%
Depreciation & Amortization $4.600M $4.400M $4.100M
YoY Change 12.2% 15.79% 57.69%
% of Gross Profit 6.65% 7.06% 7.47%
Operating Expenses $38.27M $28.90M $4.492M
YoY Change 751.94% 9.89% 42.78%
Operating Profit $30.93M $33.40M $50.41M
YoY Change -38.64% 34.14% 17.08%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $38.50M $33.50M $27.71M
YoY Change 38.96% 35.08% 12.31%
Income Tax $13.91M $11.90M $10.23M
% Of Pretax Income 36.13% 35.52% 36.93%
Net Earnings $24.59M $21.60M $17.48M
YoY Change 40.73% -6.49% 14.02%
Net Earnings / Revenue 32.03% 30.77% 27.56%
Basic Earnings Per Share $0.67 $0.47
Diluted Earnings Per Share $0.65 $572.9K $0.46
COMMON SHARES
Basic Shares Outstanding 36.71M 37.12M
Diluted Shares Outstanding 37.63M 38.10M

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.0M $168.9M $130.0M
YoY Change 23.85% 27.28% 3.26%
Cash & Equivalents $161.0M $168.9M $130.0M
Short-Term Investments
Other Short-Term Assets $7.200M $6.700M $9.300M
YoY Change -22.58% -36.79% 4.49%
Inventory
Prepaid Expenses
Receivables $46.10M $33.80M $39.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $214.3M $209.4M $178.4M
YoY Change 20.12% 17.97% 4.76%
LONG-TERM ASSETS
Property, Plant & Equipment $31.19M $32.19M $33.39M
YoY Change -6.6% -1.58% 78.57%
Goodwill $26.09M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $62.20M $64.90M $63.50M
YoY Change -2.05% -4.14% 271.35%
Other Assets $5.100M $7.000M $2.900M
YoY Change 75.86% -4.11% -36.96%
Total Long-Term Assets $164.4M $170.5M $168.0M
YoY Change -2.13% -3.36% 49.18%
TOTAL ASSETS
Total Short-Term Assets $214.3M $209.4M $178.4M
Total Long-Term Assets $164.4M $170.5M $168.0M
Total Assets $378.7M $379.9M $346.4M
YoY Change 9.33% 7.34% 22.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.80M $12.00M $19.20M
YoY Change -33.33% -6.98% 0.0%
Accrued Expenses $9.000M $25.30M $6.200M
YoY Change 45.16% 5.42% 6.9%
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 $31.40M $43.20M $25.40M
YoY Change 23.62% 5.62% 1.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.700M $2.500M $2.700M
YoY Change 0.0% -7.41% -50.0%
Total Long-Term Liabilities $2.700M $2.500M $2.700M
YoY Change 0.0% -7.41% -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.40M $43.20M $25.40M
Total Long-Term Liabilities $2.700M $2.500M $2.700M
Total Liabilities $34.00M $45.68M $28.11M
YoY Change 20.94% 4.89% -7.53%
SHAREHOLDERS EQUITY
Retained Earnings $118.9M $101.8M $62.47M
YoY Change 90.4% 99.47%
Common Stock $309.3M $307.1M $295.7M
YoY Change 4.59% 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $79.19M $70.25M $35.66M
YoY Change 122.06% 117.66%
Treasury Stock Shares $2.259M $2.141M 1.549M shares
Shareholders Equity $344.7M $334.2M $318.3M
YoY Change
Total Liabilities & Shareholders Equity $378.7M $379.9M $346.4M
YoY Change 9.33% 7.34% 22.44%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q1
OPERATING ACTIVITIES
Net Income $24.59M $21.60M $17.48M
YoY Change 40.73% -6.49% 14.02%
Depreciation, Depletion And Amortization $4.600M $4.400M $4.100M
YoY Change 12.2% 15.79% 57.69%
Cash From Operating Activities $10.03M $41.40M $10.15M
YoY Change -1.11% 75.42% -1.28%
INVESTING ACTIVITIES
Capital Expenditures $817.0K -$3.400M $1.622M
YoY Change -49.63% -60.0% 104.28%
Acquisitions $37.83M
YoY Change 0.0%
Other Investing Activities -$19.00K -$8.200M $6.000K
YoY Change -416.67% -109.38%
Cash From Investing Activities -$1.048M -$11.50M -$449.0K
YoY Change 133.41% 35.29% -91.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.939M $3.386M
YoY Change 164.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.24M -16.20M -11.92M
YoY Change 44.69% 852.94% 50.32%
NET CHANGE
Cash From Operating Activities 10.03M 41.40M 10.15M
Cash From Investing Activities -1.048M -11.50M -449.0K
Cash From Financing Activities -17.24M -16.20M -11.92M
Net Change In Cash -8.255M 13.70M -2.218M
YoY Change 272.18% 2.24% -30.51%
FREE CASH FLOW
Cash From Operating Activities $10.03M $41.40M $10.15M
Capital Expenditures $817.0K -$3.400M $1.622M
Free Cash Flow $9.217M $44.80M $8.525M
YoY Change 8.12% 39.56% -10.12%

Facts In Submission

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CY2015Q1 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="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>
CY2015Q1 dei Entity Incorporation Date Of Incorporation
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-428000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7876000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2646000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132691000
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
130045000
CY2015Q1 mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to three trading days
CY2014Q4 mktx Money Market Funds Fair Value Disclosure
MoneyMarketFundsFairValueDisclosure
62126000
CY2015Q1 mktx Cash Equivalents Maximum Period
CashEquivalentsMaximumPeriod
P3M
CY2015Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2015Q1 mktx Accounts Receivable Contractual Maturities Maximum
AccountsReceivableContractualMaturitiesMaximum
less than one year
CY2015Q1 mktx Post Contract Technical Support Term Period
PostContractTechnicalSupportTermPeriod
P1Y
CY2015Q1 mktx Period Of Agreements For Revenue Recognition
PeriodOfAgreementsForRevenueRecognition
P2Y
CY2015Q1 us-gaap Alternative Excess Net Capital
AlternativeExcessNetCapital
84800000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
22626000
CY2015Q1 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
8000
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
31000
CY2015Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
35535000
CY2014Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
36062000
CY2015Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
26660000
CY2014Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
28801000
CY2015Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
8000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
31000
CY2015Q1 mktx Hedge Derivative Expiration Period
HedgeDerivativeExpirationPeriod
One-month period
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
10500000
CY2014Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3800000
CY2015Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
15357000
CY2015Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
15357000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
22626000
CY2015Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
8000
CY2014Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
31000
CY2015Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12189000
CY2015Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6051000
CY2015Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6138000
CY2015Q1 us-gaap Alternative Net Capital Requirement1
AlternativeNetCapitalRequirement1
8900000
CY2015Q1 mktx Money Market Funds Fair Value Disclosure
MoneyMarketFundsFairValueDisclosure
51944000
CY2015Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
114190000
CY2014Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
127092000
CY2015Q1 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
62068000
CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
64839000
CY2015Q1 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
135000
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
55000
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
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000
CY2014Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2300000
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
700000
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
400000
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
400000
CY2015Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7316000
CY2014Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4994000
CY2015Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1478000
CY2014Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1186000
CY2015Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
520000
CY2014Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-267000
CY2015Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9314000
CY2014Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5913000
CY2015Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3840000
CY2014Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3331000
CY2015Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
624000
CY2014Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
511000
CY2015Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
131000
CY2014Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
478000
CY2015Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
4595000
CY2014Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
4320000
CY2015Q1 mktx Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
10648000
CY2014Q4 mktx Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
12468000
CY2015Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7371000
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7428000
CY2015Q1 mktx Deferred Tax Assets Liabilities Less Foreign Entity Net
DeferredTaxAssetsLiabilitiesLessForeignEntityNet
3277000
CY2014Q4 mktx Deferred Tax Assets Liabilities Less Foreign Entity Net
DeferredTaxAssetsLiabilitiesLessForeignEntityNet
5040000
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3042000
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2316000
CY2015Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
25200000
CY2015Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
920000
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
975000
CY2013Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
50000000
CY2013Q1 mktx Line Of Credit Facility Additional Borrowing Capacity
LineOfCreditFacilityAdditionalBorrowingCapacity
50000000
CY2015Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
49800000
CY2013Q1 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P3Y
CY2015Q1 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%
CY2015Q1 mktx Line Of Credit Facility Basis Spread On Federal Funds Effective Rate
LineOfCreditFacilityBasisSpreadOnFederalFundsEffectiveRate
0.0050
CY2015Q1 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0100
CY2015Q1 mktx Line Of Credit Facility Basis Spread On Aggregate Interest Rate Option One
LineOfCreditFacilityBasisSpreadOnAggregateInterestRateOptionOne
0.0050
CY2015Q1 mktx Line Of Credit Facility Basis Spread On Aggregate Interest Rate Option Two
LineOfCreditFacilityBasisSpreadOnAggregateInterestRateOptionTwo
0.0150
CY2015Q1 mktx Line Of Credit Facility Default Percentage
LineOfCreditFacilityDefaultPercentage
0.0200
CY2015Q1 us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0030
CY2015Q1 mktx Percentage Of Foreign Subsidiary Interest Pledged
PercentageOfForeignSubsidiaryInterestPledged
0.65
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1723000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3360000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3284000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3005000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2873000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
11590000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
25835000
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
900000
CY2014Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
900000
CY2015Q1 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
2
CY2015Q1 mktx Lease Expiration Dates
LeaseExpirationDates
November 2015 and November 2020
CY2015Q1 us-gaap Contractual Obligation
ContractualObligation
1700000
CY2015Q1 mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
CY2015Q1 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
3500000
CY2014Q1 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
1100000
CY2015Q1 us-gaap Deposits Assets
DepositsAssets
900000
CY2015Q1 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2014Q1 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2014Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35000000
CY2014Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
65000000
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
117400
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
8900000
CY2015Q1 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2015-12-31
CY2015Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
53100000

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