$MKTX
MARKETAXESS HOLDINGS INC

2018 Q2 Form 10-Q Financial Statement

#000156459018017609 Filed on July 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2 2016 Q4
Revenue $107.0M $96.31M $94.40M
YoY Change 11.06% -0.34% 23.24%
Cost Of Revenue $5.800M $4.800M $9.200M
YoY Change 20.83% -43.53% 26.03%
Gross Profit $101.2M $91.50M $85.30M
YoY Change 10.6% 3.86% 22.91%
Gross Profit Margin 94.61% 95.0% 90.36%
Selling, General & Admin $41.30M $36.20M $30.60M
YoY Change 14.09% 9.7% 10.47%
% of Gross Profit 40.81% 39.56% 35.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.800M $4.800M $4.300M
YoY Change 20.83% 6.67% -6.52%
% of Gross Profit 5.73% 5.25% 5.04%
Operating Expenses $49.10M $42.50M $34.90M
YoY Change 15.53% -7.79% 7.72%
Operating Profit $52.03M $48.99M $50.40M
YoY Change 6.22% 16.6% 36.22%
Interest Expense $1.400M $800.0K
YoY Change 75.0%
% of Operating Profit 2.69% 1.63%
Other Income/Expense, Net $1.176M $588.0K
YoY Change 100.0%
Pretax Income $53.21M $49.57M $50.30M
YoY Change 7.34% -1.93% 35.95%
Income Tax $12.72M $11.55M $17.20M
% Of Pretax Income 23.91% 23.3% 34.19%
Net Earnings $40.49M $38.02M $33.20M
YoY Change 6.48% 14.87% 35.51%
Net Earnings / Revenue 37.85% 39.48% 35.17%
Basic Earnings Per Share $1.03
Diluted Earnings Per Share $1.07 $997.4K $880.6K
COMMON SHARES
Basic Shares Outstanding 36.95M 37.58M
Diluted Shares Outstanding 37.86M

Balance Sheet

Concept 2018 Q2 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.7M $128.1M $362.6M
YoY Change 33.26% -16.44% 27.5%
Cash & Equivalents $170.7M $128.1M $168.2M
Short-Term Investments $194.4M
Other Short-Term Assets $21.00M $21.10M $11.60M
YoY Change -0.47% 56.3% 17.17%
Inventory
Prepaid Expenses
Receivables $61.90M $55.20M $50.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $253.6M $204.4M $230.5M
YoY Change 24.07% -11.01% -7.84%
LONG-TERM ASSETS
Property, Plant & Equipment $50.10M $34.60M $31.10M
YoY Change 44.8% 9.84% 0.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $249.6M $237.4M $194.4M
YoY Change 5.14% 62.27% 129.52%
Other Assets $1.500M $7.400M $8.600M
YoY Change -79.73% 21.31% -6.52%
Total Long-Term Assets $364.0M $342.6M $297.5M
YoY Change 6.25% 38.48% 57.46%
TOTAL ASSETS
Total Short-Term Assets $253.6M $204.4M $230.5M
Total Long-Term Assets $364.0M $342.6M $297.5M
Total Assets $617.6M $547.0M $528.0M
YoY Change 12.91% 14.65% 20.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00M $15.00M $15.10M
YoY Change 33.33% -0.66% 22.76%
Accrued Expenses $23.60M $23.10M $34.80M
YoY Change 2.16% 14.36% 18.77%
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 $56.60M $42.80M $57.50M
YoY Change 32.24% 11.75% 24.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.600M $3.100M $2.500M
YoY Change 16.13% 19.23% 8.7%
Total Long-Term Liabilities $3.600M $3.100M $2.500M
YoY Change 16.13% 19.23% 8.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.60M $42.80M $57.50M
Total Long-Term Liabilities $3.600M $3.100M $2.500M
Total Liabilities $60.20M $45.80M $60.00M
YoY Change 31.44% 11.71% 24.15%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $557.4M $501.2M $468.0M
YoY Change
Total Liabilities & Shareholders Equity $617.6M $547.0M $528.0M
YoY Change 12.91% 14.65% 20.26%

Cashflow Statement

Concept 2018 Q2 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income $40.49M $38.02M $33.20M
YoY Change 6.48% 14.87% 35.51%
Depreciation, Depletion And Amortization $5.800M $4.800M $4.300M
YoY Change 20.83% 6.67% -6.52%
Cash From Operating Activities $54.40M $38.60M $65.70M
YoY Change 40.93% 3.49% 36.31%
INVESTING ACTIVITIES
Capital Expenditures -$16.70M -$5.100M -$4.700M
YoY Change 227.45% 18.6% 11.9%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$20.20M -$24.60M
YoY Change -100.5% -353.61%
Cash From Investing Activities -$16.70M -$25.30M -$29.30M
YoY Change -33.99% 488.37% -632.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.50M -23.80M -27.90M
YoY Change -5.46% 36.0% 92.41%
NET CHANGE
Cash From Operating Activities 54.40M 38.60M 65.70M
Cash From Investing Activities -16.70M -25.30M -29.30M
Cash From Financing Activities -22.50M -23.80M -27.90M
Net Change In Cash 15.20M -10.50M 8.500M
YoY Change -244.76% -167.74% -78.32%
FREE CASH FLOW
Cash From Operating Activities $54.40M $38.60M $65.70M
Capital Expenditures -$16.70M -$5.100M -$4.700M
Free Cash Flow $71.10M $43.70M $70.40M
YoY Change 62.7% 5.05% 34.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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OperatingIncomeLoss
52034000
CY2018Q2 us-gaap Net Income Loss
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CY2017Q2 us-gaap Net Income Loss
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us-gaap Depreciation Amortization And Accretion Net
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CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Depreciation Amortization And Accretion Net
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us-gaap Share Based Compensation
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Income Taxes
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Investment Income Nonoperating
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us-gaap Investment Income Nonoperating
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7601000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-277000
us-gaap Other Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2017Q2 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2018Q2 us-gaap Nonoperating Income Expense
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CY2017Q2 us-gaap Nonoperating Income Expense
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CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
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us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2018Q2 us-gaap Earnings Per Share Diluted
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CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018Q2 us-gaap Income Tax Expense Benefit
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CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2330000
us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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us-gaap Payments To Acquire Property Plant And Equipment
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16035000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Develop Software
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us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
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us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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-51880000
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Use Of Estimates
UseOfEstimates
<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 GAAP 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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;">Certain reclassifications have been made to the prior period&#8217;s Consolidated Financial Statements in order to conform to the current year presentation. The Company reclassified certain revenue line items on the consolidated statements of operations to separately reflect information service revenues and post-trade service revenues. <font style="color:#000000;">The Company also revised the format of the Consolidated Statement of Operations to separately present non-operating activities. Such activities include investment income, unrealized and realized gains (losses) on trading securities, foreign exchange gains (losses), investment advisory fees and other miscellaneous non-operating activities. Accordingly, the Company reclassified these amounts from the various revenue and expense line items to Other income (expense).</font> The reclassifications had no effect on previously reported income before income taxes or net income. </p></div>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2000-04-11
mktx Cash Equivalents Maximum Period
CashEquivalentsMaximumPeriod
P3M
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
mktx Number Of Revenue Streams
NumberOfRevenueStreams
4
mktx Description Of Commission Revenue
DescriptionOfCommissionRevenue
For trades that the Company executes between and among institutional investor and broker-dealer clients on a matched principal basis by serving as counterparty to both the buyer and the seller, the Company earns its commission through the difference in price between the two trades.
mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to two trading days
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2660000
mktx Contract With Customer Liability Payments Received
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10175000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9220000
mktx Contract With Customer Liability Foreign Currency Translation
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20000
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3595000
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11400000
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P22M
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140700000
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14900000
CY2018Q2 mktx Money Market Funds Fair Value Disclosure
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101896000
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88562000
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mktx Hedge Derivative Expiration Period
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P1M
CY2018Q2 us-gaap Trading Securities Cost
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99155000
CY2017Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
94307000
CY2018Q2 mktx Trading Securities Accumulated Gross Unrealized Gain Before Tax
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17000
CY2017Q4 mktx Trading Securities Accumulated Gross Unrealized Gain Before Tax
TradingSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
468000
CY2018Q2 mktx Trading Securities Accumulated Gross Unrealized Loss Before Tax
TradingSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
600000
CY2017Q4 mktx Trading Securities Accumulated Gross Unrealized Loss Before Tax
TradingSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
306000
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TradingSecurities
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TradingSecurities
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CY2018Q2 mktx Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
251016000
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239833000
us-gaap Amortization Of Intangible Assets
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200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
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400000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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184800000
CY2018Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12162000
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9007000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3346000
CY2018Q2 mktx Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
29000
CY2017Q4 mktx Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
477000
CY2018Q2 mktx Marketable Securities Accumulated Gross Unrealized Loss Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1454000
CY2017Q4 mktx Marketable Securities Accumulated Gross Unrealized Loss Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
789000
CY2018Q2 mktx Marketable Securities Within One Year Fair Value
MarketableSecuritiesWithinOneYearFairValue
153318000
CY2018Q2 mktx Marketable Securities After One Through Five Years Fair Value
MarketableSecuritiesAfterOneThroughFiveYearsFairValue
96273000
CY2018Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3155000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12167000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8821000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
24288000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23316000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
400000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
400000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
400000
CY2018Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
8792000
CY2017Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
9030000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
16762000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
17345000
CY2018Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2077000
CY2017Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1470000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3997000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2928000
CY2018Q2 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
2415000
CY2017Q2 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1498000
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3529000
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3043000
CY2018Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
13284000
CY2017Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11998000
CY2018Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-505000
CY2017Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-479000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
341000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1060000
CY2018Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-101000
CY2017Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-72000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
29000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
94000
CY2018Q2 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
45000
CY2017Q2 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
103000
us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1138000
us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
224000
CY2018Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-561000
CY2017Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-448000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1508000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1378000
CY2018Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
100000
CY2017Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5300000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2000000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
11000000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
11700000
mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Deferred Tax Assets Provisional Income Tax Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDeferredTaxAssetsProvisionalIncomeTaxBenefit
6700000
mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax For Accumulated Foreign Earnings Provisional Tax Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxForAccumulatedForeignEarningsProvisionalTaxBenefit
5000000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3650000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3524000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7601000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7468000
CY2018Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
27200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
922000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1243000
CY2015Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
100000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
mktx Non Qualified Deferred Cash Incentive Plan Maximum Eligibility Percentage Of Employees
NonQualifiedDeferredCashIncentivePlanMaximumEligibilityPercentageOfEmployees
1.00
CY2018Q2 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
4400000
CY2017Q2 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
2900000
CY2018Q2 us-gaap Line Of Credit
LineOfCredit
1700000
CY2015Q4 mktx Line Of Credit Facility Additional Borrowing Capacity
LineOfCreditFacilityAdditionalBorrowingCapacity
50000000
CY2018Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
98300000
CY2015Q4 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P2Y
mktx Percentage Of Foreign Subsidiary Interest Pledged
PercentageOfForeignSubsidiaryInterestPledged
0.65
mktx Operating Leases Expiration Date
OperatingLeasesExpirationDate
2033-12-31
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2422000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
9626000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10741000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
10135000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9104000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
99067000
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
141095000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
6300000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2500000
CY2018Q2 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
1
mktx Lease Expiration Dates
LeaseExpirationDates
2020-11
CY2018Q2 us-gaap Contractual Obligation
ContractualObligation
600000
mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
28700000
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
23200000
CY2018Q2 us-gaap Deposits Assets
DepositsAssets
1200000
CY2017Q2 us-gaap Deposits Assets
DepositsAssets
1100000
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0

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