NYSE Parent ICE to Buy MarketAxess in $5.7 Billion Deal to Expand Fixed-Income Offerings
The deal would combine fixed-income trading, analytics and compliance on one platform and is expected to generate $100 million in annual cost savings.
- On Thursday, Intercontinental Exchange agreed to acquire MarketAxess Holdings for $167 per share in cash, representing an equity value of approximately $6 billion, the companies announced.
- ICE, parent of the New York Stock Exchange, seeks to unify the fixed-income trading lifecycle by combining MarketAxess's trading network with ICE's retail protocols, data capabilities, and connectivity tools.
- MarketAxess operates a network of roughly 2,100 institutional investors across more than 90 countries, while ICE plans to increase quarterly share repurchases to $400 million from $350 million.
- Stock markets responded immediately: MarketAxess shares jumped roughly 28% on Thursday before the opening bell, while both boards approved the transaction targeted to close in the first half of 2027.
- "Together, we will build the fixed-income ecosystem that investors have always deserved," ICE Chair and Chief Executive Officer Jeff Sprecher said, as ICE will finance the deal entirely with newly issued debt.
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26 Articles
The parent company of the New York Stock Exchange (NYSE) is acquiring bond trading platform MarketAxess Holdings. Intercontinental Exchange (ICE) is paying nearly $6 billion in cash for this (almost €5.3 billion). With the acquisition, ICE aims to further expand its fixed-income offering. "This fits in with the consolidation that has been underway among listed exchanges for years," says Jochem Visser, financial markets editor at BNR.
The Economic Times
Times of IndiaNYSE parent ICE to buy MarketAxess in $5.7 billion deal to expand fixed-income offerings
Intercontinental Exchange has made a significant move by agreeing to acquire the bond trading platform MarketAxess for a hefty $5.7 billion, reflecting a 33% premium over its latest closing price. This acquisition is poised to bolster ICE's fixed-income trading offerings, resulting in a notable 30% jump in MarketAxess shares after the announcement. The deal is anticipated to finalize in the first half of 2027.
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