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ICE acquires MarketAxess
30 July 2026 US
Image: pickup/stock.adobe.com
The Intercontinental Exchange (ICE) has come to a definitive agreement to acquire MarketAxess, forming a fixed income marketplace.
Under the terms of the agreement, ICE will acquire all outstanding shares of MarketAxess for US$167 per share in cash, a 33 per cent premium over 29 July 2026 closing price, valuing the company’s equity at US$6 billion and total enterprise at US$5.7 billion.
MarketAxess connects approximately 2,100 institutional investors and broker-dealers across more than 90 countries, enabling electronic trading in corporate bonds, municipal bonds, emerging market debt, Eurobonds, US Treasuries, and other fixed income instruments.
The combined company will provide an all-in-one platform integrating pre-trade analytics, multi-protocol execution for retail and institutional clients, and post-trade data, benchmarking, and compliance.
Jeff Sprecher, chairman and CEO of ICE, says: “For more than two decades, ICE has pursued a clear and consistent strategy: take the largest, least-efficient corners of global finance and apply technology and network effects to improve transparency. Acquiring MarketAxess is the natural next step in that journey.
“Together, we will build the fixed income ecosystem that investors have always deserved - one that is transparent, efficient, fully connected, and accessible to all.”
Warren Gardiner, chief financial officer of ICE, states: “This transaction exemplifies the discipline and long-term perspective that define how ICE approaches capital allocation.”
Chris Concannon, CEO of MarketAxess, adds: “MarketAxess contributes a leading fixed-income trading network and deep market expertise, while ICE brings additional retail and wealth trading protocols, strong data, connectivity, and a broader set of product capabilities.”
Under the terms of the agreement, ICE will acquire all outstanding shares of MarketAxess for US$167 per share in cash, a 33 per cent premium over 29 July 2026 closing price, valuing the company’s equity at US$6 billion and total enterprise at US$5.7 billion.
MarketAxess connects approximately 2,100 institutional investors and broker-dealers across more than 90 countries, enabling electronic trading in corporate bonds, municipal bonds, emerging market debt, Eurobonds, US Treasuries, and other fixed income instruments.
The combined company will provide an all-in-one platform integrating pre-trade analytics, multi-protocol execution for retail and institutional clients, and post-trade data, benchmarking, and compliance.
Jeff Sprecher, chairman and CEO of ICE, says: “For more than two decades, ICE has pursued a clear and consistent strategy: take the largest, least-efficient corners of global finance and apply technology and network effects to improve transparency. Acquiring MarketAxess is the natural next step in that journey.
“Together, we will build the fixed income ecosystem that investors have always deserved - one that is transparent, efficient, fully connected, and accessible to all.”
Warren Gardiner, chief financial officer of ICE, states: “This transaction exemplifies the discipline and long-term perspective that define how ICE approaches capital allocation.”
Chris Concannon, CEO of MarketAxess, adds: “MarketAxess contributes a leading fixed-income trading network and deep market expertise, while ICE brings additional retail and wealth trading protocols, strong data, connectivity, and a broader set of product capabilities.”
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