MarketAxess (MKTX)

Company ID: 286 | CIK: 0001278021
10-Q view:
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Segments are charted by their disclosed metrics (revenue, segment profit, etc.). Each line is a single segment. Reconciliation/corporate items are excluded. Major customers are shown as a percentage of revenue. Operational KPIs are grouped by metric concept; sub-metrics appear as separate lines.

Geographic Segments

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Business Unit / Product Segments

Major Customers (% of Revenue)

Operational KPIs

Open Trading liquidity providers (active_buyers)

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Average variable fee per million (arpu)

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Securities under management (aum)

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International Active Client Firms (customers)

Trading Volume (gmv)

Technology Professionals (headcount)

Adjusted TRACE market volume (other)

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Adjusted market share (other)

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Algorithmic dealer responses (other)

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Algorithmic price responses (other)

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Algorithmic response coverage (other)

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Algorithmic responses (other)

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Auto-X RFQ no-touch share (other)

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Auto-X RFQ trade count share (other)

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Auto-X RFQ volume share (other)

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Automated trading volume (other)

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Available borrowing capacity (other)

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Available credit facility capacity (other)

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Average Variable Transaction Fee (other)

Average Variable Transaction Fee Per Million (other)

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Average credit variable transaction fee (other)

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Average daily volume (other)

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Average fee per million (other)

Average fee per million traded (other)

Average rates variable transaction fee (other)

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Average total fee per million (other)

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Average transaction fee (other)

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Average transaction fee per million (other)

Average variable fee per million (other)

Average variable transaction fee (other)

Average variable transaction fee per $1 million (other)

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Average variable transaction fee per million (other)

Avg variable transaction fee (other)

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Avg variable transaction fee per million (other)

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Axess All daily transactions (other)

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Bonds priced by Composite+ (other)

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Broker-dealer clients (other)

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Broker-dealer net capital excess (other)

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Broker-dealer underwriting coverage (other)

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Cash and investments (other)

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Cash dividends declared per share (other)

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Clearing costs ratio (other)

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Client countries (other)

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Client price improvement (other)

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Client underwriting share (other)

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Client volume concentration (other)

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Clients trading three or more products (other)

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Common Stock Outstanding (other)

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Common shares outstanding (other)

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Common stock outstanding (other)

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Composite Corporate Bond ADV (other)

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Countries served (other)

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Countries with active clients (other)

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Countries with clients (other)

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Credit facility capacity (other)

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Credit spread (other)

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Credit spread volatility (other)

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Credit trading volume (other)

Credit transaction fee (other)

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Credit volume by client type (other)

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Credit volume by initiator (other)

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Credit volume via Dealer RFQ (other)

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Credit volume via Open Trading (other)

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Credit volume via RFQ (other)

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Credit volume via automated protocols (other)

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Credit yield spread (other)

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Customer reserve balance (other)

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Customer segregated cash (other)

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Daily bond indices (other)

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Dealer algorithmic responses (other)

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Disclosed RFQ credit volume share (other)

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Disclosed RFQ share of credit volume (other)

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Disclosed RFQ volume share (other)

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EBITDA (other)

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EBITDA margin (other)

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Electronic market share (other)

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Estimated TRACE high-grade volume (other)

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Estimated TRACE market volume (other)

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Estimated U.S. high-grade market share (other)

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Estimated U.S. high-grade market volume (other)

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Estimated market TRACE volume (other)

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Estimated market share (other)

Estimated market volume (other)

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Eurobonds and EM share of credit ADV (other)

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European high-grade volume (other)

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Excess net capital (other)

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Excess regulatory capital (other)

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Excess regulatory net capital (other)

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FINRA TRACE market volume (other)

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FINRA TRACE volume (other)

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Fixed monthly distribution fees (other)

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Free cash flow (other)

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Green Bond Market Share (other)

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Green bond market share (other)

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Green bond trading volume (other)

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High-yield market share (other)

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Indicative bids and offers (other)

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Indicative inventory on platform (other)

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Institutional-initiated credit volume share (other)

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Instruments covered (other)

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International ADV (other)

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International revenue share (other)

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Inventory Line Items (other)

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Inventory Value (other)

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Inventory line items (other)

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Investor STP connections (other)

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Issued patents (other)

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Liquidity Provider Cost Savings (other)

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Liquidity Taker Cost Savings (other)

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Local currencies traded (other)

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Local market currencies (other)

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Market Share (other)

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Market TRACE volume (other)

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Market Value of Non-Affiliate Shares (other)

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Market share (other)

Market share of TRACE high-grade volume (other)

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Market share of TRACE volume (other)

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Market share of U.S. high-grade volume (other)

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Market share of U.S. high-yield volume (other)

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Market trading volume (other)

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Market volume growth (other)

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Matched principal trading revenue (other)

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Net capital excess (other)

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New Features Delivered (other)

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New features delivered (other)

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New issue inventory (other)

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New issue volume available (other)

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New issues inventory (other)

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New platform features (other)

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New platform features delivered (other)

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New product features delivered (other)

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Non-USD revenue share (other)

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Non-voting common stock outstanding (other)

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Online allocations (other)

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Open Trading Cost Savings (other)

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Open Trading client cost savings (other)

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Open Trading cost savings (other)

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Open Trading credit volume (other)

Open Trading fee share (other)

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Open Trading participants (other)

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Open Trading price improvement (other)

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Open Trading share of commission revenue (other)

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Open Trading share of commissions (other)

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Open Trading share of credit volume (other)

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Open Trading share of eligible credit volume (other)

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Open Trading share of fees (other)

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Open Trading share of variable transaction fees (other)

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Open Trading share of volume (other)

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Open Trading trades completed (other)

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Open Trading trades executed (other)

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Open Trading volume (other)

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Open Trading volume growth (other)

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Open Trading volume share (other)

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Orders uploaded electronically (other)

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Other volume (other)

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Patents issued (other)

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Post-trade messaging (other)

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Post-trade transactions processed (other)

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Pre-trade price indications (other)

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Price Improvement (other)

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Price Improvement Generated (other)

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Price improvement (other)

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Pricing data coverage (other)

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Rates trading volume (other)

Rates transaction fee (other)

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Reference data coverage (other)

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Regulatory capital excess (other)

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Regulatory capital required (other)

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Regulatory capital requirement (other)

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Regulatory net capital (other)

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Regulatory net capital and financial resources (other)

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Regulatory net capital excess (other)

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Remaining repurchase capacity (other)

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Repurchase program capacity (other)

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Repurchase program remaining capacity (other)

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Required net capital (other)

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Required regulatory capital (other)

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Required regulatory net capital (other)

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STP Connections (other)

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STP connections (other)

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Securities data coverage (other)

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Securities with pricing data (other)

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Securities with reference data (other)

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Segregated customer reserve balance (other)

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Self-clearing financed positions (other)

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Self-clearing financed positions and deposits (other)

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Share repurchase capacity (other)

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Shares available for grant (other)

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Shares available for purchase (other)

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Shares outstanding (other)

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Shares repurchased (other)

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Single-dealer inquiry volume (other)

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Straight-through processing connections (other)

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TRACE high-grade volume (other)

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TRACE market share (other)

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TRACE market volume (other)

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TRAX transactions processed (other)

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Top client volume share (other)

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Total U.S. high-grade market volume (other)

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Total trading volume (other)

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Trades completed via straight-through processing (other)

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Trades delivered via post-trade messaging (other)

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Trades via straight-through processing (other)

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Trading Volume (other)

Trading days (other)

Trading volume (other)

Trading volume by product (other)

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Transactions processed (other)

Trax daily transactions (other)

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Trax transactions processed (other)

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U.K. trading days (other)

U.S. High-Grade Market Share (other)

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U.S. High-Yield Market Share (other)

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U.S. high-grade TRACE market volume (other)

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U.S. high-grade TRACE volume (other)

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U.S. high-grade market share (other)

U.S. high-grade market volume (other)

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U.S. high-grade trading volume (other)

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U.S. high-grade volume (other)

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U.S. high-yield market share (other)

U.S. trading days (other)

US high-grade TRACE market volume (other)

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US high-grade market share (other)

US high-yield market share (other)

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US trading days (other)

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Unrecognized compensation cost (other)

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Unrestricted non-U.S. cash (other)

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Variable fee per million (other)

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Variable transaction fee (other)

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Variable transaction fee per million (other)

Voting common stock outstanding (other)

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us-gaap:NumberOfReportableSegments (other)

us-gaap:RevenueRemainingPerformanceObligation (rpo)

Office space leased (square_footage)

Corporate BondTicker subscribers (subscribers)

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Transactions processed (throughput)

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Open Trading trades (transactions)

International Active Traders (users)

Human capital disclosures. Workforce totals and demographics are point-in-time. Flow metrics use the year-to-date period for 10-Q and full year for 10-K. Workforce actions (RIFs, restructurings, acquisition-related changes) are listed in the table at the bottom.

Workforce Totals

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Demographics

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Workforce Breakdowns

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HCM Metrics — Point-in-Time

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HCM Metrics — Flow (Annual / YTD)

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Workforce Actions

Period EndTypeStatusAffected% WorkforceAnnouncedExpected CompletionGeographySegment / FunctionChargeSourceNote
2026-03-31restructuringin_progressManagement structureUSD 1 (millions)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Repositioning charges of $1.484M in Q1 2026 consist of severance in employee compensation and benefits, related to changes in the Company's management structure. No employee count, announcement date, or completion date disclosed.
2026-03-31restructuringcompletedUSD 1 (millions)MD&A
f5-10q / Qwen3.6-27B-Q8_0		Repositioning charges related to changes in management structure included in employee compensation and benefits.
2025-12-31restructuringcompletedCompany-wide management structureUSD 5 (millions)MD&A
f5-10k / GLM-5.3-flash-HTML		Severance repositioning charges recognized in fiscal 2025 tied to changes in the Company's management structure; number of employees affected not disclosed. Context: net headcount declined 23 (2.6%) during fiscal 2025.
2025-12-31restructuringcompletedNot specifiedManagement structureUSD 5 (millions)MD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Severance repositioning charges tied to changes in the Company's management structure, recorded in employee compensation and benefits during FY2025; no headcount affected, announcement date, or completion timeline disclosed
2025-12-31acquisition_additioncompleted2025-05-092025-05-09Global (RFQ-hub operations in Europe, North America, APAC)Multi-asset RFQ platform (ETF and derivatives)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Acquisition of a 90.3% controlling stake completed May 9, 2025 for total purchase price of $82.3 million; headcount added through the acquisition is not disclosed
2025-12-31restructuringcompletedGlobalManagement structureUSD 5 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0		Repositioning charges related to changes in the Company's management structure, including severance costs. Employee count not explicitly disclosed in the filing.
2025-12-31reduction_in_forcecompleted232.6%GlobalGeneralItem_1_Business
f5-10k / Qwen3.6-27B-Q8_0		Net decrease in employee headcount of 23 (2.6%) during fiscal year 2025.
2025-09-30restructuringin_progressUSD 4 (millions)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Severance tied to changes in the Company's management structure, recorded in employee compensation and benefits for the nine months ended September 30, 2025. Number of employees affected, announcement date, and completion timing not disclosed.
2025-09-30acquisition_additioncompleted2025-05-09business_combinations_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML		2025 RFQ-hub Acquisition of a 90.3% controlling stake completed May 9, 2025 (Unit Purchase Agreement entered April 2024); goodwill attributed partly to an acquired assembled workforce, but headcount added was not quantified.
2025-09-30restructuringcompletedUSD 4 (millions)MD&A
f5-10q / Qwen3.6-27B-Q8_0		Severance costs related to changes in the Company's management structure included in employee compensation and benefits.
2025-06-30restructuringcompletedUnited StatesCorporate / ManagementUSD 4 (millions)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Severance costs of $4.0 million in Q2 2025 related to changes in the Company's management structure; number of employees affected not disclosed. Also identified as a 'repositioning charge' notable item in the non-GAAP reconciliation.
2025-06-30acquisition_additioncompleted2024-04-302025-05-09RFQ-hub Holdings LLCbusiness_combinations_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Company acquired a controlling 90.3% stake in RFQ-hub completed 2025-05-09; headcount added through the acquisition not disclosed.
2025-06-30restructuringcompletedUSD 4 (millions)MD&A
f5-10q / Qwen3.6-27B-Q8_0		MD&A reports $4.0 million in higher severance costs related to changes in management structure for the three and six months ended June 30, 2025. Non-GAAP reconciliation lists $3.97 million in repositioning charges (severance). Employee count affected is not disclosed.
2024-12-31acquisition_additionin_progress2024-04-19Europe / North America / APACMulti-asset RFQ trading platform (ETFs and derivatives)USD 38 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Agreement to acquire an additional 49.0% interest for approximately $37.9 million cash, which would bring MarketAxess to a 92.0% controlling stake; closing subject to regulatory approvals. No headcount associated with the transaction is disclosed.
2024-06-30acquisition_additionannounced2024-04-192024-12-31RFQ-hub Holdings LLC (multi-asset request-for-quote platform)USD 38 (millions)other
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Agreement to buy an additional 49.0% interest for about $37.9 million cash; would give MarketAxess a 92.0% controlling stake. Closing subject to regulatory approvals, expected in H2 2024. No employee count disclosed.
2023-12-31acquisition_additioncompleted2023-08-052023-10-02United StatesTechnology — algorithmic trading solutions (extends offerings into equities and foreign exchange)business_combinations_footnote
f5-10k / GLM-5.3-flash-HTML		Acquired Pragma LLC and Pragma Financial Systems LLC; purchase agreement dated August 5, 2023 and transaction closed October 2, 2023 for an aggregate purchase price of $125.0 million ($81.2 million cash plus 224,776 shares valued at approximately $43.8 million). Headcount added through the acquisition is not disclosed.
2023-12-31acquisition_additioncompleted2023-08-052023-10-02United StatesAutomated and algorithmic trading solutions (equities and foreign exchange)USD 125 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Acquisition of Pragma LLC and Pragma Financial Systems LLC completed 2023-10-02 for an aggregate purchase price of $125.0 million ($81.2 million cash plus 224,776 shares valued at approximately $43.8 million). Headcount added through the acquisition is not disclosed; purchase price allocation recorded $38.9 million of intangible assets and $81.9 million of goodwill.
2023-09-30acquisition_additioncompleted2023-08-052023-10-31United StatesTechnology / quantitative trading (algorithmic and analytical services)USD 129 (millions)subsequent_events
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Acquisition of Pragma LLC and Pragma Financial Systems LLC closed October 2023, after quarter end; consideration ~$128.6M ($80.4M cash plus 216,173 shares valued ~$48.2M). No headcount added disclosed. Pragma is a registered broker-dealer (Note 3). Purchase agreement dated 2023-08-05.
2021-12-31acquisition_additioncompleted2021-04-092021-04-09United StatesMunicipal bonds — electronic trading venue (MuniBrokers, LLC)USD 40 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Purchase price $17.1M cash plus up to $25.0M contingent consideration; accounting purchase price $39.6M. Headcount added through the acquisition is not disclosed.
2020-12-31acquisition_additioncompleted2020-11-30EuropePost-trade and regulatory reporting servicesbusiness_combinations_footnote
f5-10k / GLM-5.3-flash-HTML		Acquired Regulatory Services GmbH, the pan-European regulatory reporting business of Deutsche Börse Group, on November 30, 2020 for $22.5 million cash plus up to $24.6 million contingent consideration; $37.4 million of amortizable intangibles recorded. Number of employees added not disclosed.
2020-12-31acquisition_additionannounced2020-092021-06United StatesMunicipal bond tradingbusiness_combinations_footnote
f5-10k / GLM-5.3-flash-HTML		September 2020 agreement to acquire MuniBrokers LLC, a central electronic venue serving municipal bond inter-dealer brokers and dealers; expected to close in the first half of 2021 subject to customary conditions, for approximately $45.0 million plus transaction costs. Employee count not disclosed.
2020-12-31acquisition_additioncompleted2020-11-30EuropePost-trade regulatory reporting servicesbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Closed November 30, 2020 for $22.5 million cash plus up to $24.6 million contingent consideration; acquired headcount not disclosed
2020-12-31acquisition_additionannounced2020-09United StatesMunicipal bond trading platformbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Agreement entered September 2020; expected to close in the first half of 2021 subject to customary conditions; purchase price approximately $45.0 million cash plus transaction costs; acquired headcount not disclosed
2019-12-31acquisition_additioncompleted2019-08-122019-11-01United StatesU.S. Treasuries trading (LiquidityEdge platform)business_combinations_footnote
f5-10k / GLM-5.3-flash-HTML		Acquisition of LiquidityEdge LLC closed November 1, 2019 for aggregate consideration of $152.7 million ($103.9 million cash plus 146,450 shares valued near $48.8 million). Number of employees added through the combination was not disclosed; company reported total headcount growth from 454 to 527 during the year.
2019-12-31acquisition_additioncompleted2019-08-122019-11-01United StatesU.S. Treasury trading (LiquidityEdge)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Acquisition of LiquidityEdge LLC completed 2019-11-01 for $152.7M aggregate consideration; headcount added through the acquisition not disclosed
2013-12-31acquisition_additioncompleted2013-02-282013-02-28United KingdomUSD 38 (millions)business_combinations_footnote
f5-10k / GLM-5.3-flash-HTML		Acquired Xtrakter Limited, a U.K.-based trade matching and regulatory reporting provider; aggregate purchase price of $37.8 million in cash net of acquired cash. Headcount added not quantified; MD&A attributes the increase from 206 employees (12/31/2012) to 293 (12/31/2013) mainly to personnel associated with this acquisition.
2013-12-31divestiture_reductioncompleted2013-09-302013-10-08Greenline Financial Technologies, Inc.USD 8 (millions)discontinued_operations_footnote
f5-10k / GLM-5.3-flash-HTML		Stock purchase agreement executed 2013-09-30 to sell 100% of Greenline to CameronTec Intressenter AB; closed 2013-10-08 for $11.0 million in cash. Gain on sale of $7.6 million recognized net of tax benefit; Greenline results reclassified to discontinued operations. Employee headcount transferred with the sale not disclosed.
2013-12-31acquisition_additioncompleted2013-02-282013-02-28United KingdomTrade matching and regulatory transaction reporting; market and reference dataUSD 38 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Acquired Xtrakter Limited from Euroclear for $37.8 million cash, net of acquired cash; $1.6 million of transaction costs expensed in 2013. Xtrakter-specific headcount not disclosed; MD&A attributes the increase from 206 to 293 employees mainly to this acquisition.
2013-12-31divestiture_reductioncompleted2013-09-302013-10-08United StatesGreenline Financial Technologies, Inc. (discontinued operations)USD 11 (millions)discontinued_operations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Sold 100% of Greenline to CameronTec Intressenter AB for $11.0 million cash; recognized a $7.6 million gain net of tax benefit. Headcount removed through the disposition not disclosed.
2013-12-31acquisition_additioncompleted2013-02-282013-02-28United KingdomInformation and post-trade servicesItem 1. Business
f5-10k / Qwen3.6-27B-Q8_0		Acquired Xtrakter Limited in February 2013. Employee count increased from 206 to 293, mainly due to personnel increases associated with the Xtrakter acquisition.
2013-12-31divestiture_reductioncompleted2013-10-082013-10-08United StatesDiscontinued Operationsdiscontinued_operations_footnote
f5-10k / Qwen3.6-27B-Q8_0		Sold Greenline Financial Technologies, Inc. in October 2013. Specific headcount removed not disclosed.
2013-09-30acquisition_additioncompleted2013-02-28United KingdomInformation and post-trade servicesbusiness_combinations_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Acquired Xtrakter from Euroclear for $37.8 million cash net of acquired cash; headcount added not disclosed. MD&A attributes the rise in total headcount from 204 to 295 mainly to this acquisition; Xtrakter contributed $12.8 million revenue since acquisition
2013-09-30divestiture_reductioncompleted2013-09-302013-10-08other
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Stock purchase agreement executed September 30, 2013 to sell 100% of Greenline Financial Technologies for $11.0 million cash; closed October 8, 2013. Headcount removed not disclosed; expected gain of approximately $7.0 million net of tax in Q4 2013
2013-09-30acquisition_additioncompleted2013-02-28United KingdomInformation and post-trade servicesMD&A
f5-10q / Qwen3.6-27B-Q8_0		Headcount increased from 204 to 295 mainly due to personnel increases associated with the Xtrakter acquisition. Xtrakter is a U.K.-based provider.
2013-06-30acquisition_additioncompleted652013-02-282013-02-28United KingdomXtrakter (trade matching, regulatory reporting and market/reference data)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Headcount increase from 247 to 327 attributed mainly to 65 Xtrakter personnel added on the February 28, 2013 acquisition date; Xtrakter-related revenue of $7.4 million and net income of $0.3 million included since acquisition.
2013-06-30acquisition_additioncompleted652013-02-28United KingdomMD&A
f5-10q / Qwen3.6-27B-Q8_0		Addition of 65 Xtrakter personnel following acquisition on Feb 28, 2013.
2013-03-31acquisition_additioncompleted622013-02-28United KingdomXtrakter Limited (trade matching, regulatory reporting, market and reference data)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Headcount increase from 238 to 306 year over year was mainly due to the addition of 62 Xtrakter personnel; Xtrakter compensation costs were $0.8 million since the February 28, 2013 acquisition date.
2013-03-31acquisition_additioncompleted622013-02-28United KingdomMD&A
f5-10q / Qwen3.6-27B-Q8_0		Addition of 62 Xtrakter personnel following acquisition on Feb 28, 2013.
2012-12-31acquisition_additionannounced2012-10-262013-02-28United KingdomTechnology products and services (Xtrakter Limited)subsequent_events
f5-10k / GLM-5.3-flash-HTML		Pending acquisition of Xtrakter Limited (U.K. provider of regulatory transaction reporting, market data and trade matching) from Euroclear for £26.0 million (~$40.5 million) in cash, funded from cash on hand. FSA change-in-control approval received February 18, 2013; completion expected on or about February 28, 2013. Xtrakter employee headcount not disclosed in the filing.
2012-12-31acquisition_additionannounced2012-10-262013-02-28United KingdomRegulatory transaction reporting, financial market data and trade matching servicesUSD 41 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Agreement to acquire Xtrakter Limited from Euroclear for GBP 26.0 million (~$40.5 million) cash plus transaction costs; FSA change-of-control approval received 2013-02-18, closing expected on or about 2013-02-28. Headcount added not disclosed.
2012-09-30acquisition_additionannounced2012-10-262013-03-31United KingdomUSD 42 (millions)subsequent_events
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Agreement to acquire Xtrakter Limited for GBP 26.0 million (~$42.0 million) cash; filing discloses no headcount for the acquired workforce. Closing subject to FSA regulatory approval.
2008-12-31acquisition_additioncompleted2008-03-052008-03-05United States (Illinois)Technology products and servicesUSD 42 (millions)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Aggregate consideration of $42.4 million including a $1.4 million 2008 earn-out; acquired headcount not disclosed. Greenline added $7.2 million of 2008 expenses including $3.5 million of employee compensation.
2008-12-31restructuringcompleted2008-12-31United StatesCorporateUSD 1 (millions)MD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML		MD&A attributes part of the $0.8 million increase in 2008 employee compensation to severance costs of $1.0 million; number of employees affected is not disclosed and no restructuring footnote exists in this filing.
2008-12-31acquisition_additioncompleted2008-03-05IllinoisTechnology Servicesbusiness_combinations_footnote
f5-10k / Qwen3.6-27B-Q8_0		Acquired Greenline Financial Technologies, Inc. on March 5, 2008. Specific headcount added not disclosed, but total employee count increased from 182 to 185 during the year.
2008-12-31restructuringcompletedUSD 1 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0		Incurred $1.0 million in severance costs during 2008. Specific number of employees affected not disclosed.
2008-12-31acquisition_additioncompletedUnited StatesTechnology servicesother
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Acquisition of Greenline Financial Technologies, Inc. completed March 2008; acquired headcount is not quantified anywhere in this amendment. Greenline maintained a separate bonus pool during 2008.
2008-09-30restructuringcompleted2008-09-30United StatesUSD 1 (millions)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Severance costs of $0.7M in Q3 2008 ($1.1M YTD) tied to a headcount reduction in September 2008 responding to credit market conditions; no employee count disclosed.
2008-09-30acquisition_additioncompleted2008-03-05United StatesTechnology products and servicesbusiness_combinations_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Acquisition of Greenline Financial Technologies completed March 5, 2008; headcount added not disclosed.
2008-09-30restructuringcompletedUSD 1 (millions)MD&A
f5-10q / Qwen3.6-27B-Q8_0		Reduction in headcount in September 2008 in response to credit market conditions; severance costs of $0.7 million recorded for the three months ended Sept 30, 2008.
2008-09-30acquisition_additioncompleted2008-03-05IllinoisTechnology products and servicesbusiness_combinations_footnote
f5-10q / Qwen3.6-27B-Q8_0		Acquisition of Greenline Financial Technologies, Inc. on March 5, 2008. Headcount not explicitly disclosed.
2007-12-31acquisition_additioncompleted2007-11-09United States (Utah)Technology services (gateway adapters)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML		MarketAxess Technologies Inc. acquired assets of Trade West Systems, LLC for $3.0M cash plus 64,642 shares; headcount added not disclosed.
2006-12-31othercompletedUnited States; United KingdomNot specifiedUSD 2 (millions)other
f5-10k / MiMo-V2.6-Flash-fp8-HTML		Severance payments to terminated employees during 2006; $1.0 million remained accrued at year-end, expected to be paid in 2007. Filer does not label this a RIF or restructuring and does not disclose employee counts.
2006-12-31restructuringcompletedUSD 2 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0		Filing discloses $1.7 million in employee severance costs incurred during the year ended December 31, 2006. Specific headcount affected is not disclosed.
2006-06-30layoffcompletedUnited StatesUSD 0 (millions)MD&A
f5-10q / MiMo-V2.6-Flash-fp8-HTML		Referenced in employee compensation expense discussion for both three and six months ended June 30, 2006; number of employees affected not disclosed