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Electronic bond trading, where buyers and sellers of debt securities match orders through a digital platform rather than bilateral phone calls between broker desks, is consolidating at the top.
Intercontinental Exchange (NYSE: ICE) has agreed to acquire MarketAxess Holdings (Nasdaq: MKTX) at $167 per share in cash, a 33% premium to MarketAxess's closing price on July 29, 2026.
That price values the equity at approximately $6.0 billion and the total enterprise at approximately $5.7 billion.
What each company brings to the combined platform MarketAxess built its business serving institutional clients.
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