MarketAxess Buys Algorithmic Trading Provider Pragma, Boosting Client Offerings
Portfolio Pulse from Lekha Gupta
MarketAxess Holdings Inc (NASDAQ:MKTX) has agreed to acquire Pragma, a provider of quantitative trading technology. The deal, expected to close in Q4, will enhance MarketAxess' client offerings with AI-powered technology solutions. The acquisition will also accelerate MarketAxess' leadership in the fixed-income automation and algo space. As of June 30, 2023, MarketAxess held $505.5 million in cash and equivalents. MKTX shares are trading higher by 0.27% at $243.51.
August 07, 2023 | 2:30 pm
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MarketAxess' acquisition of Pragma is expected to enhance its client offerings and accelerate its leadership in the fixed-income automation and algo space. This could potentially boost its stock price.
The acquisition of Pragma, a provider of quantitative trading technology, is expected to enhance MarketAxess' client offerings and accelerate its leadership in the fixed-income automation and algo space. This could potentially attract more clients and increase revenues, which could boost its stock price.
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