Intercontinental Exchange, the parent company of the New York Stock Exchange, will acquire electronic bond trading platform MarketAxess for approximately $6 billion in cash, or $167 per share, representing a 33% premium over its closing price on July 29. The transaction, with an equity value of $6.0 billion and an enterprise value of $5.7 billion, was unanimously approved by both companies’ boards and is expected to close in the first half of 2027. ICE projects the deal will generate about $100 million in annual expense synergies within three years. MarketAxess reported Q2 2026 revenues of $218.4 million with an operating margin of 41.1%.
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