MarketAxess operates electronic trading platforms serving institutional investors and broker-dealers globally, primarily in fixed-income markets including credit products such as bonds and loans, and rates products such as government securities. The company's flagship Open Trading platform is an anonymous all-to-all marketplace that connects market participants to facilitate price discovery and execution, supplemented by the MarketAxess X-Pro platform integrating multiple trading protocols with proprietary analytics and AI-driven pricing tools, and recent expansions into equities, foreign exchange, and derivatives. Revenue derives primarily from transaction commissions on platform trades, supplemented by information services, post-trade services, and technology services.