On this page of Benford's Law Stocks.com we present our study of MARKETAXESS HOLDINGS INC — ticker symbol MKTX. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 2/19/2021 to 11/7/2025 for MARKETAXESS HOLDINGS INC under CIK number 0001278021. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for MKTX, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for MARKETAXESS HOLDINGS INC based on the past MKTX filings our system processed in the past.
30.7
14.3
15.5
9.8
8.0
5.7
4.7
4.9
6.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing, MKTX stockholder letter ]
Total numbers found: 976
Recent share count: 37,363,773 (3's column)

= Typical range across full coverage universe
Benford's Law Stocks Indicator
976
Normal count compared to other filers, falling within the middle 50%. At this number count, it would take about 10 numbers to move any given column by a full percentage point.
85

Starting from a possible score of 100, we made the following score deductions:
 • The 3's percentage was higher than the 2's percentage, increasing the penalty multiplier.
 • However, because we observed that the company's shares outstanding count begins with the digit 3, we canceled the penalty multiplier.
 • We deducted points upon observing the 3's percentage was above the typical coverage universe range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was above the typical coverage universe range.
Benford's Law Stocks Indicator
MKTX
Normal-to-high score compared to other filers, falling within the top of the middle 50%.
LFUS
LNTH
NTRA
OCFC
LITE
MDB
NSSC
OCC
Check our work! We provide our MARKETAXESS HOLDINGS INC Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the MKTX filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 300 numbers that start with the digit 1. Here they are:
168,472
165,260
110,519
115,880
111,622
107,298
1,789,216
11,733
110,000
110,000,000
123
123
10,000,000
1,474,752
1,405,904
1,378,450
1,388,660
1,789,216
180,171
180,392
13,785
12,960
11,293
10,382
10,342
187,135
176,485
19,662
18,728
19,961
18,553
11,234
10,974
12,580
13,420
17,218
15,467
123,242
119,660
18,949
19,327
171
1,283
1,064
1,105
15,057
132,691
154,518
128
154,390
1.84
1.90
1.84
1.90
154,518
18,740
13,936
150
185,588
167
198
185,390
123
1,405,904
1,388,660
15,065
15,065
11,010
11,010
164
1,104
123
1,392,279
1,347,313
148
148
123
1,434,953
1,321
1,386,185
127
123
1,474,752
1,378,450
123
1,244,216
1,292,963
1,977
1,977
14,893
14,893
155
1,440
10,147
10,147
123
1,288,247
1,318,233
13
13
123
1,325,139
1,329,221
18,740
18,740
164
164
15,032
15,032
123
1,368,661
10,144
1,386,254
154,518
16,159
1,823
11,148
11,677
198
115
139,132
16,761
15,263
120,015
156,470
11,082
11,667
1,399
1,647
1,735
10,365
1,822
1.0
130,961
135,756
13,987
13,384
14,728
145,949
146,737
101,271
100,248
180,171
180,392
13,334
12,787
173
13,785
12,960
11,271
10,333
11,293
10,382
148
10,342
11,438
11,646
1,286
17,261
17,218
1,422
100,503
100,503
11,221
11,221
168,472
195,936
11,107
11,107
165,260
110,519
110,519
110,519
110,519
119,942
1,211,372
1,211,372
1,211,372
107,652
1,195
1,808
1,602
1.0
12
100,270
100,503
10,237
11,221
166,967
1,538
168,472
100,484
1,525
10,212
11,107
166,143
1,074
1,957
165,260
124
166
1,113
1,850
1,674
1,829
1,161
1,255
1,161
1,255
174
174
100,503
122,847
157,251
154,153
11,467
11
1
12,220
12
1,226
1
184,441
109,307
136,424
119,942
107,652
158,694
101,514
1,012
13,755
10,365
1,554
1,554
100
1,392
1,074
1,822
1,822
16,900
12,600
19.5
1.2
10,365
128
1,240
11,733
155,525
138,089
16,443
115,880
179,219
14.7
15.0
19.7
18.3
16.8
15.8
132.7
1,217
1,158
1.2
176,590
197.78
193.49
10,343
1.84
1.90
1.84
1.90
133,720
199,481
1
1.00
1
1.1
11,278
11,015
1
12,489
18,225
150.0
120.0
105.0
10.0
138,627
145,022
131,955
121,008
19,796
10,709
12,683
1,720
1,632
111,622
107,298
119,942
107,652
1,182
1,222
We found 140 numbers that start with the digit 2. Here they are:
283,667
236,706
2,013,908
218,845
2,013,908
2,981
208,821
206,715
20,982
21,053
2,349
2,898
265,825
260,894
2,381
2,501
21,384
287,209
275,951
25,366
21,408
209,042
209,042
2.28
2.22
209,042
20
290
223,268
223,268
234
234
28,690
28,690
23,455
24,628
24,628
28,475
28,475
28,377
28,377
260,298
24,370
28,003
28,003
269,005
28,651
206
206
28,046
28,046
29,227
27,967
27,967
209,042
23,717
23,065
2,921
288
2,839
226,736
208,520
261,718
2,085
223,507
208,989
2,421
223,927
22,728
28,764
2,473
2,100
286,183
272,828
20,882
22
281
2,972
26
2,981
27,464
27,464
27,464
220,733
250,076
218,845
218,845
218,845
218,845
2,202
2,270
2,676
25.0
254
21
233
2,935
2
24,920
297,606
254,622
218,845
2,466
2,353
283.7
236.7
236,706
283,667
21,154
24,687
214,255
20.1
25.4
21.4
27.1
23.0
24.2
2.2
2,457,001
21,739
22,762
24,958
23,920
20,606
208,102
2
25
2
2,868
2,774
293
293
2,540
2,444
200.0
25,538
208,821
206,715
2,225
2,600
We found 151 numbers that start with the digit 3. Here they are:
37,171,508
303
357,728
365,828
3,683
31,907
37,320
37,149,529
37,646,374
358,607
350,701
3,958,418
3,374,047
333,369
3,629
34,699
39,776
37,385
33,457
31,512
3,572
3,859
3,835
3,948
371,034
353,799
346
340
37,023
37,527
37,207
37,641
37,109
37,608
37,288
37,696
30,593
30
343
350,701
333,369
34,699
38,077
38,077
348,708
370,342
321
321
36,687
36,687
356,817
358,607
3,629
333,292
327,519
33,450
33,450
335,641
302,455
343
343
344,138
316,524
3,203
38,746
36,515
38,035
35,790
344,925
344,925
372
3,885
36,515
33,866
3
34,222
33,655
38,888
36,764
39,776
37,385
33,360
31,231
33,457
31,512
3,424
3,572
3,302
3,094
322
34,652
34,910
32.8
327.8
3.8
365,828
365,828
365,828
365,828
357,728
357,728
357,728
341,921
3,690
3,465
300
33
324
30
347
32
343
34,404
38,041
39,267
357,728
365,828
38.1
34,878
34,878
34,321
33,866
38,069
38,069
34,321
33,866
3,390
3,845
3,845
30,300
30,200
30,200
37,576
354
3,219
3
35,549
37,023
37,527
37,207
37,641
37,109
37,608
37,288
37,696
380.0
375.0
3
3,873
3,847
3,269
4's 5's 6's
We found 96 numbers that start with the digit 4. Here they are:
473,299
48,351
47,107
42,019
400,556
4,855,000
41,107,947
41,020,421
451,403
4,387
457
4,051
4.15
4.14
477
407,029
45,251
45,251
451,403
4,241
4,241
40
40
444
444
4,358
4,632
40,590
45,137
4,129
4,802
452,013
436,696
451
49
415
4,838
43.3
48.4
499
499
499
499
445,835
445,835
445,835
445,835
48,351
48,351
48,351
48,351
486,725
489,005
489,005
489,005
489,005
47,107
47,107
47,107
47,107
499
438
4,128
427
487
44
4
47,264
45,762
49,978
49,067
426
427
4,678
4,345
455
455
455
4,333
4,333
49,314
46,961
46,961
41,130
46.2
4.15
4.14
408,112
42,154
429,914
427,688
44,656
41,897
473,299
48,351
47,107
We found 78 numbers that start with the digit 5. Here they are:
544,478
53,412
58,132
553,284
536,944
59,982
58,431
57,093
55,284
57,430
53,375
5,839
5,850
523
5,842
5.55
5.55
5,045
57
5,045
5,045
581
563
563
57,093
55,284
5,544
5,025
5,795
583
5,150
58,629
57,685
541
5,613
5,525
553,284
536,944
567
5,953
5,003
56,748
56,748
55,473
55,473
55,108
55,108
55,473
597,244
56,460
56,748
55,447
55,108
5
59.0
58.4
58.9
505
529
56,748
55,108
59,324
51,916
557
58,730
5.5
5.0
5
50.0
55
5.55
5.55
5.0
500.0
500.0
5
594,714
544,478
We found 56 numbers that start with the digit 6. Here they are:
606,667
60,374
68,054
66,872
623,725
636,859
614,693
6,989
6,099
6,953
66,909
68,273
68,176
68,273
63,323
63,156
68,176
68,176
6,915
6,915
64,938
64,938
629
6,665
6,646
611,672
642,774
600,005
646
621
6,046
603.4
606,667
606,667
606,667
614,128
643,764
67,723
64,454
67,224
63,518
600
626
606,667
64,698
66.9
61.0
61.0
67.20
6.1
6.1
66,872
65,997
636,859
614,693
642,774
7's 8's 9's
We found 46 numbers that start with the digit 7. Here they are:
72,654
7,382
7,362
7,741
71,489
71,489
76
74
71,489
7,696
7,696
76
71,149
71,149
76
750
76
72,615
72,615
7,298
7,298
704
74
74
71,489
71,489
77
74
7,795
79,993
75,268
700,459
76,044
75,583
753
700
77,221
78,304
73,391
7,615
7,940
750.0
749.9
7.2
74,990
700,459
We found 48 numbers that start with the digit 8. Here they are:
82,584
8,852
85,579
87,055
8,060
8,430
8,430
8,832
8,832
877
8,328
8,328
8,294
8,294
886
8,841
82,217
8,557
8,420
8,995
87,151
84,999
82,568
8,590
888
8,826
8,852
868
88
86
89.4
845
852
8,235
86,145
82,300
84,591
80,746
81,141
8,832
8,294
86
81
81
8,445
8,278
8,731
85,097
We found 61 numbers that start with the digit 9. Here they are:
982
91,845
98,078
98,744
93,639
92,897
97
95
90,572
90,572
9,525
9,525
940
95
95
963
9,231
9,727
92,640
91,273
97
9,775
9
93
93
99,045
99,045
936
936
936
936
91,845
91,845
91,845
91,845
985,685
985,685
985,685
936
984
99,045
900
90
9,484
9,346
99,045
94,829
9,692
90.3
98,375
98,078
9
97,712
97
98
908
975
9,448
9,006
99,193
92,983
While the above MKTX 10Q Filed 11/7/2025 is interesting in isolation, we have found that it is also useful to take a look at older MARKETAXESS HOLDINGS INC filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 11/7/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical MKTX 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

30.7
14.3
15.5
9.8
8.0
5.7
4.7
4.9
6.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL?   [ original filing ]
Total numbers found: 976

= Typical MKTX range from 2/19/2021 to 11/7/2025
28.0
18.2
13.9
9.4
6.5
7.2
5.7
5.5
5.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 87
XBRL?   [ original filing ]
Total numbers found: 1,255

= Typical MKTX range from 2/19/2021 to 11/7/2025
32.5
13.6
10.7
11.6
8.4
7.4
8.0
3.0
4.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 61
XBRL?   [ original filing ]
Total numbers found: 664

= Typical MKTX range from 2/19/2021 to 11/7/2025
29.5
13.7
15.8
9.2
9.8
5.1
6.5
4.6
5.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 76
XBRL?   [ original filing ]
Total numbers found: 786

= Typical MKTX range from 2/19/2021 to 11/7/2025
26.4
17.2
15.0
8.4
10.3
7.1
4.0
4.9
6.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 68
XBRL?   [ original filing ]
Total numbers found: 798

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.8
19.8
12.1
8.0
7.1
6.2
5.5
5.2
5.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL?   [ original filing ]
Total numbers found: 1,176

= Typical MKTX range from 2/19/2021 to 11/7/2025
28.7
15.4
11.3
8.2
9.5
7.0
6.8
7.5
5.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 72
XBRL?   [ original filing ]
Total numbers found: 558

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.0
12.8
15.7
10.8
8.0
4.8
6.8
4.1
7.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 75
XBRL?   [ original filing ]
Total numbers found: 899

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.6
15.4
12.7
9.4
10.8
5.9
7.0
4.5
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 83
XBRL?   [ original filing ]
Total numbers found: 927

= Typical MKTX range from 2/19/2021 to 11/7/2025
28.0
18.1
13.6
8.2
7.3
7.9
6.6
5.5
4.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL?   [ original filing ]
Total numbers found: 1,217

= Typical MKTX range from 2/19/2021 to 11/7/2025
29.9
10.8
15.4
7.8
11.3
3.8
7.3
6.0
7.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 36
XBRL?   [ original filing ]
Total numbers found: 603

= Typical MKTX range from 2/19/2021 to 11/7/2025
29.1
15.6
15.9
8.3
8.3
7.9
3.3
5.7
5.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 82
XBRL?   [ original filing ]
Total numbers found: 749

= Typical MKTX range from 2/19/2021 to 11/7/2025
28.0
15.4
11.3
9.4
9.7
8.5
5.3
7.2
5.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 72
XBRL?   [ original filing ]
Total numbers found: 790

= Typical MKTX range from 2/19/2021 to 11/7/2025
29.5
20.9
11.6
8.5
8.3
5.7
4.8
5.2
5.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 87
XBRL?   [ original filing ]
Total numbers found: 1,159

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.9
11.3
13.5
13.3
8.7
4.6
7.3
3.1
7.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 57
XBRL?   [ original filing ]
Total numbers found: 654

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.1
12.6
13.7
11.0
9.6
6.2
7.1
4.1
5.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL?   [ original filing ]
Total numbers found: 878

= Typical MKTX range from 2/19/2021 to 11/7/2025
27.2
15.3
14.4
8.7
11.2
5.2
6.9
4.3
7.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 59
XBRL?   [ original filing ]
Total numbers found: 843

= Typical MKTX range from 2/19/2021 to 11/7/2025
27.4
18.1
15.5
7.2
7.8
7.2
5.9
5.5
5.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL?   [ original filing ]
Total numbers found: 1,202

= Typical MKTX range from 2/19/2021 to 11/7/2025
29.3
15.0
14.1
8.5
9.9
5.6
6.2
5.1
6.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 75
XBRL?   [ original filing ]
Total numbers found: 567

= Typical MKTX range from 2/19/2021 to 11/7/2025
30.6
13.7
13.6
9.1
8.1
7.6
5.0
7.8
4.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 77
XBRL?   [ original filing ]
Total numbers found: 767

= Typical MKTX range from 2/19/2021 to 11/7/2025
 

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