MKTX · 10-Q · 2026Q2 · Full report

UK-EU Regulatory Divergence

MARKETAXESS HOLDINGS INC · 2026-08-07 · Importance 29 · Surprise 24

MarketAxess provides regulated services in the European Union through subsidiaries authorized by the AFM in the Netherlands. Brexit has produced continuing divergence between U.K. and E.U. financial regulations, increasing the cost and complexity of operating across the two regimes. Management expects these costs to continue increasing and says new regulatory compliance may require additional financial and operational resources, adversely affecting profitability.

Key facts

• Brexit has led to ongoing divergence between the U.K. and E.U. financial regulations, increasing the cost and complexity of compliance and making it more difficult and costly to comply, with costs likely to continue to increase. source