JP Morgan to sell holding in MarketAxess

MarketAxess has just announced a Secondary Public Offering of Common Stock.

The placing entity is JP Morgan (JPMP Capital Corp), who are the only bank shareholder, as well as being the largest single shareholder in the platform with 14% holding (see here for shareholders).

Banks seem to be selling their holding in platforms, first FXall, now MarketAxess. Although, I think ten major banks still own a minority of Tradeweb, together with management, with Reuters having a majority ownership.

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