Securities Lawyers Blog
Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as MarketAxess Corporation. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.
MarketAxess Corporation is a broker-dealer that operates electronic trading platforms for fixed income securities, including its Open Trading marketplace that lets institutional investors, asset managers, and dealers trade corporate bonds, municipal bonds, and government bonds anonymously with one another. Founded in 2000 by Richard McVey and headquartered at Hudson Yards in New York City, the firm is the operating subsidiary of publicly traded MarketAxess Holdings and serves roughly 2,100 institutional and dealer clients worldwide.
MarketAxess Corporation – By the Numbers:
- CRD #: 44542
- Regulatory Events: 1
- Broker Employees: 158
MarketAxess Corporation – In the News:
FINRA v. MarketAxess Corporation (Case #2020065254901) – From November 2008 to September 2020, MarketAxess violated NASD Rules 6230(c)(8) and 2110 and FINRA Rules 6730(a), 6730(c)(8), and 2010 by reporting inaccurate execution times to the Trade Reporting and Compliance Engine (TRACE) on approximately 53,000 transactions and, from 2013 to 2020, reporting 399 of these transactions late. From April 2016 to May 2023, MarketAxess violated MSRB Rule G-14 by reporting inaccurate times of trade for approximately 57,000 municipal security transactions to the MSRB Real-time Transaction Reporting System (RTRS) and reporting 123 of these transactions late. From November 2008 to January 2022, MarketAxess violated NASD Rules 3010 and 2110 and FINRA Rules 3110 and 2010 and, from April 2016 to January 2022, MSRB Rule G-27, by failing to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with TRACE and MSRB RTRS reporting obligations. For these violations, MarketAxess is fined $180,000.
Gana Weinstein LLP represents individuals, families, and institutions in securities arbitration and litigation against brokerage firms. If you suspect churning, excessive commissions, unauthorized trading, or other misconduct in your MarketAxess Corporation account, our consultations are free and confidential.