Intercontinental Exchange has agreed to buy electronic bond trading platform MarketAxess in an all-cash deal valued at about $6.0 billion in equity value and $5.7 billion in enterprise value, paying $167 per share, a 33% premium to MarketAxess’s July 29 closing price. Both boards unanimously approved the transaction, which is expected to close in the first half of 2027 subject to shareholder and regulatory approvals. ICE said the acquisition should deepen its fixed-income trading, data and analytics business, deliver about $100 million in annual run-rate expense synergies within three years, and add to adjusted earnings per share in the first full year after closing. Separately, Monteverde & Associates PC said on July 30, 2026 that it is investigating the proposed sale and whether the price is fair to MarketAxess shareholders.