MarketAxess to Exit S&P 500 After 20% Stock Decline
The bond-trading platform will be moved to the S&P SmallCap 600 as part of the index's latest rebalancing, effective September 22.
MarketAxess Holdings Inc. (MKTX) is set to be removed from the prestigious S&P 500 index, a move that follows a nearly 20% year-to-date decline for the electronic bond-trading platform's stock.
The change, part of a significant rebalancing , will take effect prior to the market opening on Monday, September 22, 2025. MarketAxess will transition to the S&P SmallCap 600 index. Following the announcement, the company's shares fell approximately 0.5% in after-hours trading.
The demotion underscores a challenging period for the firm, which has faced headwinds from . Exclusion from the benchmark index often triggers significant consequences, as passive investment funds that track the S&P 500 are compelled to sell their holdings. This can result in for the demoted stock.
The rebalancing reflects a broader shift in the market, with the S&P 500 committee favoring high-growth technology firms. MarketAxess is being replaced by AppLovin, an AI-driven mobile technology company. The rebalancing also includes the high-profile addition of , signaling the index's continuous evolution to mirror the modern American economy.