23. Richard McVey
Chairman and Chief Executive Officer
MarketAxess Holdings
Last year: 21
In the first quarter of 2017, MarketAxess Holdings increased its share of U.S. high-grade corporate bond trading volume to 15.9 percent, a full percentage point higher than in the 2016 period. The steadily rising market-share measure is just one of many indicators of sustained momentum at the fixed-income platform operator that then-J.P. Morgan managing director Richard McVey founded in 2000. The flip side of 15.9 percent is the vast majority of trading that has yet to go electronic. "Our job is to keep enhancing the trading system and make it easy for people to trade electronically," says McVey, 57, chair and CEO since the firm's inception. He says that MarketAxess, which went public in 2004 and staked out a leadership position in corporates, is making progress across all four of its core product areas: high grade, high yield, Eurobonds, and emerging markets. He notes that "a lot of companies in our space have struggled" in attempting to serve a "complicated and fragmented market" that has chronic liquidity issues. With 1,200 institutional investors and broker-dealers on the network, MarketAxess is reaping the benefits of investing profits back into the business — first-quarter pretax income rose 25 percent year-over-year, to $56 million, and revenue 17 percent, to $104 million, both records — and building on a home-grown technology foundation that rivals cannot match, McVey contends.
The 2017 Tech 40
1. Adena Friedman NASDAQ 
2. Catherine Bessant Bank of America Corp. 
3. Robert Goldstein BlackRock 
4. Jeffrey Sprecher Intercontinental Exchange 
5. Lance Uggla IHS Markit |
6. Shawn Edwards & Vlad Kliatchko Bloomberg 
7. David Craig Thomson Reuters 
8. Michael Spencer NEX Group 
9. Don Callahan Citigroup 
10. Elisha Wiesel Goldman Sachs Group |
11. Michael Bodson Depository Trust & Clearing Corp. 
12. Terrence Duffy CME Group 
13. Charles Li Hong Kong Exchanges and Clearing 
14. Sean Belka Fidelity Investments 
15. Chris Concannon CBOE Holdings |
16. Guy Chiarello First Data Corp. 
17. Steven Lieblich Citadel 
18. David Rutter R3CEV 
19. Blythe Masters Digital Asset Holdings 
20. Alfred Spector Two Sigma Investments |
21. Neil Katz D.E. Shaw Group 
22. Lee Olesky Tradeweb Markets 
23. Richard McVey MarketAxess Holdings 
24. David Gledhill DBS Bank 
25. Seth Merrin Liquidnet Holdings |
26. Antoine Shagoury State Street Corp. 
27. Peter Brown & Renaissance Technologies 
28. Lou Eccleston TMX Group 
29. Peter Cherecwich Northern Trust Corp. 
30. Mike Chinn S&P Global Market Intelligence |
31. Chris Corrado London Stock Exchange Group 
32. Neal Pawar AQR Capital Management 
33. Gary Norcross Fidelity National Information Services 
34. Steven O'Hanlon Numerix 
35. Sebastián Ceria Axioma |
36. Brian Conlon First Derivatives and Kx Systems 
37. Tyler Kim MaplesFS 
38. Michael Cooper BT Radianz 
39. Robert Schifellite Broadridge Financial Solutions 
40. Jim Minnick eVestment |
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