| Cash Flow for MarketAxess Holdings Inc. (MKTX) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 10,320 | 5,421 | 8,142 | 58,646 | 4,213 | | Provision for Loan Loss | - | - | - | - | - | | Depreciation & Amortization | 7,170 | 6,728 | 5,219 | 3,481 | 4,749 | | Deferred Income Taxes | 4,696 | 903 | 2,976 | (41,410) | - | | Change in Assets (Receivables) | (1,281) | (2,439) | (856) | (7,306) | (5,192) | | Change in Liabilities (Payables) | 2,169 | (605) | (833) | 2,638 | 6,525 | | Investment Securities Gain | - | - | - | - | - | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | - | - | - | - | - | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | 6,046 | 7,093 | 2,260 | 4,323 | 6,867 | | Net Cash from Operating Activities | 29,120 | 17,101 | 16,908 | 20,372 | 17,161 | | | | Proceeds from Sale/Mat. Inv. | 46,242 | 91,128 | 98,391 | 65,387 | 41,168 | | Purchase of Investment Securities | (48,722) | (80,110) | (152,644) | (55,593) | (45,314) | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (4,903) | (6,787) | (1,386) | (3,394) | (1,391) | | Acquisitions | (3,139) | - | - | - | - | | Other Investment Changes, Net | (657) | - | (3,395) | (3,880) | (3,330) | | Net Cash from Investing Activities | (11,179) | 4,231 | (59,034) | 2,520 | (8,868) | | | Net Change in Deposits | - | - | - | - | - | | Cash Dividends paid | - | - | - | - | - | | Repayment of Long Term Debt | - | - | - | - | - | | Change in Short Term Debt | - | - | - | - | - | | Issuance of Long term Debt | 208 | - | - | - | - | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 5,191 | 3,797 | 2,709 | 54,169 | 80 | | Purchase of Treasury Stock | (34,574) | (2,653) | - | - | (0) | | Other Financing Activities | 2,160 | 1,674 | - | - | - | | Cash from Financing Activities | (27,015) | 2,818 | 2,709 | 54,169 | 80 | | | | Effect of Exchange Rate Changes | (215) | (339) | (46) | - | - | | Net Change in Cash & Equivalents | (9,289) | 23,811 | (39,463) | 77,061 | 8,374 | | | Cash at Beginning of Period | 82,000 | 58,189 | 97,652 | 20,591 | 12,217 | | Cash at End of Period | 72,711 | 82,000 | 58,189 | 97,652 | 20,591 | | | |
