# EDGAR Filing Document

**Accession Number:** 0001146254
**File Stem:** 0001146254-26-000002
**Filing Date:** 2026-2
**Character Count:** 2691
**Document Hash:** a2e9514ee52300543751bf4109b7c2a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001146254-26-000002.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001146254-26-000002

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260227

**PERIOD START**: 20250101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ICAPITAL MARKETS LLC
- **CENTRAL INDEX KEY:** 0001146254

**ORGANIZATION NAME:**
- **EIN:** 522338891
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-53640
- **FILM NUMBER:** 26693288

**BUSINESS ADDRESS:**
- **STREET 1:** 60 EAST 42ND STREET
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10165
- **BUSINESS PHONE:** 347-227-3306

**MAIL ADDRESS:**
- **STREET 1:** 60 EAST 42ND STREET
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10165

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AXIO FINANCIAL LLC
- **DATE OF NAME CHANGE:** 20231206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ICAPITAL MARKETS LLC
- **DATE OF NAME CHANGE:** 20231204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AXIO FINANCIAL LLC
- **DATE OF NAME CHANGE:** 20180323

### Attached PDF Documents

**Attachment 1:** `icapitalpublicaudit.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001146254

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2025

**Report Period End Date:** 12-31-2025

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** ICAPITAL MARKETS LLC

**Business Address:** 60 EAST 42ND STREET, 26TH FLOOR, NEW YORK, NY, 10165

**Contact Person:** Keith George

**Contact Phone:** 212-668-8700

### Independent Public Accountant Identification

**Accountant Name:** Deloitte & Touche LLP

**Accountant Address:** 30 Rockefeller Plaza, New York, NY, 10112

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Stephen Houston**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **ICAPITAL MARKETS LLC**, as of **12-31-2025**, are true and correct.

**Signature:** Stephen Houston

**Title:** Head of Broker Dealer