What Does the Partnership Between BlackRock and MarketAxess Say About Aladdin?

Kevin McPherson, MarketAxess

BlackRock's recent announcement that it will be working alongside electronic market leader MarketAxess on the trading of corporate bonds has been called many things. BlackRock called it a "strategic alliance" and a "partnership." Others called it a "retreat," a "failure," and a "surrender."

Two weeks after BlackRock and MarketAxess, former rivals for a piece of the electronic credit market, emerged from the New York money manager's headquarters surprisingly holding hands, the industry still isn'

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