Consolidation, Algo Trading Coming to Corporate Bonds Platforms
MarketAxess CEO Rick McVey anticipates a market consolidation of the corporate bond trading platforms that have sprung up in recent years, but the market forces that drive it will not be those that drove the last wave of consolidation in the early 2000s.
"This is different architecture for a different time and different regulations," McVey said during last week's Tabb Group conference on fixed income.
McVey estimates that MarketAxess had 70 e-trading competitors when it set up shop in 2000
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