Market Axess Loses DrKW
CONNECTIVITY
LONDON--Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has withdrawn from the European arm of Market Axess, the multi-dealer credit platform, with the intention of starting its own direct trading service for its customers.
The loss will not greatly affect the service because DrKW contributed less than one percent of Market Axess’ liquidity and did not offer any unique products, says Market Axess CEO Rick McVey. More firms are embracing the model, says McVey.
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