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MarketAxess still dominates the landscape for electronic corporate bond trading in the US but competition has heated up in recent years with the arrival of a number of new, start-up venues, and older firms seeking to capitalise on investors’ growing adoption of electronic trading.
“To me they are confusing the reader rather than clarifying the result and that is not up to industry standard,” he told the Financial Times. MarketAxess reports numbers that only include fully electronic institutional trades, whereas Tradeweb adds in trades conducted over the phone that are then entered into the electronic venue afterward, Mr McVey pointed out. The data are also sporadic; Tradeweb’s last release was from November 2016. “We have phone trade capture too but we would never confuse the audience by commingling that with our electronic trading business,” Mr McVey said. RecommendedMarketAxess chooses Amsterdam as EU base after BrexitIn-depth: FT Trading Room
https://www.ft.com/content/d2c17fe2-722b-11e7-93ff-99f383b09ff9
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