Bond Markets and Electronic Trading [MKTX and TW]

“The Fox knows many things, but the Hedgehog knows one big thing.”  Greek poet Archilochus  A Market Stuck in the Past  This quote aptly describes the differing strategies of MarketAxess and TradeWeb, which IPO’d last year. TradeWeb is the fox and MarketAxess is the Hedgehog. At their core, these companies are trading platforms, much like MSCI and SPGI. …

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