In 2000, a midwestern futures broker turned Wall-Street executive launched a radically new way to trade corporate bonds.
Today his new way of trading has created an $18 billion company and has become the accepted future of bond markets.
This is the story of Richard McVey 
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Replying to @HideNotSlide
Thanks. New to the sector. Any thoughts on the product/service offering of Tradeweb vs MarketAxess?
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Replying to @investturtle
Welcome. MarketAxess is the high flying darling of a stock focused on corporate bonds, with dominant market share. Premium valuation but scorching growth. Tradeweb is the diversified player, with Treasuries as no. 1 but also swaps, mortgages, and ETFs.
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Replying to @HideNotSlide @investturtle
If I had to choose one I'd go with Tradeweb just because I'm value-sensitive and TW is cheaper right now with similar growth narratives. I wouldn't call it a mistake to buy MKTX at today's prices, you're just buying a good company at full valuation.
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Replying to @HideNotSlide
Noted. Wonder whether the Refinitiv stake is depressing the price.
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IMO its a combo of: 1) flat yield curve hurting Treasury volumes 2) bank stockholders selling off their stakes slowly 3) uncertainty about Refinitiv (to your point)
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