$MKTX and $TW's success in corporate bonds has so far taken different paths.
$MKTX is going the pure-electronic route: easier to get small trades, harder to get big block trades.
$TW is going the "electronic-lite" route: easier to get blocks but can't compete w/smaller trades.
$MKTX investment grade share is at records but block share is flat at ~10%
Meanwhile $TW block share is rising fast but not "fully electronic" like $MKTX's:pic.twitter.com/LZm0rmM00m
9:43 AM - 28 Oct 2020
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