In 1999, Cantor Fitzgerald's eSpeed owned the Treasury market. Today they have less than 10% of a business they once dominated. A thread on how competition, government action & 9/11 changed eSpeed's trajectory & the balance of power in the government bond market:
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The 90s were a golden era for Cantor Fitzgerald. The firm served as the top Treasuries bond broker with 90%+ market share. In 1999, they launched electronic platform eSpeed and began migrating customers onto their new screen.pic.twitter.com/rb1nF2Gq4Z
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Replying to @HideNotSlide
now do you know why Cantor owned the treasury market in the 90's?
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Replying to @ltabb
Not super well, other than they were very early to embrace the screen & had a global presence. Would love to hear your thoughts.
6:10 AM - 23 Nov 2020
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