If "D2D" and "D2C" are confusing, SIFMA helps visualize the differences below:pic.twitter.com/Y7A2kte70Q
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Below chart helps organize the competitive landscape for the US Treasury market. CME dominates the D2D space but Tradeweb could shake things up w/eSpeed. Tradeweb & Bloomberg are neck and neck in the D2C space where electronic growth still has room to run.pic.twitter.com/Jca38IeBDC
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