Brilliant. Reminds me of wholesale equities price improvement exceeding the net to the wholesaler. The ecosystem works.
Many think electronic bond trading accelerated in 2020 because of the COVID WFH trend, but $MKTX COO Chris Concannon disagrees.
In reality, the market chaos convinced many that electronic trading really does save traders money.
Great quote explaining below:pic.twitter.com/n0ui5Kwvu3
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Doug I know it’s not your quote, but I’d be interested in your opinion. How could MKTX put a number on what they “saved” clients in this context? MKTX Bid/Ask vs BBRG runs (at the time of any MKTX executed trade)?
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How does he calculate the savings he said were achieved on the MKTX platform?
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Its a relative venue calculation - MarketAxess price was X, broker price was Y for same security Difference bw X and Y = savings, customer traded same security at lower cost electronically.
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