The Tradeweb surprise corporate bond takeover story continues in June... $MKTX -6% even though share recovered slightly M/M
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What's the story here? Tradeweb is taking share ie positive read through for LSE?
The story is two fold: 1) Tradeweb's addressable market share may be higher than once estimated 2) MarketAxess's addressable market share my be lower than once estimated The flowthrough benefits for LSE are there but I think more focus is on MKTX disappointment for now
