One thing is certain in the internet bond trading arena:
the present number of competing platforms is unsustainable. The
consolidation process started last month with the coming together
of Market Axess and Trading Edge.
Rick McVey, chief executive officer of Market Axess, believes that
the deal will create one of the strongest platforms in the game.
"The two businesses together will create a tremendous market
solution," he says.
He continues: "The theme throughout our business model is
aggregation of dealer capabilities across products and across
functions. Our secondary-inventory-application projects to the
client bonds that any of our dealers are involved in and price
levels where they would buy or sell those bonds. What typically
happens today is that the client gets this information from one
dealer at a time, by fax, phone, e-mail, whatever. We aggregate
this information electronically for our users and this greatly
improves the product and price-discovery process." ...
