The buy-side trader lets slip that he has been asking Tradeweb, operator of one of the big client-to-dealer trading venues, to supply hard numbers on banks’ hit rates: the percentage of orders that clients actually manage to fill against their quotes.
“We’re not asking for their hit rates with specific institutional investors, or even in specific bonds, but for a general idea across various market segments. But Tradeweb won’t give us that data, citing client confidentiality.
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