| Rick McVey | ||||||
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."