Tradeweb owns and operates electronic fixed income marketplaces that are disrupting traditional, inefficient voice brokered trading.
The company is gaining market share, and has a first mover advantage in the newly opened Chinese bond market.
The company trades at a discount to its closest peer and may emerge as a potential M&A target.
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Antiquated Market Structure
Centralized exchanges have historically not existed in the fixed income markets, leading to market structure problems.