Game of Sefs: automation helps Tradeweb topple Bloomberg
Buy side’s desire for lighter-touch trading of interest rate swaps propels Tradeweb to top spot by volume
Corporate history is littered with examples of leading companies that have been laid low by disruptive technology.
In the electronically traded swaps space, Bloomberg’s swap execution facility (Sef) has been the dominant dealer-to-client execution venue in the US since the electronic mandate came into force, recording a 55% average market share by volume for interest rate swaps in 2014, according
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