%0 Journal Article %A Jason Lenzo %A William Skimming %A Ashley Grissom %A Brandon Rasmussen %T Does Trading in a Competitive Framework across Multiple Venues in Fixed-Income Markets Add Value? %D 2013 %R 10.3905/jot.2013.8.4.081 %J The Journal of Trading %P 81-86 %V 8 %N 4 %X How does the price received from a single dealer on a trade compare with the price received in a competitive bid–offer process, regardless of the specific dealer’s motivation? During the course of our own trading over multiple years, we have collected data that captures a variety of trade attributes. From this data library, we can analyze the outcomes that clients might reasonably expect to achieve under comparable circumstances. Importantly, we can provide a quantitative answer to the question of how much better or worse off a client might have been had they traded with only a single dealer instead of multiple dealers.TOPICS: Security analysis and valuation, statistical methods %U https://jot.pm-research.com/content/iijtrade/8/4/81.full.pdf