PT  - JOURNAL ARTICLE
AU  - Jason Lenzo
AU  - William Skimming
AU  - Ashley Grissom
AU  - Brandon Rasmussen
TI  - Does Trading in a Competitive Framework across Multiple Venues in Fixed-Income Markets Add Value?
AID  - 10.3905/jot.2013.8.4.081
DP  - 2013 Sep 30
TA  - The Journal of Trading
PG  - 81--86
VI  - 8
IP  - 4
4099  - https://pm-research.com/content/8/4/81.short
4100  - https://pm-research.com/content/8/4/81.full
AB  - 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