2016 Tech 50：Richard Mcvey

固定收入交易平台运营商MarketAxess的控股从2004年公开的公开，在今年第一季度的纪录（88.6百万美元）和税前收入（4440万美元），均为2015年期间的15％。总交易量高出27％，达到3100亿美元，公司的市场资本规模现在超过50亿美元。主席和首席执行官理查德借债过度据2000年，自从J.P. Morgan＆Co.的Labmorgan孵化器出现以来，谁领导了357员工公司。基于纽约的MarketAxess报告的美国高档公司债券交易的份额是第一季度的14.9％，而同比为13.7％。在2012年开放交易协议采取的风险正在放松。与经销商到客户模型相比，开放交易将经销商，资产管理人员，对冲基金和其他人一起放入单一的流动性池中。随着银行在经过传统市场制作的后期，开放式交易吸引了寻求流动性解决方案的投资者和金钱经理。“In a more fragmented credit market, we’re helping our participants electronically find trade matches,” says McVey, 56. “If we’re consistently delivering better prices on lots of orders and those are prices they can’t get anywhere else, then the buy side has to put more orders in.” First-quarter Open Trading volume more than doubled year-over-year, to $37 billion, from $17 billion. In Europe, where Open Trading was introduced in January 2015, clients traded $4.8 billion in European and U.S. credit products in the first quarter, 73 percent more than in the fourth quarter of 2015. With more than 1,000 market participants connected to MarketAxess and 600-plus buy-side firms using three or more products, “network effect” momentum is building, McVey says: Total bond volume through 2015 has grown at a 19 percent compound annual rate, with emerging markets at 27 percent and high yield at 49 percent. The company has launched client-to-dealer trading and Open Trading for municipal bonds, with 200 investment firms and 65 dealers. “We think this is a growing trend where both dealers and investors need a new model,” McVey says. “We’ve never invested more, and our investment budget is wildly high. We have an opportunity and responsibility to clients to invest back into the business.”

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