3 Chicago firms dominate Treasury trading — nearly in secret
from Crain's Chicago Business
Trading in the $12.7 trillion U.S. Treasuries market, once the domain of Wall Street’s biggest banks, is increasingly dominated by firms most people have never heard of. Determining which ones is largely guesswork, however, which is peculiar in this market, which is the deepest, most liquid in the world and sets the benchmark rates for everything from mortgages to corporate debt.
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