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An Audience With

MarketAxess CEO Christopher Concannon: ‘By the time we got in on Monday, billions of dollars of Credit Suisse bonds had already traded’

The fixed income trading venue boss on the 'astounding' Credit Suisse drama, and why 2024 will be the year of the bond

'The generation that I grew up in was exposed to interest rates in the teens'
'The generation that I grew up in was exposed to interest rates in the teens' Photo: Danilo Agutoli for FN

When Swiss regulators moved in on Credit Suisse and UBS over the 18 March weekend, bond traders went back in time.

Thanks to technology, the market has moved away from voice trading and on to electronic platforms. But the chaos of the shotgun wedding between the cross-town rivals disrupted the bond market, and with trading platforms closed on Saturday and Sunday, the usual channels were cut off. Suddenly, voice made a two-day comeback

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