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Treasury Traders Shy Away From Order Books – Greenwich Associates 

Full Article: Greenwich Associates

A question we posed in a recent research study to the buy side was, first, do you trade on-the-run U.S. Treasurys via an order book?  95% said no. We then asked if they thought gaining access to an order book market for U.S. Treasurys would improve their over execution quality – only 16% thought it would.

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  • Slider
    SliderFebruary 2, 2018"If I am understanding this correctly, the Greenwich study is based on 26 respondents and unclear if the 15-20% that chose not to respond are part of the 26. Given the conclusions Greenwich is willing to make on such a small sample, I think it is safe to assume the respondents are amongst the world's largest. Therefore surprised to read "It is very possible that many investors just don’t know what they’re missing". The largest money managers in the world are that unsop…"

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Slider
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If I am understanding this correctly, the Greenwich study is based on 26 respondents and unclear if the 15-20% that chose not to respond are part of the 26. Given the conclusions Greenwich is willing to make on such a small sample, I think it is safe to assume the respondents are amongst the world’s largest. Therefore surprised to read “It is very possible that many investors just don’t know what they’re missing”. The largest money managers in the world are that unsophisticated (being kind here)? And I don’t buy the risk aversion to losing your job argument either. Also… Read more »
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