In 1996, the internet had yet to make significant inroads into financial markets. Trading floors were noisy, energetic places, where traders yelled into phones—and at each other—as they bought and sold securities. Lee Olesky, then at Credit Suisse First Boston, and his colleague Jim Toffey, recognized the potential of this new technology to transform the piece of the financial sector they knew best: the fixed-income market, where bonds and other debt securities are traded.
The company they founded, Tradeweb, became one of the first internet-based platforms for trading fixed-income securities. Fast forward 20-plus years, and Tradeweb averages $1 trillion in trading volume daily, serving banks, insurance companies, brokerage firms, pension funds, and other institutions globally.
“The theme throughout this has been to build new tools,” says Olesky, now Tradeweb’s chief…
