LSEG Capital Markets Day 2023 Day 2 Session 2 Transcript
Okay. Welcome back, everyone. And I see you've all got a lot of notes. Welcome back to everyone on the webcast. We have now set aside now for Q&A with David, Anna, Satvinder and Ron. And let's kick off. So hands up for questions, please.
Questions & Answers
Yes. Thank you, Kyle. Sorry, you have microphones. If you wait for the microphone so the webcast can -- stick your hand up, Kyle.
Maybe just start with a question on EBITDA margins. Just the way that you laid out in the slide, the 3 segments, 52% for Capital Markets and Post Trade. And for Data & Analytics, specifically, 45%, and you showed that the peers are at 51%. So the question really is, given what we heard from Tradeweb with less expectation for margin expansion into the future, should we expect that really a majority of
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