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  "notes": "The slide uses a split-layout comparing established ETF business with early-stage growth opportunities.",
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      "text": "TW INSTITUTIONAL ETF ADV CONTINUES TO GROW ($B)",
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      "text": "PRODUCT LAUNCHES: 2012 European ETFs, 2016 U.S. ETFs, 2017 Asian ETFs",
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      "text": "RATES: UST Directed Streams, Specified Pools, Emerging Markets Interest Rate Swaps. CREDIT: China Bonds, Portfolio Trading, Multi-Client Net Spotting. MONEY MARKETS: Bilateral Repo. EQUITIES: ADRs & Single Stock. MARKET DATA: Benchmarks.",
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      "text": "4. TANGIBLE GROWTH OPPORTUNITIES",
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      "text": "Electronifying Block ETFs & Investing in the Future",
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