Aladdin users trading U.S. and European
Credit to gain seamless access to Tradeweb’s AllTrade®
all-to-all liquidity network across institutional, wholesale and
retail markets
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today introduced the next phase of its previously
announced platform integration with BlackRock’s Aladdin order
execution management system (OEMS).
Tradeweb and Aladdin have begun to roll out the next phase of
the partnership, enabling Aladdin users trading U.S. and European
Credit access to enhanced liquidity via Tradeweb AllTrade,
Tradeweb’s network of anonymous liquidity which brings together
thousands of participants across institutional, wholesale and
retail markets. This expanded integration offers Aladdin users
trading via Tradeweb AllTrade access to new liquidity pools and
market sectors, including: Rematch, which provides access to
billions of unmatched risk from Tradeweb’s Dealer Sweep; Tradeweb
Direct, the firm’s retail platform offering live executable credit
streams in 26,000 securities daily, and Tradeweb’s network of more
than 350 institutional clients participating in the AllTrade
network. Tradeweb AllTrade made up 32% of in-comp RFQ for High
Grade credit and 44% for High Yield credit year-to-date through
November. Since launch in 2017, institutional all-to-all trading
has grown to represent nearly 28% of RFQ electronic volume.
Elisabeth Kirby, Managing Director, Head of Market Structure at
Tradeweb said: “Our goal is to facilitate end-to-end credit
workflow and allow clients to tap varied sources of liquidity. This
next phase of our partnership with Aladdin plays to the strength of
our comprehensive all-to-all network, while leveraging the Aladdin
platform’s extensive OEMS capabilities and broad institutional
client base to create greater liquidity, connectivity and
transparency across our markets. Since announcing our partnership
last year, we’ve made tremendous progress in improving access to
credit liquidity and look forward to rolling out this offering to
Aladdin clients.”
Tradeweb continues to report significant growth across the
credit platform, with average daily volume in credit trading
globally at Tradeweb averaging more than $27.0bn year-to-date
through November. In the last five years, the firm’s share of fully
electronic U.S. High Grade TRACE and fully electronic U.S. High
Yield TRACE has increased 5-fold to 16.6% and nearly 7-fold to
7.8%, respectively1. In the third quarter of 2023, Tradeweb
reported a record $137 billion in AllTrade volumes, an increase of
over 50% year-over-year.
Kamya Somasundaram, Global Head of Aladdin Partnerships said:
“We are excited to be working with Tradeweb on this next stage of
our multi-year partnership. Over the past year, we’ve had great
success in seizing opportunities that provide common clients with
more seamless access to liquidity and improved workflow efficiency
as credit markets continue to evolve.”
Tradeweb and BlackRock announced this multi-year partnership in
December 2022 to integrate Tradeweb’s credit trading solutions and
proprietary data onto BlackRock’s Aladdin OEMS. The first phase
allowed common clients to view Tradeweb’s Ai-Price, which provides
real-time prices for nearly 25,000 corporate bonds, Liquidity
Score, and select dealer axe streams in the Aladdin platform.
Tradeweb and BlackRock plan to expand on the partnership by
introducing additional phases with new features such as direct
access to Tradeweb’s RFQ and Automated Intelligent Execution (AiEX)
protocols.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets. Founded in 1996, Tradeweb provides access to markets, data
and analytics, electronic trading, straight-through-processing and
reporting for more than 40 products to clients in the
institutional, wholesale and retail markets. Advanced technologies
developed by Tradeweb enhance price discovery, order execution and
trade workflows while allowing for greater scale and helping to
reduce risks in client trading operations. Tradeweb serves more
than 2,500 clients in more than 65 countries. On average, Tradeweb
facilitated more than $1.2 trillion in notional value traded per
day over the past four quarters. For more information, please go to
www.tradeweb.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Statements related to,
among other things, our outlook and future performance, the
industry and markets in which we operate, our expectations,
beliefs, plans, strategies, objectives, prospects and assumptions
and future events are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
____________________________ 1 Fully electronic U.S. High Grade
TRACE share was 16.6% in Q3 2023 (vs. 3.5% in Q3 2018); Fully
electronic U.S. High Yield TRACE share was 7.8% in Q3 2023 (vs.
1.2% in Q3 2018)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231208211137/en/
Media contact: Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com Investor contacts: Ashley Serrao,
Tradeweb +1 646 430 6027 Ashley.Serrao@Tradeweb.com Sameer
Murukutla, Tradeweb +1 646 767 4864
Sameer.Murukutla@Tradeweb.com
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