Tradeweb Introduces Price Streams and iDeal Messaging Tool for Bond Connect Investors
03 Julho 2019 - 3:00AM
Business Wire
Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of
electronic marketplaces for rates, credit, equities and money
markets, has introduced a series of new features further optimising
offshore investors’ access to the Chinese Interbank Bond Market
(CIBM). The launch of dealer streaming prices and iDeal – the
messaging tool developed by the China Foreign Exchange Trade System
(CFETS) – on Tradeweb was announced during the Bond Connect
Anniversary Summit in Hong Kong today.
“In addition to pre-trade allocation, clients trading Chinese
bonds on Tradeweb benefit from improved price discovery, access to
a deep pool of liquidity, and operational efficiency thanks to
end-to-end electronic workflows,” said Lee Olesky, CEO of Tradeweb
Markets. “As the market reacts to China’s inclusion in global fixed
income benchmarks, these latest enhancements on the Tradeweb Bond
Connect platform position us as the complete solution for offshore
investors trading domestic bonds.”
Via Tradeweb’s connection to CFETS, all Bond Connect
participating dealers will be able to contribute live streaming
liquidity on a disclosed basis across bonds tradable in the CIBM,
thereby increasing pre-trade transparency and enhancing trade
counterparty selection. Tradeweb clients can customise the way they
view and access dealer pricing and inventory either by individual
security or liquidity provider. Clients can also opt to view the
five most competitive prices for a given instrument, a feature
which provides them with a clear indication of where the market is
and, in turn, better informs their trading strategy.
“We are focused on providing our Bond Connect customers with the
same innovative tools, flexible protocols, and streamlined
experience they are accustomed to when trading other institutional
asset classes on our platform,” said Enrico Bruni, head of Europe
and Asia business at Tradeweb. “Thanks to our early involvement in
the design and implementation of Bond Connect, we have formed a
deep understanding of the Chinese bond market and amassed a
significant level of local expertise.”
Furthermore, Tradeweb is now the only Bond Connect trading
platform to facilitate a single sign-on to CFETS’ iDeal instant
messenger, making it possible for offshore buy-side firms to
communicate and engage directly with onshore dealers prior to
submitting a request-for-quote (RFQ). Access to iDeal is fully
streamlined and traders, once connected, are not required to
register again.
Tradeweb was also the first trading platform to offer pre- and
post-trade allocations on Bond Connect, enabling international
investors to trade on behalf of multiple funds in one block trade
via the Tradeweb interface. Tradeweb Bond Connect allocations are
executed via RFQ, allowing users to take advantage of the
straight-through-processing benefits gained by pre-and post-trade
integration with order management systems. Tradeweb recently
increased the number of allocating sub-accounts from 30 to 50, a
development expected to facilitate foreign investor participation
in the Chinese bond market.
Bond Connect was established on July 3, 2017 to help open up
China’s onshore bond market, the world’s second largest according
to the Bank for International Settlements (BIS). Tradeweb was
selected as the first trading link to Bond Connect, after playing a
critical role in the initiative’s creation, development and design.
Since launch, USD 280 billion in CNY cash bonds has been executed
on Tradeweb across more than 18,000 fully electronic transactions.
Monthly average daily trading volume has risen by 406% since the
first month of trading in July 2017, reaching USD 1.1 billion in
June 2019. The number of onshore dealers providing liquidity on
Bond Connect has also increased from 34 to 47, while the number of
approved investors has reached 1,038.
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
approximately 2,500 clients in more than 60 countries. In an
average trading day, Tradeweb facilitates more than $570 billion in
notional value. For more information, please go to
www.tradeweb.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190702005738/en/
Susan Bennett +44 (0)20 3749 3316 Susan.Bennett@tradeweb.com
Angeliki Kallipoliti +44 (0)20 7776 0958
Angeliki.Kallipoliti@tradeweb.com
Jonathan Mairs +1 (646) 430-6176 Jonathan.Mairs@tradeweb.com
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