Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today announced it has launched a new and innovative
solution to help institutional investors trade Emerging Markets
(EM) products more efficiently. Developed in collaboration with
FXall - LSEG’s leading electronic platform for global currency
products - Tradeweb’s FX Swap Workflow is a multi-asset digital
solution linking trading workflows in local currency EM bonds and
FX swaps through a single user interface (UI).
The new FX Swap Workflow solution allows mutual clients of
Tradeweb and FXall to buy or sell an EM bond via the
Request-for-Quote (RFQ) or Request-for-Market (RFM) protocols on
Tradeweb and then seamlessly hedge the local currency risk by
executing an FX swap trade via direct connectivity to FXall.
Clients are able to request prices from multiple dealers
simultaneously on both legs of the transaction, helping to achieve
better real-time transparency and prove best execution. They also
benefit from existing straight-through-processing (STP) channels,
leading to greater automation and time-saving efficiencies.
“Facilitating the connection of our EM bond marketplace with
FXall’s liquidity pool provides buy-side traders with access to
enhanced and efficient local currency EM trading workflows,” said
Enrico Bruni, Head of Europe and Asia Business, Tradeweb. “Clients
trading EM products can now take advantage of markets that are
increasingly interlinked, while also benefitting from seamless
execution and STP. This latest innovation underpins our commitment
to creating solutions that cater to the needs of our EM clients,
and help them move risk more efficiently.”
“We are excited to provide our customers with an enhanced
multi-asset integrated workflow, replacing what used to be either a
voice-based process or a sequence of workflows split between
different trading desks,” said Neill Penney, Group Head of FX,
LSEG. “Greater collaboration between LSEG and Tradeweb has enabled
us to offer our mutual clients an effective solution in FX Swap
Workflow, with all the inherent advantages of electronic trading
and our world-class liquidity pools.”
Morgan Stanley acted as the liquidity provider for the first
transaction using Tradeweb’s FX Swap Workflow solution. Commenting
on the transaction, Volkan Dikmen, Managing Director at Morgan
Stanley, said: “We are supportive of new initiatives that help
markets evolve and become more streamlined, so we are proud to
provide liquidity for the first-ever trade bringing together EM
bond and FX swap markets.”
Tradeweb offers global EM cross-product execution with
comprehensive solutions across both bond and derivatives markets.
Product scope includes EM IRS, CNY IRS via Swap Connect, hard and
local currency bonds, portfolio trading for EM hard currency, EM
credit derivatives, and CNY cash bonds via Bond Connect and CIBM
Direct. More than 50 liquidity providers are currently supporting
hard currency Asia, CEEMEA and LATAM bonds, many of which are also
sending pre-trade streams and axes to facilitate smart dealer
selection. Clients are able to trade EM bonds across 21 local
currencies, with 11 more in the pipeline.
FXall is a leading electronic trading platform for global
currency products. FXall is part of LSEG (London Stock Exchange
Group), which is the majority stockholder of Tradeweb Markets.
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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230808420571/en/
Media Angeliki Kallipoliti, Tradeweb +44 (0)7824 327 073
Angeliki.Kallipoliti@Tradeweb.com
Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com
Investors 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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