Tradeweb Introduces Enhanced Functionality for Portfolio Trading
May 17 2022 - 8:00AM
Business Wire
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today announced it has rolled out new functionalities for
its electronic portfolio trading tool, increasing flexibility and
efficiency for institutional clients.
Trade on spread at market close: This is an important
step forward in credit trading; it is particularly useful to
clients deploying passive investment strategies that benefit from
executing trades at the market close, and also offers clients more
flexibility to arrange these trades in advance of the close.
Tradeweb estimates that roughly 30% of all portfolio trades are
executed using closing prices, presenting an opportunity to further
electronify more of these large and critical trades at the close.
This enhancement follows Tradeweb’s Trade at Close functionality
announced in October 2021, and allows clients to benefit from the
vast scale of the Tradeweb network by building on previous
innovations including: Tradeweb Ai-Price, which provides real-time
prices for nearly 25,000 corporate bonds, and Tradeweb’s
Multi-Client Net Spotting (MCNS), which nets hedging activity
across Tradeweb clients spotting at the same time.
Increased line item capacity: Tradeweb has increased the
capacity of its portfolio trading tool to more than 2,000 line
items. This increase strengthens Tradeweb’s ability to put multiple
dealers in competition and to transfer large amounts of risk in a
single portfolio trade. Portfolio trading has experienced record
growth at Tradeweb, with average daily volume (ADV) of $1.4 billion
(bn) in the first quarter of 2022 and an increase of over 50% YoY
in the number of clients using our tool. Since launching portfolio
trading in 2019, Tradeweb has seen global portfolio trading ADV on
the Tradeweb credit platform grow more than 725%.
Chris Bruner, Head of U.S. Institutional Fixed Income at
Tradeweb, said: “We collaborate closely with our clients to seek
out new ways to enhance the portfolio trading process, building off
of previous Tradeweb innovations like Tradeweb Ai-Price and MCNS
that our clients have already integrated into their trading
workflow. Targeted enhancements like these are driven in part by
the evolving needs of our market and our clients’ willingness to
embrace these innovations.”
As the first platform to offer electronic portfolio trading for
corporate bonds, Tradeweb continues to build technologies that
improve efficiency, transparency and accuracy in the corporate bond
market. These enhancements come as Tradeweb continues to experience
significant growth across the credit platform, with average daily
volume in credit trading globally at Tradeweb averaging $33.2bn in
first quarter 2022. In the last four years, the firm’s share of
U.S. High Grade TRACE has more than doubled to 22.5% in first
quarter 2022, while U.S. High Yield TRACE has more than tripled to
10.9%.
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
trillion in notional value traded per day over the past four fiscal
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. In particular, preliminary average
variable fees per million dollars of volume traded are subject to
the completion of management’s final review and our other financial
closing procedures and therefore are subject to change. 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/20220517005148/en/
Media Contact Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com
Investor Contact Ashley Serrao, Tradeweb + 1 646 430 6027
Ashley.Serrao@Tradeweb.com
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