Europe
U.K. AND EUROPE
Tradeweb Europe Limited ("Tradeweb Europe") is authorized and regulated by the U.K. Financial Conduct Authority ("FCA") as an investment firm with permission to operate as a Multilateral Trading Facility ("MTF"). Tradeweb Europe is a U.K. registered company (company number 03912826) with its registered office at 99 Gresham Street, London EC2V 7NG. The FCA regulates the financial services industry in the U.K. and is located at 25 The North Colonnade, Canary Wharf London E14 5HS.
The rules of the FCA Handbook require Tradeweb Europe to disclose the criteria for governing who can access the system in the EU. Tradeweb Europe will only grant access to an entity that meets one or both of the following criteria:
(a) it is a regulated investment firm or credit institution; or
(b) it is a person who:
• is fit and proper;
• has a sufficient level of trading ability and competence;
• has, where applicable, adequate organizational arrangements; and
• has sufficient resources for the role it is to perform.
The rules and procedures for accessing the Tradeweb System are set out in the User Guide.
Tradeweb Europe provides facilities for trading in the following products:
(a) European Government Bonds;
(b) U.S. Treasuries;
(c) Agency Discount Notes;
(d) European Commercial Paper;
(e) European Credit Bonds;
(f) Credit Default Swaps;
(g) Interest Rate Swaps;
(h) Mortgage Backed Securities;
(i) Pfandbriefe/Covered Bonds;
(j) Supranationals
(k) U.S. Agencies;
(l) U.S. Commercial Paper;
(m) Deposits;
(n) Japanese Government Bonds;
(o) European Equity Derivatives;
(p) European Repo;
(q) FX Options;
(r) Exchange-traded Funds.
In order to be a market maker in U.K. Government Bonds (Gilts) on the Tradeweb system, the firm needs to be a recognized Gilt-edged Market Maker (GEMM).
The attached document provides the disclosures required for Tradeweb Europe Limited as required under the UKCapital Adequacy Rules - FSA's Pillar 3.
Use of the system for legitimate purposes
An individual user of the Tradeweb system may use the system as a buy-side customer or as a market making dealer in each individual market segment in which he/she trades over the system, but not both.
Access Criteria for being a market making dealer on Tradeweb's European Government Bonds Platform ("EUGV Platform")
(a) To be a market making dealer on the EUGV Platform, the dealer must be a primary dealer (or equivalent) in one or more European Government Bond markets supported on the Tradeweb System. In addition, in order to be a market making dealer in UK Government Bonds (Gilts) on the Tradeweb system, the market making dealer needs to be a recognised Gilt-edged Market Maker (GEMM).
(b) A market making dealer must have an established trading and sales presence with at least 30 institutional buy-side customer relationships with whom they currently trade European Government Bonds.
Access criteria for being a market making dealer on Tradeweb's European Interest Rate Swaps Platform, European iTraxx Platform, European Credit Bonds Platform, Pfandbriefe and Covered Bonds and Supranationals Platforms
A market making dealer must have an established trading and sales presence with at least 30 institutional buy-side customer relationships with whom they currently trade the relevant product.
Access criteria for being a market making dealer on Tradeweb's European Equity Options Platform
A market making dealer must have an established trading and sales presence with at least 50 institutional buy-side customer relationships with whom they currently trade European Equity Options and must be a general clearing member (GCM) of a recognised clearing house based in the European Union.
Access Criteria for being a market making dealer on Tradeweb's European Depo Platform
The dealer must be a deposit taking institution authorized in Europe.
Access Criteria for being a market making dealer on Tradeweb's FX Options Platform
A market making dealer must have an established trading and sales presence with at least 30 institutional buy-side customer relationships with whom they currently trade FX Options and must be a Settlement Member of a CLS Bank within the CLS Bank International Rules.
Access Criteria for being a market making dealer on Tradeweb's ETF Platform
A market making dealer must have an established trading and sales presence with at least 50 institutional buy-side customer relationships with whom they currently trade European based ETFs listed on the Tradeweb system.