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  • Tradeweb Supports U.S. Treasury's OTC Derivatives Initiative

    05/26/2009

    • Tradeweb is supportive of the U.S. Treasury Department's proposals in relation to regulation of over-the-counter (OTC) derivatives. In particular:

      • The drive for greater transparency and competition through electronic trading systems and exchanges
         
      • The requirement that standardized OTC contracts be cleared through regulated central counterparties (CCPs)
       
    • Tradeweb believes that the proper solution for the OTC derivatives market lies in enabling access for multiple trading systems to central counterparty clearing mechanisms. This strikes the right balance between fixing systemic problems, encouraging market innovation, and preserving effective choice.

       
    • In order for the markets to function efficiently, and for its participants to access appropriate levels of liquidity, trading mechanisms for OTC derivatives should reflect the particular needs and characteristics of the market, while providing the level of transparency outlined by a number of regulators and the U.S. Treasury department.

       
    • Tradeweb's derivatives trading platform offers the best of both worlds: it is embedded in the structure of the OTC markets, and reflects the characteristics of these markets, while at the same time it provides all the benefits of an electronic system - price transparency, a complete audit trail and connectivity to settlement and clearing processes.

    • About Tradeweb and Its OTC Derivatives Offering:

      • Tradeweb has been a leading global provider of online marketplaces for rates, credit and money market products for over 10 years
      • Tradeweb is regulated globally, including in the U.S. by the SEC, in the UK by the FSA, and in Japan by the JFSA
      • Tradeweb provides a range of trade processing services, including trade matching and allocation, as well as connectivity to third-party providers of settlement and confirmation services
      • Tradeweb launched its electronic OTC derivatives platforms in 2005
      • Since launch, Tradeweb has experienced 40% CAGR in global interest rate derivatives volumes
      • Tradeweb continues to develop and refine its trading platform and protocols for OTC derivatives adapting to the way the markets work in practice and adding efficiencies
      • The leading participants in the OTC derivatives markets provide liquidity to clients on Tradeweb, including: Barclays Capital, BoA/Merrill Lynch, BNPP, Credit Suisse, Citi, Deutsche Bank, Dresdner, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Natixis, RBS, Société Générale, UBS and shortly, Mitsubishi UFJ Securities International
      • Over $4 trillion of OTC derivatives have been traded on Tradeweb - more than 36,000 trades
      • More than 125 leading institutional clients are currently trading OTC derivatives on Tradeweb
      • Tradeweb displays real-time trade-validated bid and offer levels and distributes these prices through the Thomson Reuters network and other channels.
       
     

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