Responses to OTC Derivatives Legislation
Tradeweb supports the passing of today's historic financial reform legislation. We believe that this new regulatory framework will drive the majority of over-the-counter derivatives trading to electronic platforms. However, history teaches us that the inevitable compromises made in the legislative process can lead to ambiguities as reforms are implemented.
Data Points - Market Insight Reports
(PDF, 164.94 K)
As the BP oil spill now enters its third month of uncontrolled gushing into the Gulf of Mexico, the enormous financial impact of the incident has begun to take its toll on the credit risk of the entire oil industry. By tracking asset swap spreads for a representative group of oil and exploration companies that includes BP, Shell, Total and Repsol, Tradeweb has found that even companies unrelated to the Gulf spill have seen their spreads widen dramatically.
Press Releases
Tradeweb announced today that Winterflood Securities Limited is the latest sell-side participant to join Autex, the pioneer in IOIs and FIX connectivity.
Data Points - Market Insight Reports
(PDF, 191.00 K)
Despite the sweeping bailout package and a government bond buying spree by European central banks, the Euro-Zone crisis is starting to impact corporations' ability to raise new capital. Spreads have widened considerably on credits for corporations based in the peripheral Euro-Zone countries - Portugal, Italy, Ireland, Greece and Spain - relative to those in the core European markets of Germany and France according to Tradeweb data.
Data Points - Market Insight Reports
(PDF, 377.55 K)
As the Euro-Zone credit crisis intensifies, the interest rate swaps market is showing resilience, according to Tradeweb. Globally, trading in all interest rate swaps on the Tradeweb platform has increased by more than 60% year to date compared to the same period in 2009. Average daily trading volume now exceeds $5 billion, with a DV01 average of more than $2 million in May.
Press Releases
Tradeweb today announced that institutional trading of interest rate swaps on its multi-dealer-to-client marketplace increased by more than 71% in the first four months of the year, compared to the same period in 2009.
Press Releases
Tradeweb and BlocSec, the first Asian dark pool which caters to both buy-side and sell-side investors, announced today the availability of direct access to Asian-based crossing network BlocSec via Autex Trade Route, a leading global FIX network.
Data Points - Market Insight Reports
(PDF, 185.24 K)
The inflation-linked security market is showing signs of renewed activity, following the increase in UK CPI reported this year. UK inflation increased from 3% to 3.4% in March and market participants have been increasing their participation in the Index-linked sector to express their views on the future of inflation and real rates of return in the UK.
Data Points - Market Insight Reports
(PDF, 195.92 K)
The short end of the U.S. Treasury market is showing signs of renewed activity, following the slight increase in yields over the past few weeks. The marked response to the modest change in the interest rate environment is an indication of the yield sensitivities in the marketplace. While bill yields are still less than 0.25%, it appears from activity on Tradeweb that this has been enough to draw buyers back into the market - either as a safe haven or for at least some positive return on investment.
Data Points - Market Insight Reports
(PDF, 224.11 K)
The end of the federal government's mortgage buy-back program has taken the market's biggest client out of the market, but activity is bouncing back. While the absence of explicit central government support for the TBA mortgage-backed securities market is significant, other factors, including the recent Fannie Mae/Freddie Mac prepayment program, could play a role in the return to normalcy.
