Tradeweb Adds Japanese Government Bonds to Its Global Multi-dealer Trading Platform
LONDON, December 2, 2008 - Tradeweb, a leading provider of on-line markets to institutional investors and dealers, announced today that it has added Japanese Government Bond (JGB) trading to the Tradeweb platform. JGBs complement Tradeweb's Yen Swap marketplace, launched earlier this year, and are an important and logical expansion of its government bond franchise, which includes US Treasuries, Euro-denominated and Scandinavian Government Bonds, and UK Gilts.
Leading global dealers Citi, Deutsche Bank, J.P. Morgan, RBS and UBS are providing liquidity initially during extended Asian trading hours (9.00 AM to 6.00 PM JST). This enables Tradeweb clients in Japan and around the world to trade JGBs more efficiently and to see real-time, indicative price information. Other advantages include the ability to request a price quote from up to five dealers at the same time - helping clients to meet compliance obligations quickly and easily, a complete audit trail, and a full straight-through processing solution to reduce operational risk.
"Yen-denominated markets are among the largest in the world. Our Tokyo-based data hub has enabled us to expand our fixed income and derivatives offering to include Japanese products to clients in the region and around the world," said Lee Olesky, Chief Executive Officer of Tradeweb.
"Tradeweb provides a valuable global distribution network that will highlight the attractiveness of yen-denominated products to institutional clients around the world," said Jason Evans, Managing Director, Head of Core Rates Trading Japan at Deutsche Bank.
"J.P. Morgan values its partnership with Tradeweb for the electronic trading of a growing number of financial products. JGBs are yet another example of how they help us provide world-class liquidity, transparency and straight-though processing for our customers," stated Ville Vaataja and Bill Cikin, Managing Directors and Co-Heads of Yen Rates Trading at J.P. Morgan.
Tradeweb is a leading provider of online markets and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income, derivatives, and equity markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. With its expansion into the equity markets, Tradeweb is leveraging AutEx, the industry leader for 40 years in providing indications of interests, and Tradeweb Routing Network, a global FIX network with more than 7,000 connections to over 750 firms. Tradeweb is owned by Thomson Reuters and nine leading global dealers: Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Merrill Lynch, Morgan Stanley, The Royal Bank of Scotland, and UBS.