Tradeweb and FTSE Russell Launch Closing Prices for Euro Government Bonds
Benchmark end-of-day pricing for Euro-denominated government bonds calculated in accordance with IOSCO principles and EU Benchmark Regulation
LONDON – 24 May, 2023 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has collaborated with FTSE Russell to launch benchmark closing prices for European government bonds. Calculated in accordance with the EU Benchmark Regulation, Tradeweb FTSE Euro Government Bond Closing Prices are available from Tradeweb and provide end-of-day reference prices for Euro-denominated nominal bonds issued by Austria, Belgium, Finland, European Union, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal and Spain.
Tradeweb is the Calculation Agent and FTSE Russell is the Benchmark Administrator for Tradeweb FTSE Euro Government Bond Closing Prices. Tradeweb calculates the closing prices based on data from its dealer-to-client trading platform.
Tradeweb FTSE Euro Government Bond Closing Prices follow the same robust calculation methodology as Tradeweb’s well-established UK Benchmark Regulation prices for UK Gilts, which are produced in accordance with the IOSCO Principles for Financial Benchmarks. Trusted reference price data is critical for financial firms to manage investment portfolios, evaluate the fair value of securities, perform compliance and satisfy general accounting standards.
“With bond indices, ETFs and trade-at-close strategies becoming more and more integral to fixed income markets, the need for reliable and transparent closing price data has never been greater,” said Enrico Bruni, Head of Europe and Asia Business at Tradeweb. “FTSE Russell is a global leader in benchmarking and we look forward to extending our successful collaboration to other global markets going forward.”
“Having a robust and transparent methodology, that is administered according to IOSCO Principles for Financial Benchmarks, is core to providing credible reference pricing,” said Scott Harman, Global Head of Fixed Income and Multi-Asset Indices at FTSE Russell. “As a leading electronic trading platform for European government bonds, Tradeweb has a strong understanding of these markets and the important role this data plays across bonds, ETFs and indices.”
A record USD 42.4 billion in average daily volume was executed on Tradeweb’s European Government Bond platform in Q1 2023, up 12% from Q1 2022. The marketplace provides institutional investors with access to liquidity from more than 40 of the world’s largest market makers in bonds from 19 European countries in six currencies (EUR, GBP, DKK, SEK, NOK, CHF).
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 $1.1 trillion in notional value traded per day over the past four quarters. For more information, please go to www.tradeweb.com.
Daniel Noonan, Tradeweb, +1 646 767 4677
Angeliki Kallipoliti, Tradeweb, +44 7824 327073
Ashley Serrao, Tradeweb, +1 646 430 6027
Sameer Murukutla, Tradeweb, +1 646 767 4864
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