Tradeweb Completes Final Technology Milestone of Integrating the Nasdaq U.S. Fixed Income Electronic Trading Platform
Dealerweb CLOB relocates primary data center, establishes strategic and central hub for wholesale U.S. Treasuries
NEW YORK – March 29, 2023 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has achieved the final significant technology milestone relating to the company’s 2021 acquisition of the Nasdaq Fixed Income platform (formerly eSpeed) into its Dealerweb central limit order book (CLOB).
The Dealerweb CLOB has relocated its primary data center to Equinix NY5 (Secaucus, NJ), providing enhanced infrastructure, improved performance and a closer connection with a broader range of customers resulting in a faster and consistent trading experience. The data center was formerly located at Equinix NY11 (Carteret, NJ).
“This move optimizes performance for market participants by placing Dealerweb U.S. Treasury (UST) trading and price discovery in closer proximity to trading customers and vendors with an existing presence in Equinix NY5,” said Tradeweb President Thomas Pluta. “Dealerweb is committed to offering the best possible trading experience for our clients, and by realizing operational synergies we can continue to provide reliable and leading-edge trading services to our clients.”
Equinix NY5 provides equalized cross-connections to its NY2, NY4, and NY5 locations. The result is a deterministic trading experience with improved performance, achieving mean latencies of approximately 30µs. The west-to-east UST long haul data terminates at NY2, providing proximity to UST data and insight into correlated UST products. Equinix NY5 serves as the data center for many existing clients.
“Dealerweb’s infrastructure and data center move to the Equinix campus in Secaucus demonstrates its commitment to providing a best-in-class service to UST trading participants,” adds Troy Kane, Global Head of Derivatives and FICC Development at Citadel Securities. “The equalized connections and the strategic location provide close proximity to important network paths from Chicago to Secaucus. Citadel Securities is supportive of the move and what it will mean for Dealerweb’s position in the market.”
In addition to delivering enhanced trading, price discovery and onboarding for wholesale UST, this move will enable Dealerweb to consolidate numerous UST “on-the-run” products. Later this year, Dealerweb plans to also move its Actives Streams (DWAS) matching engine to Equinix NY5, providing a single cross-connect for both the CLOB and Active Streams, and a single straight-through processing (STP) feed for both. The DWAS matching engine is currently located at Cyxtera NJ2X (Weehawken, NJ).
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
Ashley Serrao, Tradeweb +1 646 430 6027
Sameer Murukutla, Tradeweb +1 646 767 4864
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Tradeweb Completes Acquisition of Nasdaq’s U.S. Fixed Income Electronic Trading Platform