Tradeweb Launches Electronic Market for U.S. Certificates of Deposit
December 14, 2010 (New York); Tradeweb, a leading global provider of fixed income and derivatives markets, today announced the launch of a new electronic market for U.S. Certificates of Deposit (CDs) on the Tradeweb Money Markets platform. The Tradeweb Money Markets platform is the only electronic marketplace that provides executable commingled, real-time pricing of CDs delivered directly from leading dealers on a single screen.
The Tradeweb CD market offers a host of key advantages to institutional clients, including access to commingled indicative pricing for CDs, ranging in maturity from overnight to 13 months and the ability to request live, executable bids from up to five dealers at a time. Customized trade tickets provide quick and convenient access to primary and secondary offerings across a broad range of maturities through a flexible trade ticket screen designed to improve workflow. Trades are processed efficiently, reducing cost and operational risk, by incorporating pre- and post-trade processing during systems integration.
"We are pleased to step forward in broadening the Tradeweb Money Market offering with the launch of our new electronic platform for U.S. CDs," said Jon Williams, Managing Director and Head of U.S. Markets at Tradeweb. "As the fixed income markets continue evolving to improve transparency, execution speed and risk management, Tradeweb remains committed to providing flexible solutions to help increase transparency, liquidity and trade efficiency for our customers."
The comprehensive trading solution also supplies traders with several new tools and data, including:
Improved Issuer Lists and Filters to sort offerings and specific names
A Maturity Monitor to track all money market positions on a given date or range of dates
Real-Time CD Rates with accurate CD composite prices, listed by rating and maturity
Quick Ticketing to enter trades by security details and CUSIP
Enhanced CD Charting of the yield curve to gauge the market and specific offerings
The Tradeweb Money Markets platform was launched in 2001 as an electronic marketplace for U.S. commercial paper, followed by trading for agency discount notes in 2002. Since then, more than USD $59 trillion in commercial paper and $17.5 trillion in agency discount notes have been executed on Tradeweb and the money markets platform has grown to offer a comprehensive trading solution for short agency coupons, treasury bills, tri-party repos, commercial paper, agency discount notes and U.S. certificates of deposit.
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 and derivatives markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global fixed income and derivatives trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. In 2008, Tradeweb introduced inter-dealing broking capability with the acquisition of voice broker Hilliard Farber and subsequently launched Dealerweb, an electronic IDB platform. Tradeweb Retail provides a trading and sales application to fixed income brokers and traders.