Tradeweb Launches Multi-Dealer Trading Platform For FX Options
Provides Faster Pricing Simultaneously From Multiple Dealers
LONDON February 16, 2012: Tradeweb Markets LLC announced the introduction of an electronic, multi-dealer-to-customer trading platform for FX options. This is the fourth derivatives marketplace to have been launched by Tradeweb since 2005. The new platform enables options trading on major currencies and allows buy-side investors to request quotes from several dealers simultaneously. Participants also benefit from integrated trade processing and post-trade reporting.
“Derivatives traders are seeking access to high-quality liquidity, fast execution, and efficient processing,” said Enrico Bruni, head of European markets at Tradeweb. “Our FX options platform addresses these needs by providing clients with competitive dealer auctions, full workflow integration and electronic post-trade processing. Clients can now achieve the improved level of performance that they are striving for in today’s markets.”
Seven leading dealers are currently providing liquidity to the marketplace, while several other firms are in the process of joining the platform as liquidity providers.
Users of the Tradeweb FX options platform can trade outright plain vanilla currency options or multi-leg strategies on a live or delta-exchange basis. The G10 currencies are initially supported. The platform utilizes the multi-dealer request-for-quote (RFQ) trading protocol pioneered by Tradeweb for the fixed income markets, allowing clients to hold a real-time auction with multiple dealers.
The new FX options marketplace extends Tradeweb’s legacy of innovation in derivatives, and follows the launch of platforms for interest rate and credit default swaps in 2005, and equity derivatives in 2010.
Tradeweb Markets LLC
Tradeweb Markets builds and operates many of the world’s most efficient financial marketplaces, providing 2,000 institutional investors and dealers with greater transparency and better ways to execute their business. In addition to its dealer-to-institutional client marketplace, the company operates Dealerweb, its inter-dealer division, which includes the Hilliard Farber & Co, Inc, RaffCap, and JJ Kenny Drake groups. Tradeweb Markets also provides trading services to the financial advisor community through its Tradeweb Retail platform.
For more information, visit www.tradeweb.com