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How many traders, desk analysts and quants does it take to price a corporate bond? If you were to answer that question even a few months ago, the number could be as high as a half-dozen. Parties on both sides of the trade would be tasked with checking whether the bond traded recently, analyzing current credit and business conditions, digging into individual bond attributes and taking the pulse of the marketplace to see if the other side of the trade agrees with the price. For a complex trade involving a large portfolio of corporate credits, the process could have taken days.
NEW YORK – May 21, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it will participate in the 10th annual Deutsche Bank Global Financial Services Conference. Tradeweb President Billy Hult will address the ‘virtual’ conference on Tuesday, May 26, 2020 at 2:00pm EDT. A live webcast of the session will be available via http://investors.tradeweb.com. A replay will be accessible at the same site for approximately 180 days following the conclusion of the event.
Corporate bond markets are at the center of the recent spike in financial market volatility. This is due to the challenge to corporate funding that the response to the COVID-19 virus has provoked. The current financial crisis finds a vastly different financial system than that which existed in 2008. This is particularly true for corporate bond market structure. Electronic trading platforms in credit had not achieved prominence by the time of the last crisis, and it is important to recognize the key role e-trading has come to play in the bond markets, particularly in times of uncertainty.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
Fixed income products are among the most actively traded in the world, and global notional outstanding of rates and credit stands at approximately $611 trillion1 according to the latest available data. Still, despite their size, these markets can be illiquid – less than 5% of U.S. corporate bonds, as an example, change hands on a daily basis. In addition, there’s further variance across issuers, maturity dates, coupons, structures and contract terms.
New York, May 7, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended March 31, 2020.
While market volatility was much more subdued in April compared to March, 10-year government bond yields mostly declined, as central banks intervened with stimulus efforts to support economic recovery and stability
NEW YORK – May 5, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported average daily volume (ADV) of $763.4 billion (bn) in April, an increase of 14.6 percent (%) year over year (YoY).
Although regulators have kept the target end-date intact for the LIBOR transition, they have acknowledged that due to the headwinds linked to COVID-19, a few segments of the UK market would not be able to meet some of the interim transition milestones and that all timelines would be kept under review. “The central assumption that firms cannot rely on LIBOR being published after the end of 2021 has not changed,” stated the joint statement on the “Impact of the coronavirus on firms’ LIBOR transition plans” by the FCA, Bank of England and members of the Working Group on Sterling Risk-Free Reference Rates on March 25th 2020. For all intents and purposes, it is business as usual for teams managing the LIBOR transition, with the UK being the furthest along in this process.
NEW YORK – April 27, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the closing of its follow-on offering of 12,835,245 shares of its Class A common stock, including the full exercise by the underwriters of their option to purchase 1,674,162 shares of Class A common stock, at a price to the public of $50.25 per share.