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NEW YORK – April 15, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, will release financial results for the first quarter of 2021 on Thursday, April 29 at approximately 7:00 AM EDT.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
NEW YORK – April 13, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced a collaboration with Amazon Web Services (AWS) to broaden access to its U.S. Treasury and U.K. Gilt closing price data through AWS Data Exchange, a service that makes it easy to find, subscribe to, and use third-party data in the cloud.
Portfolio trading in credit markets continues to take shape and change the way that many clients are trading corporate bonds. As this protocol continues to evolve, we will highlight significant activity and developments within the space. In this inaugural blog post, initial observations as a result of portfolio trading in the U.S. credit market are presented which sets the table for more in-depth discussions around the evolution of efficiency and liquidity in the future .
March was a mixed month for global government bond yields, with those for the U.S. 10-year Treasury note rising by 29 basis points to 1.75%. This was the benchmark bond’s fourth consecutive monthly yield increase and its highest closing point since January 2020. On March 17, the Federal Reserve maintained its asset purchases and kept interest rates near zero. According to the U.S. Bureau of Labor Statistics, total nonfarm payroll employment rose by 916,000 during the month, while the jobless rate edged down to 6%.
NEW YORK – April 6, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported record total trading volume for March 2021 of $24.7 trillion (tn). Average daily volume (ADV) for the month was a record $1.07tn, an increase of 7.3 percent (%) year over year (YoY). For the first quarter of 2021, total trading volume was a record $65.1tn and ADV was a record $1.06tn, an increase of 18.0% YoY, with preliminary average variable fees per million dollars of volume traded of $2.77.
A year ago, the coronavirus crisis nearly shuttered global markets. Volatility reigned and liquidity dried up as markets went full risk-off. Just over a decade after the calamitous Great Recession, another long and painful dislocation in the financial markets seemed inescapable as investors surveyed the wreckage wrought by March 2020.
NEW YORK – March 26, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has completed the first-ever fully electronic standardized total return swap trade based on IHS Markit’s iBoxx USD Liquid High Grade Index. J.P. Morgan was a counterparty to the trade, which was executed on the Tradeweb Swap Execution Facility.
With market transparency constantly increasing and the market making system improving, electronic trading is conducive to price discovery and market liquidity.
Investment professionals are carefully watching what will happen to the U.S. London Interbank Overnight Rate (LIBOR). LIBOR, which is a globally accepted, dominant key benchmark interest rate used to set borrowing costs between financial institutions, has faced some criticism in the past, especially around price manipulations. However, with an estimated $350 trillion in outstanding loans and trading contracts hinging on this calculation, it’s no surprise that long-term changes and the looming elimination of the rate is making many in the industry nervous. The fact that its phase-out date is not set in stone – the Federal Reserve on November 30, 2020 announced the phase-out would be extended to June 2023 -- adds even more confusion into the mix.