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NEW YORK – February 2, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced that it has entered into a definitive agreement to acquire Nasdaq’s U.S. fixed income electronic trading platform. The Nasdaq platform (formerly known as eSpeed) is a fully executable central limit order book (CLOB) for electronic trading in on-the-run (OTR) U.S. Treasuries. Nasdaq’s CLOB will become part of Dealerweb, serving the firm’s wholesale sector.
The sterling swap market is at a critical juncture for completing the transition away from LIBOR to SONIA by the end of the year. 2021 saw a strong start for SONIA, in terms of liquidity and robust trading, as the switch away from sterling LIBOR continues to drive momentum.
Until recently, U.S. corporate bond investors have faced a unique and costly set of challenges due to the spread-based convention of most investment grade credit trading. Historically, this has meant that any purchase (sale) of a corporate bond on spread needs to be accompanied with the sale (purchase) of a U.S. Treasury to offset the interest rate risk inherent in the corporate bond. With traditional line by line workflow, this manual spotting process is clunky and costly at best.
NEW YORK – January 27, 2021 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has launched Multi-Client Net Spotting, a new tool that significantly enhances how credit market participants access the U.S. Treasury market to hedge their risk.
SHANGHAI, LONDON --Jan. 27, 2021-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the appointment of James Sun as Managing Director, Head of Asia.
In the expansive and fragmented traded corporate bond market, it’s imperative for institutional traders to leave no stone unturned when searching for liquidity.
What were the key theme(s) for your business in 2020? For us it was certainly the accelerated trend towards more electronic trading. This trend had been playing out for some time, but in 2020 it really reached a new level due to remote work, massive debt issuance and periods of intense market volatility. Remote work was in many ways the most important of these because it has changed behaviors — and that’s what speeds up the adoption of technology.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
In addition to the yearly seasonal inflationary increase that typically occurs before the holiday period, rising inflation as a result of Covid driven government spending has been hitting headlines lately. These recent developments have led market participants to carefully assess their long-term exposure to inflation and whether it’s best to hedge now or going forward. Volumes for the inflation swap market have been increasing as a result.
The wild swings in government bond yields that characterized most of 2020 were largely muted in December. Bucking the trend, the UK 10-year Gilt yield ended the month nearly 12 basis points lower at 0.19%. A steep rise in COVID-19 cases prompted new restrictions in the country, while officials raced to finalize an agreement on post-Brexit EU-UK relations. On December 17, the Bank of England left its monetary policy unchanged, keeping the bank rate at 0.1% and the target for asset purchases at GBP 895 billion by the close of 2021.