Tradeweb and LSEG’s FXall Collaborate to Launch FX Swap Workflow Solution for Local Currency Emerging Markets Bonds
8.8.2023 11:00:00 EEST | Business Wire | Press release
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has launched a new and innovative solution to help institutional investors trade Emerging Markets (EM) products more efficiently. Developed in collaboration with FXall - LSEG’s leading electronic platform for global currency products - Tradeweb’s FX Swap Workflow is a multi-asset digital solution linking trading workflows in local currency EM bonds and FX swaps through a single user interface (UI).
The new FX Swap Workflow solution allows mutual clients of Tradeweb and FXall to buy or sell an EM bond via the Request-for-Quote (RFQ) or Request-for-Market (RFM) protocols on Tradeweb and then seamlessly hedge the local currency risk by executing an FX swap trade via direct connectivity to FXall. Clients are able to request prices from multiple dealers simultaneously on both legs of the transaction, helping to achieve better real-time transparency and prove best execution. They also benefit from existing straight-through-processing (STP) channels, leading to greater automation and time-saving efficiencies.
“Facilitating the connection of our EM bond marketplace with FXall’s liquidity pool provides buy-side traders with access to enhanced and efficient local currency EM trading workflows,” said Enrico Bruni, Head of Europe and Asia Business, Tradeweb. “Clients trading EM products can now take advantage of markets that are increasingly interlinked, while also benefitting from seamless execution and STP. This latest innovation underpins our commitment to creating solutions that cater to the needs of our EM clients, and help them move risk more efficiently.”
“We are excited to provide our customers with an enhanced multi-asset integrated workflow, replacing what used to be either a voice-based process or a sequence of workflows split between different trading desks,” said Neill Penney, Group Head of FX, LSEG. “Greater collaboration between LSEG and Tradeweb has enabled us to offer our mutual clients an effective solution in FX Swap Workflow, with all the inherent advantages of electronic trading and our world-class liquidity pools.”
Morgan Stanley acted as the liquidity provider for the first transaction using Tradeweb’s FX Swap Workflow solution. Commenting on the transaction, Volkan Dikmen, Managing Director at Morgan Stanley, said: “We are supportive of new initiatives that help markets evolve and become more streamlined, so we are proud to provide liquidity for the first-ever trade bringing together EM bond and FX swap markets.”
Tradeweb offers global EM cross-product execution with comprehensive solutions across both bond and derivatives markets. Product scope includes EM IRS, CNY IRS via Swap Connect, hard and local currency bonds, portfolio trading for EM hard currency, EM credit derivatives, and CNY cash bonds via Bond Connect and CIBM Direct. More than 50 liquidity providers are currently supporting hard currency Asia, CEEMEA and LATAM bonds, many of which are also sending pre-trade streams and axes to facilitate smart dealer selection. Clients are able to trade EM bonds across 21 local currencies, with 11 more in the pipeline.
FXall is a leading electronic trading platform for global currency products. FXall is part of LSEG (London Stock Exchange Group), which is the majority stockholder of Tradeweb Markets.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than $1.2 trillion in notional value traded per day over the past four quarters. For more information, please go to www.tradeweb.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws. Statements related to, among other things, our outlook and future performance, the industry and markets in which we operate, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions and future events are forward-looking statements.
We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those discussed under the heading “Risk Factors” in documents of Tradeweb Markets Inc. on file with or furnished to the SEC, may cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this release are not guarantees of future performance and our actual results of operations, financial condition or liquidity, and the development of the industry and markets in which we operate, may differ materially from the forward-looking statements contained in this release. In addition, even if our results of operations, financial condition or liquidity, and events in the industry and markets in which we operate, are consistent with the forward-looking statements contained in this release, they may not be predictive of results or developments in future periods.
Any forward-looking statement that we make in this release speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this release.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230808420571/en/
Contact information
Media
Angeliki Kallipoliti, Tradeweb +44 (0)7824 327 073
Angeliki.Kallipoliti@Tradeweb.com
Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com
Investors
Ashley Serrao, Tradeweb, +1 646 430 6027
Ashley.Serrao@Tradeweb.com
Sameer Murukutla, Tradeweb, +1 646 767 4864
Sameer.Murukutla@Tradeweb.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Clearlake Expands Liquid Credit Platform With Acquisition of LCM Asset Management’s CLO Contracts11.6.2026 14:00:00 EEST | Press release
Clearlake Capital Group, L.P. (“Clearlake” or the “Firm”), a global investment firm managing integrated platforms spanning private equity, liquid and private credit, and other related strategies, today announced that its credit platform, Clearlake Credit, will assume management of CLOs managed by LCM Asset Management, LLC. The transaction adds 31 CLOs representing more than $5 billion of assets under management and increases assets managed by Clearlake Credit to approximately $39 billion across liquid credit, private credit, and other customized credit solutions. The acquisition further broadens the Firm’s capabilities, deepens its relationships with institutional investors, and reinforces its client-centric approach and commitment to seeking attractive risk-adjusted returns across market cycles. Milbank LLP and Dechert LLP represented Clearlake Credit in the transaction. GreensLedge Capital Markets advised the seller. About Clearlake Clearlake Capital is a leading global alternative a
Takeda’s Zasocitinib Significantly Outperforms Deucravacitinib in Head-to-Head Phase 3 Psoriasis Study, Promising to Redefine Oral Treatment Expectations11.6.2026 14:00:00 EEST | Press release
Takeda (TSE:4502/NYSE:TAK) announced positive topline results for the Phase 3, randomized, multicenter, double-blind study comparing zasocitinib (TAK-279), an investigational, next-generation, highly selective and potent oral tyrosine kinase 2 (TYK2) inhibitor, to deucravacitinib in adults with moderate-to-severe plaque psoriasis (PsO). In the LATITUDE Atlas (TAK-279-PsO-3004) head-to-head study, zasocitinib demonstrated statistical superiority over deucravacitinib for the primary endpoint, Psoriasis Area and Severity Index (PASI) 100 response rate at week 16. The study also demonstrated statistical superiority over deucravacitinib for all key secondary endpoints, including PASI 90 response and Static Physician's Global Assessment (sPGA) 0 at week 16. Zasocitinib was generally well tolerated with a consistent safety and tolerability profile and no new safety signals identified. Perspectives on head-to-head zasocitinib study “In this head-to-head study, zasocitinib clearly demonstrated
L&T Technology Services, Databricks Partner to Deliver Industrial AI at Scale for Asset-Intensive Industries11.6.2026 13:30:00 EEST | Press release
L&T Technology Services (BSE: 540115, NSE: LTTS), a global leader in AI, Digital & ER&D Consulting Services, today announced a strategic go-to-market partnership with Databricks, the leading Data and AI company, to co-develop and deliver Industrial AI solutions that advance Engineering Intelligence (EI) for asset-intensive enterprises. Anchored in LTTS' Sustainability segment, spanning Process Engineering, Discrete Manufacturing and Industrial Products, the partnership will support Energy, Petrochemicals and Industrials clients globally. As industrial organizations seek to unlock greater value from decades of operational and engineering data, the alliance will combine LTTS’ deep domain capabilities with the Databricks platform to transform complex plant data into Engineering Intelligence - enabling improved asset reliability, operational efficiency and sustainability performance. The partnership brings together LTTS’ expertise in forward looking technologies and extensive experience ac
Faire Marks Five Years of Growth Outside North America: Over 100,000 Retailers, 50,000 Brands, and More Than One in Four Brands Now Selling Across Borders11.6.2026 12:05:00 EEST | Press release
Five years after launching outside North America, Faire’s community of more than 100,000 retailers and 50,000 brands across 30+ countries in Europe, Australia, and New Zealand shows a retail sector that is innovating and thriving, well beyond the big cities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611115823/en/ Faire Celebrates 5 Years of Growth in Europe "It has been a phenomenal five years for Faire internationally, and the opportunity ahead has never been clearer,” said Olivier Buffon, VP and Head of International at Faire. “Europe represents a retail market comparable in scale to North America, and the challenges Faire was built to solve exist wherever independent retail exists. A global platform is more valuable for everyone, and we’re so proud to support businesses becoming more confident and more global in how they buy and sell.” A Retailer Network Spanning Tens of Thousands of Towns Independent retail is al
Stallergenes Greer Will Present New Evidence on Long-term Outcomes in Allergen Immunotherapy at EAACI 202611.6.2026 11:09:00 EEST | Press release
Stallergenes Greer, a global leader in allergy care, will present new clinical evidence and scientific advances in allergen immunotherapy (AIT) at the European Academy of Allergy and Clinical Immunology (EAACI) congress, taking place from June 12 to 15 in Istanbul, Turkey. The company will host a scientific symposium entitled “From Nobel Prize discovery to AIT clinical evidence: Shaping pathways to respiratory allergy remission.”Three leading international experts will explore how landmark breakthroughs in immunology have deepened our understanding of immune tolerance, presenting emerging data on remission and long-term outcomes in respiratory allergy. Together, these insights reinforce AIT’s disease-modifying potential and its growing role in personalised medicine. “EAACI 2026 is an exceptional forum for the global allergy community to exchange knowledge and advance the field. Stallergenes Greer is proud contribute to these conversations, bringing together world-leading experts in pur
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom