Tradeweb Launches Portfolio Trading for European Credit Bonds
Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the launch of portfolio trading for European Credit bonds, just ten months after successfully introducing the functionality for U.S. Credit bonds. So far, Tradeweb has seen portfolio trading activity exceed $29 billion*, with single trades as large as $1 billion in notional value. Currently, Tradeweb facilitates portfolio trading for European, U.S. Investment Grade, U.S. High Yield, and Emerging Markets bonds.
“Our portfolio trading functionality showcases Tradeweb’s unique ability to connect innovative technology with deep pools of liquidity to create greater efficiency for our clients,” said Enrico Bruni, Head of Europe and Asia Business at Tradeweb. “As the first electronic marketplace to offer portfolio trading for U.S. Credit bonds, we are excited to have expanded this solution to our European Credit platform.”
“The expansion of our portfolio trading solution is a significant step forward for the execution of credit bonds in Europe,” said Charlie Collins, Head of European Credit at Tradeweb. “We have fully streamlined a process that was previously too laborious and error-prone, with the added benefits of efficient price discovery and access to cost-saving analytics.”
Portfolio trading at Tradeweb enables institutional investors to package hundreds of European Credit bonds in one basket, negotiate a portfolio level price with multiple liquidity providers, and execute in a single transaction. Clients can include both buy and sell orders for individual bonds within the same portfolio trade, which allows for more efficient and timely execution. They are also able to minimise information leakage by sending orders directly to a designated portfolio trader, and reduce the risk of human error inherent in manual types of trading, thanks to end-to-end electronic workflows.
“Tradeweb’s portfolio trading solution provides the investment management community with an effective way to access liquidity for bonds that may be difficult to trade unless they are part of a package,” said Laurent Albert, Global Head of Execution at NAMFI. “We are also better able to prove best execution by placing multiple dealers in competition when submitting an enquiry, and by using Tradeweb’s portfolio trading analytics to gain additional insights into our execution strategy.”
Although portfolio trading has been available in equities markets for many years, buy-side firms have now become more active in adopting the strategy of simultaneously transferring large amounts of credit risk. One of the key drivers for its increasing adoption by institutional traders is the growth of fixed income ETF assets, which has prompted higher numbers of dealers pricing thousands of bonds in real-time to facilitate the ETF creation and redemption process.
“We are excited to be working with Tradeweb to harness its portfolio trading functionality. As a result, Morgan Stanley’s Credit Algo offering is further enhancing the buy-side user experience. We’re providing our clients with efficient and transparent pricing with a greater certainty of execution,” said Phil Allison, Head of Fixed Income Automated Trading at Morgan Stanley.
The benefits of portfolio trading for buy-side investors include more cost-effective portfolio rebalancing, the ability to easily replicate a benchmark or strategy, increased liquidity for a broader set of bond instruments, improved pricing, streamlined execution workflows, risk and information leakage mitigation, and enhanced best execution. According to a BlackRock report**, it is estimated there was $50 billion of portfolio trading volumes across Investment Grade and High Yield corporates in the first half of 2019.
* Data as of end of October 2019
**Source: “The modernization of the bond market”, BlackRock
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 $700 billion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.
This release contains forward-looking statements within the meaning of the federal securities laws. Statements related to, among other things, the expected timing and availability of Tradeweb’s portfolio trading functionality, our 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. 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.
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 any of the forward-looking statements after the date of this release.
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
Kite Announces Long-term Data From ZUMA-1 Showing Approximately Half of Refractory Large B-cell Lymphoma Patients Were Alive Three Years After Yescarta Treatment7.12.2019 22:00:00 EET | Press release
Kite, a Gilead Company (Nasdaq: GILD), today announced new data from the ZUMA-1 trial of Yescarta® (axicabtagene ciloleucel) in adult patients with refractory large B-cell lymphoma. These results included updated overall survival data from the pivotal phase 2 study after three years following a single infusion of Yescarta, as well as an analysis from a separate safety management cohort of patients receiving early steroid intervention for cytokine release syndrome (CRS) and neurologic events. The data were presented today at the 61st American Society of Hematology (ASH) Annual Meeting & Exposition, in Orlando from December 7–10, 2019. With a minimum follow-up of three years after a single infusion of Yescarta (median follow-up of 39.1 months), approximately half (n=47/101; 47 percent) of patients with refractory large B-cell lymphoma in ZUMA-1 pivotal phase 2 cohorts were alive, and the median overall survival (OS) was 25.8 months. These updated three-year survival data were presented a
Janssen Presents Initial Results for BCMA CAR-T Therapy JNJ-4528 Showing Early, Deep and High Responses in the Treatment of Relapsed or Refractory Multiple Myeloma7.12.2019 18:20:00 EET | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today initial results from the Phase 1b/2 CARTITUDE-1 study (NCT03548207) evaluating the efficacy and safety of JNJ-68284528 (JNJ-4528), an investigational B cell maturation antigen (BCMA)-directed chimeric antigen receptor T cell (CAR-T) therapy being evaluated in the treatment of patients with relapsed or refractory multiple myeloma. The study enrolled patients who had received at least three prior lines of therapy or were double refractory to a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD); had received a PI, IMiD and an anti-CD38 antibody. The CARTITUDE-1 study results, premiered at the American Society of Hematology (ASH) Annual Meeting, were featured as an oral presentation and highlighted in the official ASH press programme (Abstract #577).1 Results from the Phase 1b portion of the CARTITUDE-1 study showed early and deep responses among patients (n=29) with a median of five prior multiple myeloma
Imbruvica®▼(ibrutinib) Combination Therapy Data From Two Studies and Long-Term Integrated Analysis Presented at ASH 2019 Show Efficacy and Safety in First-Line Treatment of Chronic Lymphocytic Leukaemia7.12.2019 18:18:00 EET | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson today announced combination data from two studies and a long-term integrated analysis evaluating the use of Imbruvica® (ibrutinib) for the treatment of previously untreated patients with CLL. Results from a 48-month follow-up analysis of the Phase 3 E1912 clinical study reported a statistically significant difference in PFS and OS for ibrutinib plus rituximab compared to a standard chemoimmunotherapy regimen of FCR.1 Further, the latest integrated analysis from the Phase 3 RESONATETM (PCYC-1112) and RESONATETM-2 (PCYC-1115/1116) studies investigating the use of single-agent ibrutinib in CLL, reported at up to six years of follow-up, PFS, OS and response rates improved when ibrutinib was used in earlier lines of therapy.2 During this extended follow-up, ibrutinib was tolerated across all lines of therapy with 19 percent of patients discontinuing due to adverse events.2 In addition, results presented from the Phase 2 CAPTIVATE stu
Takeda to Present Results from the Phase 3 TOURMALINE-AL1 Trial of NINLARO in Patients with Amyloidosis7.12.2019 17:30:00 EET | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) today announced that results of the TOURMALINE-AL1 trial will be presented during an oral session at the 61st American Society of Hematology (ASH) annual meeting on Saturday, December 7, 2019 in Orlando, Florida. TOURMALINE-AL1 is a Phase 3, randomized clinical trial evaluating the effect of NINLAROTM (ixazomib) in combination with dexamethasone in patients with relapsed or refractory systemic light-chain (AL) amyloidosis. The TOURMALINE-AL1 trial did not meet the first of the two primary endpoints of significant improvement in overall hematologic response, as reported in June 2019. Hematologic responses were seen in 53% versus 51% of patients receiving NINLARO plus dexamethasone versus physician’s choice (odds ratio 1.10 [95% CI 0.60-2.01], p=0.762) as assessed by an Adjudication Committee (AC). The second primary endpoint of two-year vital organ deterioration or death was not mature at the time of analysis. Other endpoints stu
Schlumberger Announces Fourth-Quarter and Full-Year 2019 Results Conference Call6.12.2019 21:07:00 EET | Press release
Schlumberger Limited (NYSE:SLB) will hold a conference call on January 17, 2020 to discuss the results for the fourth quarter and full year ending December 31, 2019. The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 4013483. A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until February 17, 2020, and can be accessed by dialing +1 (866) 207-1041 within North Amer
BUFF STUDIO Globally Launches My Coloring, a Mobile 3D Pixel Art Coloring Book Game6.12.2019 16:00:00 EET | Press release
BUFF STUDIO announced on December 5 that it launched My Coloring, a mobile 3D pixel art coloring book game, in 155 countries simultaneously. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005162/en/ BUFF STUDIO launched My Coloring, a mobile 3D pixel art coloring book game, in 155 countries simultaneously. My Coloring is a game that materializes a 3D pixel art coloring book on mobile devices. You can blow your stress away as you paint spaces in the order of numbers on the screen while reading calming messages. Relaxing background music you will listen during gameplay and its fairytale-like design will give you pleasure and happiness. You can download it for free on Google Play and the Apple App Store. (Graphic: Business Wire) Its Android and iOS versions were released at the same time so the users can download it for free on Google Play and the Apple App Store. My Coloring is a game that materializes a 3D pixel art col
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