• “We have to continue to invest a lot in terms of getting smarter and more sophisticated around the search for liquidity.” @WilliamHult spoke with @kmcpartland at last week's Piper Sandler Global Exchange and FinTech Conference. More here: Link
    Tradeweb Mon 08 Jun 2020 18:23
    Equity market structure Profiles of buy-side investment firms The evolution of multi-asset-class trading Regulation and its implications for markets The search for liquidity in fixed income markets The convergence of fintech and capital markets
  • Government bond market volatility subsided in May compared to the previous two months. In the euro area, most 10-year benchmark bond yields rose slightly during the month, except for those on peripheral debt, which logged double-digit declines. Read more: Link https://t.co/R1ToY6W9Dj
    Tradeweb Mon 08 Jun 2020 17:18

    Government bond market volatility subsided in May compared to the previous two months, despite a barrage of weak economic data published around the world. In the euro area, the majority of 10-year government bond mid-yields rose slightly during the month, with those for Germany registering the biggest increase of 13.5 basis points to close May at -0.45%. The country’s Federal Statistical Office (Destatis) estimated that the annual inflation rate would fall to 0.6% in May, its lowest level since September 2016.

    In contrast, peripheral nations logged double-digit yield declines, with those for Greece and Portugal’s 10-year debt dropping by 64.5 and 31 basis points to finish May at 1.49% and 0.47%, respectively. Their Italian and Spanish counterparts also fell during the month by 27.50 basis points to 1.49% and 22 basis points to 0.49%, respectively. Paolo Gentiloni, European Commissioner for the Economy, identified peripheral...

  • This past September, we took the first steps to address uncertainty with one simple data point: a closing price for U.S. Treasuries. Learn more here: Link https://t.co/GlLkiFhQu9
    Tradeweb Fri 05 Jun 2020 18:05

    This past September, Tradeweb Markets took the first steps to address uncertainty with one simple data point: a closing price for U.S. Treasuries. It may sound hard to believe, but, until then, the $16 trillion U.S. Treasuries market, the world’s largest and most liquid bond market, did not have a centralized mechanism for establishing end-of-day prices.

    The last several months of record volatility in U.S. Treasuries highlights the need for a benchmark closing price that demonstrates both reliability and accuracy under these extremely challenging circumstances.

    What Took So Long?

    Unlike equities, where closing auctions at listing exchange determine end of day prices for individual securities, U.S. Treasuries trading is decentralized. This means the individual financial institutions that hold a particular security need to determine their own end-of-day price based on the most recent trades or evaluated pricing...

  • Chart of the Week ?: U.S. investment grade credit spreads (CDX IG) are underperforming their European counterparts (iTraxx Europe) as each rally from March wides. Still, both spreads remain over 20bp away from their recent tights. https://t.co/Mi4kBdyahv
    Tradeweb Fri 05 Jun 2020 14:45
  • This morning we reported average daily volume of $791.7 billion in May. Among other activity, we set records in U.S. credit trading, with ADV in excess of $5.3bn, and portfolio trading so far this year has surpassed 2019 totals. Read more: Link https://t.co/K9UMFIDHvT
    Tradeweb Wed 03 Jun 2020 12:33

    NEW YORK – June 3, 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 $791.7 billion (bn) in May, an increase of 7.2 percent (%) year over year (YoY).

    Lee Olesky, Tradeweb CEO, said: “The combination of robust volumes and easing volatility in May suggests a deeper behavioral change is taking place. As many market participants continue to work remotely, we are focused not only on electronic trading, but on digitizing every aspect of trade processing so our clients can be better informed and more efficient.”

    Tradeweb set another monthly record in U.S. credit trading, with ADV in excess of $5.3bn. On May 29th, a single-day record of $4.8bn in investment-grade credit volume traded fully electronically on the Tradeweb platform, representing 11.8% of TRACE volume. Adoption of portfolio trading...

  • This morning we reported average daily volume of $ 791.7 billion in May. Among other activity, we set records in U.S. credit trading, with ADV in excess of $5.3bn, and portfolio trading so far this year has surpassed 2019 totals. Read more: Link https://t.co/3hRB1owMrS
    Tradeweb Wed 03 Jun 2020 12:03

    NEW YORK – June 3, 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 $791.7 billion (bn) in May, an increase of 7.2 percent (%) year over year (YoY).

    Lee Olesky, Tradeweb CEO, said: “The combination of robust volumes and easing volatility in May suggests a deeper behavioral change is taking place. As many market participants continue to work remotely, we are focused not only on electronic trading, but on digitizing every aspect of trade processing so our clients can be better informed and more efficient.”

    Tradeweb set another monthly record in U.S. credit trading, with ADV in excess of $5.3bn. On May 29th, a single-day record of $4.8bn in investment-grade credit volume traded fully electronically on the Tradeweb platform, representing 11.8% of TRACE volume. Adoption of portfolio trading...

  • Join our head of China, Eugene Cheung, on a virtual panel at the @ASIFMAnews China Financial Markets Post-COVID-19 event on 2 June. He'll be discussing how the China #bond market changed during the market volatility in recent months. Register here: Tradeweb Mon 01 Jun 2020 07:46
  • Chart of the Week ?: Following the new issuance of both 20Y and 30Y bonds and more issuance to come, the back-end of the Treasury curve continues to steepen, rising to levels last seen in 2016. Meanwhile, the rest of the curve remains relatively flat. https://t.co/7KSrfapSFw
    Tradeweb Fri 29 May 2020 16:54
  • Machine learning with Ai-Price is making it possible to calculate reference pricing in seconds based on dynamic bond market data. Learn more here: Link https://t.co/x6OxlB9u9E
    Tradeweb Wed 27 May 2020 13:56

    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.

    Today, a single trader can do all of that in seconds thanks to advances in machine learning technology which have made it possible to calculate reference pricing in seconds based on dynamic bond market data.

    And that is a huge step forward for liquidity in the $9.2 trillion U.S. corporate bond market.

    The Corporate Bond Liquidity...

  • Chart of the Week ?: There was good demand yesterday for the new 20Y US Treasury and the WI rallied (declining yields) following the 1pm ET auction, to close at 1.18%. When the last 20Y (issued with a 9.375% coupon) matured in 2006, it had a yield of 4.84%. https://t.co/n0NwhHZC2Z
    Tradeweb Thu 21 May 2020 19:16
  • In @GreenwichAssoc's latest research report, they illustrate the role e-trading is playing in the convertible bond market. Link
    Tradeweb Wed 20 May 2020 18:50

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  • Credit traders face a significant challenge arriving at the right price due to illiquidity and diversity. Through machine learning with Ai-Price there is a path forward. Learn more in our recent white paper: Link https://t.co/L2SZrxUKxF
    Tradeweb Tue 19 May 2020 15:29
    "Trying to price a large portfolio of corporate bonds such as corporate bond ETFs that provide intraday and instantaneous liquidity in real-time in a volatile market is singularly difficult without significant resources to assist." - Chris Bruner, Head of U.S. Credit
  • Congrats to our team for being named ‘Best New Product’ for Portfolio Trading at the @marketsmedia 2020 Markets Choice Awards. To learn more about our innovative offering, click here: Link Link
    Tradeweb Fri 15 May 2020 17:55
    Achieve fast and efficient execution on a large notional trade comprising multiple bonds View aggregate level information on the whole package with Ai-Price, our advanced pricing tool, or the Tradeweb Composite price* Evaluate spread/prices for hundreds of line items Reduce the risk of human error inherent in an Excel-based workflow Minimise information leakage by sending orders directly to a designated portfolio trader Gain additional insights by running Tradeweb’s pre- and post-trade Transaction Cost Analysis (TCA) on your portfolio ###

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • In April, we saw a larger than usual portion of our global #ETF volumes coming from fixed income ETFs. Read our latest update to find out which ETF categories and products topped last month's most heavily-traded lists on Tradeweb. Link https://t.co/ds5KBCjUA7
    Tradeweb Thu 14 May 2020 10:09

    The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.

    EUROPEAN-LISTED ETFsTotal traded volumeIn April, total traded volume on the Tradeweb European-listed ETF marketplace reached EUR 33.6 billion. The proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool increased to 67.3%.

    Volume breakdown‘Buys’ in equity-based ETFs mirrored ‘sells’ during the month. Activity in the asset class represented 49% of the total notional volume, lagging the previous 12-month rolling average by 11 percentage points.

    Adriano Pace, head of equities (Europe) at Tradeweb, said: “Trading activity in fixed income ETFs accounted for 46% of the entire platform flow, a record high. Overall, we saw really strong buying of fixed income ETFs, particularly those offering exposure to corporate bonds.”Top ten by traded notional volumeThere...

  • Lee Olesky, @Tradeweb CEO, spoke to @BusinessInsider about #WhatsNext. “I want our approach to be really flexible and creative, and focused on what works best for our people and our clients.” Link
    Tradeweb Wed 13 May 2020 14:33
    The coronavirus pandemic has caused financial services companies, like many other industries, to adjust in record time to new working conditions.From having to adjust to working from home to grappling with the economic consequences of the pandemic, the initial adrenaline rush has worn off and the main decision-makers are shaping what the new normal will look like. Business Insider asked 34 executives across investing, trading, and consumer finance how their business, their industry, and their world would change as a result of the coronavirus. This feature is part of a series based on conversations with more than 200 CEOs on how business will be transformed by the coronavirus. To read more, click here. 
  • Chart of the week ?: USD Overnight Index Swaps (OIS) closed with negative yields for the first time ever yesterday. Markets are pricing in a negative Fed Funds Effective Rate for all of 2021. https://t.co/9gXbDkhxyM
    Tradeweb Fri 08 May 2020 18:18
  • Thanks to @AlexisTVNews and @BrianSozzi for a great conversation this morning ? We hope everyone has a healthy and safe Friday. Link
    Tradeweb Fri 08 May 2020 14:33

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • This morning we reported 1Q20 results, including record average daily volume of $897.8 billion, and record revenues of $234.6 million ? 25.6% year over year. For more information, visit: Link $TW https://t.co/GPCqvtUAQZ
    Tradeweb Thu 07 May 2020 11:32

    Following two decades of private ownership, Tradeweb became a publicly traded company on April 4th, 2019 with one of the most successful IPOs of the year. Since then we’ve continued to invest in our people, our network and our technology to improve the way financial markets trade. Learn more in our 2019 Annual Report.

    View Report Go
  • While market volatility was more subdued in April, 10Y government bond yields mostly declined, as central banks intervened with stimulus efforts to support economic recovery and stability. Read our Government Bond Update for more: Link https://t.co/954xEAmCEq
    Tradeweb Wed 06 May 2020 15:56

    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.

    The yield on the U.S. 10-year Treasury fell 7 basis points to finish the month at 0.62%. On April 29, the U.S. Federal Reserve kept the federal funds rate in a target range of 0 to 0.25%, and committed to using the “full range of tools” to help the economy. Unemployment in the country soared, with jobless claims during the pandemic crisis topping 30 million at the end of April.

    The European Central Bank also left interest rates and the size of its EUR 750 billion Pandemic Emergency Purchase Programme unchanged, but eased conditions for banks to spur lending, and said it would increase stimulus as warranted. Growth scenarios produced by the ECB suggested that euro area GDP could fall by between 5% and 12% this...

  • This morning we reported average daily volume of $763.4 billion in April. Among other strong performances, we set a new record in U.S. credit trading, as well as new single-day records for portfolio trading. Read more: Link https://t.co/OC0Fcn15G7
    Tradeweb Tue 05 May 2020 12:20

    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).

    Lee Olesky, Tradeweb CEO, said: “April was a strong month for Tradeweb across all asset classes. Following historic volatility and volumes in March, activity was more normalized but was still higher than any prior April on record. Our clients are adjusting their workflows for the longer term, and we are seeing accelerated adoption of electronic protocols and processing.”

    On the final day of April, Tradeweb set one-day records in U.S. Treasury, European government bond and U.S. credit trading, with more than $2.4bn in credit portfolio trading.

    RATES

  • Our latest blog on LIBOR transition examines why we believe regulatory focus is unlikely to wane and it is advisable to switch to risk free reference rates sooner rather than later. Read it today Link https://t.co/8wIcrap9r5
    Tradeweb Mon 04 May 2020 13:14

    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.

    Businesses across the marketplace have been working extremely hard over the last few months to deal as best they can with the effects of COVID-19. Clearly, a paramount...

  • Check-out our 2019 Annual Report to see how we’ve continued to invest in our people, our network and our technology to improve the way financial markets trade since going public last year: Link https://t.co/MDEADu6IHS
    Tradeweb Wed 15 Apr 2020 16:15

    Tradeweb is built on a foundation of strong relationships, product innovation and the power of our global network. Providing a flexible and reliable platform for our clients, especially during periods of disruption and market volatility, is core to everything we do.

  • #WEBINAR: Why is electronic #portfoliotrading gaining such popularity in the global #credit market? And how is this protocol changing the way credit traders strategise? Join us for a 30-minute webinar where we'll discuss these questions and more: Link https://t.co/HuOEN5xuCB
    Tradeweb Tue 14 Apr 2020 15:59
  • Electronic portfolio trading is addressing risk transfer and illiquidity in the corporate bond market. Click here to learn the differences between portfolio trading and list trading: Link https://t.co/o3m0cgec7Q
    Tradeweb Mon 13 Apr 2020 16:08
  • Teaching from home! Lee Olesky led an MBA class on Fixed Income Markets and Market Structure at @Wharton this week. Thanks to the more than 150 students who tuned in, and asked such great questions! https://t.co/Ns992uMKOJ
    Tradeweb Fri 10 Apr 2020 20:55
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