Tradeweb Announces Partnership with BlackRock to Further Electronify Corporate Bond Market

Rhea-AI Summary

Tradeweb Markets has partnered with BlackRock to integrate its credit trading solutions into BlackRock's Aladdin order execution management system. This multi-year collaboration aims to enhance access to liquidity across various bond markets, including corporate and emerging markets. The initial phase will feature Tradeweb's AiPrice for real-time pricing of nearly 25,000 corporate bonds. Tradeweb has reported notable growth, with average daily credit trading volumes exceeding $29.7 billion in 2022.

Positive

• Partnership with BlackRock enhances integration and access to credit trading solutions.
• Initial implementation includes AiPrice for real-time pricing of 25,000 corporate bonds.
• Significant growth in credit trading volumes, averaging >$29.7 billion daily in 2022.

Negative

• None.

Aladdin clients will have enhanced access to Tradeweb’s credit platform liquidity spanning institutional, wholesale and retail markets

NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has entered into a multi-year partnership with BlackRock to seamlessly integrate Tradeweb’s credit trading solutions and data into BlackRock’s Aladdin order execution management system (OEMS).

This partnership, which focuses on corporate, municipal, and emerging market bonds, will deliver a unique integrated trading experience between Tradeweb and BlackRock, and provide users with powerful collaboration across the trade lifecycle. In turn, Tradeweb will strengthen its credit platform and broaden its network through greater connectivity with the Aladdin platform.

The multi-year roadmap includes a number of features that enable clients with more efficient and seamless access to Tradeweb innovations. The first phase of the product roadmap will allow common clients to be able to view Tradeweb’s AiPrice which provides real-time prices for nearly 25,000 corporate bonds on the Aladdin platform.

Chris Bruner, Chief Product Officer at Tradeweb said: “The Aladdin platform provides extensive multi-asset OEMS capabilities, and this integration will provide its users with more efficient access to our suite of protocols. By tapping Tradeweb’s institutional, wholesale and retail liquidity, plus connecting related markets such as Treasuries and ETFs, Aladdin users will reap the benefits of this breadth of liquidity, more choice and an arsenal of innovative trading protocols and products.”

Tradeweb continues to report significant growth across the credit platform, with average daily volume in credit trading globally at Tradeweb averaging more than $29.7bn over the first three quarters of 2022. In the last five years, the firm’s share of fully electronic U.S. High Grade TRACE has increased nearly 6-fold, while the firm’s share of fully electronic U.S. High Yield TRACE has increased 5-fold¹.

Kamya Somasundaram, Managing Director, and a General Manager within the Aladdin Business at BlackRock said: “Credit markets have grown increasingly electronic in recent years, but significant opportunities still exist to accelerate this trend through expanding pools of liquidity and developing sophisticated analytics tools and execution workflows. We’re excited to partner with Tradeweb, which has made meaningful strides in this space.”

BlackRock's Aladdin platform unifies the investment management process by providing a common data language within an organization to enable scale, provide insights, and support business transformation. Aladdin combines sophisticated risk analytics with comprehensive portfolio management, trading, operations, and accounting tools on a single platform for institutional investors.

Tradeweb continues to build a total market solution for the global credit marketplace, with expanding offerings in Europe, the U.S. and emerging markets. More than 1,100 clients leverage Tradeweb to trade corporate bonds across investment grade, high-yield and emerging market bonds, as well as credit derivatives including indices and single name credit default swaps. Tradeweb continues to innovate to deliver impactful tools and protocols to clients, like Automated Intelligent Execution (AiEX) tool, electronic portfolio trading, and Multi-Client Net Spotting, which delivers cost savings by netting hedging activity across clients.

1. Fully electronic U.S. High Grade TRACE share was 13.9% in Q3 2022 (vs. 2.4% in Q3 2017); Fully electronic U.S. High Yield TRACE share was 5.4% in Q3 2022 (vs. 1.0% in Q3 2017).

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 $1.0 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005794/en/

Media:

Daniel Noonan, Tradeweb

+1 646 767 4677

daniel.noonan@tradeweb.com

Investor:

Ashley Serrao, Tradeweb

+1 646 430 6027

ashley.serrao@tradeweb.com

Sameer Murukutla, Tradeweb

+1 646 767 4864

sameer.murukutla@tradeweb.com

Source: Tradeweb Markets Inc.

FAQ

What is the partnership between Tradeweb and BlackRock about?

Tradeweb and BlackRock have partnered to integrate Tradeweb's credit trading solutions into BlackRock's Aladdin platform.

When was the partnership between Tradeweb and BlackRock announced?

The partnership was announced in a press release dated December 5, 2022.

What trading solutions will be available through Tradeweb's integration with Aladdin?

The integration will feature credit trading solutions including access to 25,000 corporate bonds through Tradeweb's AiPrice.

How has Tradeweb's credit trading volume changed recently?

Tradeweb has reported average daily credit trading volumes over $29.7 billion in 2022, indicating significant growth.

What types of bonds will the partnership focus on?

The partnership will focus on corporate, municipal, and emerging market bonds.