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Tradeweb Introduces Enhanced Functionality for Portfolio Trading
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
Tradeweb Markets Inc. (NASDAQ: TW) has launched new functionalities for its electronic portfolio trading tool, enhancing flexibility and efficiency for institutional clients. Key improvements include the ability to trade on spread at market close, allowing for better execution strategies, particularly for passive investments. Additionally, the line item capacity has increased to over 2,000, facilitating larger risk transfers in single trades. Tradeweb reports a robust average daily volume of $33.2 billion in credit trading globally, showcasing a 50% YoY client usage increase.
Positive
Enhanced electronic portfolio trading tool increases flexibility and efficiency for institutional clients.
Ability to trade on spread at market close supports passive investment strategies.
Increased line item capacity to over 2,000 line items enhances competitive trading and risk transfer.
Average daily volume in credit trading reached $33.2 billion, indicating strong growth.
Record growth in portfolio trading with 725% increase in ADV since 2019.
Negative
None.
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 rolled out new functionalities for its electronic portfolio trading tool, increasing flexibility and efficiency for institutional clients.
Trade on spread at market close: This is an important step forward in credit trading; it is particularly useful to clients deploying passive investment strategies that benefit from executing trades at the market close, and also offers clients more flexibility to arrange these trades in advance of the close. Tradeweb estimates that roughly 30% of all portfolio trades are executed using closing prices, presenting an opportunity to further electronify more of these large and critical trades at the close. This enhancement follows Tradeweb’s Trade at Close functionality announced in October 2021, and allows clients to benefit from the vast scale of the Tradeweb network by building on previous innovations including: Tradeweb Ai-Price, which provides real-time prices for nearly 25,000 corporate bonds, and Tradeweb’s Multi-Client Net Spotting (MCNS), which nets hedging activity across Tradeweb clients spotting at the same time.
Increased line item capacity: Tradeweb has increased the capacity of its portfolio trading tool to more than 2,000 line items. This increase strengthens Tradeweb’s ability to put multiple dealers in competition and to transfer large amounts of risk in a single portfolio trade. Portfolio trading has experienced record growth at Tradeweb, with average daily volume (ADV) of $1.4 billion (bn) in the first quarter of 2022 and an increase of over 50% YoY in the number of clients using our tool. Since launching portfolio trading in 2019, Tradeweb has seen global portfolio trading ADV on the Tradeweb credit platform grow more than 725%.
Chris Bruner, Head of U.S. Institutional Fixed Income at Tradeweb, said: “We collaborate closely with our clients to seek out new ways to enhance the portfolio trading process, building off of previous Tradeweb innovations like Tradeweb Ai-Price and MCNS that our clients have already integrated into their trading workflow. Targeted enhancements like these are driven in part by the evolving needs of our market and our clients’ willingness to embrace these innovations.”
As the first platform to offer electronic portfolio trading for corporate bonds, Tradeweb continues to build technologies that improve efficiency, transparency and accuracy in the corporate bond market. These enhancements come as Tradeweb continues to experience significant growth across the credit platform, with average daily volume in credit trading globally at Tradeweb averaging $33.2bn in first quarter 2022. In the last four years, the firm’s share of U.S. High Grade TRACE has more than doubled to 22.5% in first quarter 2022, while U.S. High Yield TRACE has more than tripled to 10.9%.
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 trillion in notional value traded per day over the past four fiscal 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. In particular, preliminary average variable fees per million dollars of volume traded are subject to the completion of management’s final review and our other financial closing procedures and therefore are subject to change. 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.
What new functionalities were introduced by Tradeweb Markets Inc. on its portfolio trading tool?
Tradeweb has enhanced its portfolio trading tool by allowing trades to be executed on spread at market close and increased the line item capacity to over 2,000.
What is the average daily volume in credit trading reported by Tradeweb in Q1 2022?
Tradeweb reported an average daily volume of $33.2 billion in credit trading globally in the first quarter of 2022.
How much has portfolio trading grown at Tradeweb since its launch in 2019?
Since launching portfolio trading in 2019, Tradeweb has seen a growth of more than 725% in average daily volume.
What percentage of Tradeweb's clients are using the portfolio trading tool?
Tradeweb has experienced over 50% year-over-year growth in the number of clients using its portfolio trading tool.
What market strategies benefit from the new trading functionalities at Tradeweb?
Clients deploying passive investment strategies can benefit significantly from the ability to trade at market close.
