Tradeweb Launches Portfolio Trading for European Government Bonds
Tradeweb Markets (Nasdaq: TW) has launched electronic portfolio trading for European government bonds, including UK Gilts and EUR notes, becoming the first institutional marketplace to offer this functionality for both credit and government bonds.
The platform enables traders to package multiple bonds into a single basket, negotiate portfolio-level pricing, and execute entire baskets with one counterparty. The first transaction was completed between L&G and Citi. In 2023, Tradeweb processed USD 698 billion in global portfolio trading volume across 9,134 transactions.
The company's European Government Bond marketplace achieved a record USD 212.6 billion in average daily volume in 2024, marking a 45.6% year-over-year increase. The platform provides access to 47 market makers and enables trading of bonds from over 20 European countries in seven currencies.
Tradeweb Markets (Nasdaq: TW) ha lanciato il trading elettronico di portafogli per i titoli di stato europei, inclusi i Gilts britannici e le note in EUR, diventando il primo mercato istituzionale a offrire questa funzionalità sia per i titoli di credito che per i titoli di stato.
La piattaforma consente ai trader di raggruppare più obbligazioni in un unico pacchetto, negoziare prezzi a livello di portafoglio ed eseguire interi pacchetti con un solo controparte. La prima transazione è stata completata tra L&G e Citi. Nel 2023, Tradeweb ha elaborato 698 miliardi di dollari in volume di trading globale di portafoglio attraverso 9.134 transazioni.
Il mercato dei titoli di stato europei dell'azienda ha raggiunto un record di 212,6 miliardi di dollari in volume medio giornaliero nel 2024, segnando un aumento del 45,6% rispetto all'anno precedente. La piattaforma offre accesso a 47 market maker e consente il trading di obbligazioni provenienti da oltre 20 paesi europei in sette valute.
Tradeweb Markets (Nasdaq: TW) ha lanzado el comercio electrónico de carteras para bonos gubernamentales europeos, incluidos los Gilts del Reino Unido y las notas en EUR, convirtiéndose en el primer mercado institucional en ofrecer esta funcionalidad tanto para bonos de crédito como para bonos gubernamentales.
La plataforma permite a los operadores agrupar múltiples bonos en una sola cesta, negociar precios a nivel de cartera y ejecutar cestas completas con una sola contraparte. La primera transacción se completó entre L&G y Citi. En 2023, Tradeweb procesó 698 mil millones de dólares en volumen de comercio global de carteras a través de 9,134 transacciones.
El mercado de bonos gubernamentales europeos de la empresa alcanzó un récord de 212.6 mil millones de dólares en volumen promedio diario en 2024, marcando un aumento del 45.6% interanual. La plataforma proporciona acceso a 47 creadores de mercado y permite el comercio de bonos de más de 20 países europeos en siete monedas.
Tradeweb Markets (Nasdaq: TW)는 영국 국채 및 유로화 채권을 포함한 유럽 정부 채권에 대한 전자 포트폴리오 거래를 시작하여 신용 및 정부 채권 모두에 대해 이 기능을 제공하는 최초의 기관 시장이 되었습니다.
이 플랫폼은 거래자가 여러 채권을 하나의 바구니로 묶고, 포트폴리오 수준의 가격을 협상하며, 하나의 거래상대방과 전체 바구니를 실행할 수 있도록 합니다. 첫 거래는 L&G와 Citi 간에 완료되었습니다. 2023년 Tradeweb은 9,134건의 거래를 통해 전 세계 포트폴리오 거래량 6,980억 달러를 처리했습니다.
회사의 유럽 정부 채권 시장은 2024년 평균 일일 거래량 2,126억 달러를 기록하며 전년 대비 45.6% 증가했습니다. 이 플랫폼은 47개의 시장 조성자에 대한 접근을 제공하며, 20개 이상의 유럽 국가에서 7개 통화로 채권 거래를 가능하게 합니다.
Tradeweb Markets (Nasdaq: TW) a lancé le trading électronique de portefeuilles pour les obligations d'État européennes, y compris les Gilts britanniques et les notes en EUR, devenant ainsi le premier marché institutionnel à offrir cette fonctionnalité pour les obligations de crédit et d'État.
La plateforme permet aux traders de regrouper plusieurs obligations en un seul panier, de négocier des prix au niveau du portefeuille et d'exécuter des paniers entiers avec un seul contrepartie. La première transaction a été réalisée entre L&G et Citi. En 2023, Tradeweb a traité 698 milliards de dollars de volume de trading global de portefeuilles à travers 9 134 transactions.
Le marché des obligations d'État européennes de l'entreprise a atteint un record de 212,6 milliards de dollars en volume moyen quotidien en 2024, marquant une augmentation de 45,6 % par rapport à l'année précédente. La plateforme offre un accès à 47 teneurs de marché et permet le trading d'obligations provenant de plus de 20 pays européens dans sept devises.
Tradeweb Markets (Nasdaq: TW) hat den elektronischen Portfoliohandel für europäische Staatsanleihen, einschließlich britischer Gilts und EUR-Anleihen, gestartet und ist damit der erste institutionelle Marktplatz, der diese Funktionalität sowohl für Kredit- als auch für Staatsanleihen anbietet.
Die Plattform ermöglicht es Händlern, mehrere Anleihen in einem einzigen Korb zu bündeln, Preise auf Portfolioebene zu verhandeln und gesamte Körbe mit einem einzigen Geschäftspartner auszuführen. Die erste Transaktion wurde zwischen L&G und Citi abgeschlossen. Im Jahr 2023 verarbeitete Tradeweb ein Handelsvolumen von 698 Milliarden USD im globalen Portfoliohandel über 9.134 Transaktionen.
Der europäische Staatsanleihenmarktplatz des Unternehmens erzielte im Jahr 2024 einen Rekord von 212,6 Milliarden USD im durchschnittlichen Tagesvolumen, was einem Anstieg von 45,6 % im Vergleich zum Vorjahr entspricht. Die Plattform bietet Zugang zu 47 Market Makern und ermöglicht den Handel mit Anleihen aus über 20 europäischen Ländern in sieben Währungen.
- Record trading volume growth: 45.6% YoY increase in European Government Bond marketplace
- Significant portfolio trading volume: USD 698 billion processed in 2023
- First-mover advantage in electronic portfolio trading for both credit and government bonds
- Extensive market coverage with 47 market makers across 20+ European countries
- None.
Insights
Tradeweb's expansion of portfolio trading to European government bonds is a significant progression in the electronification of fixed income markets. This innovation allows institutional investors to trade entire baskets of government bonds in one transaction, addressing critical pain points around liquidity aggregation, execution efficiency, and risk transfer.
The market response appears promising, evidenced by early adoption from major players like L&G and Citi. Tradeweb reported
Portfolio trading delivers several competitive advantages to institutional traders: reduced information leakage, minimized market impact, and holistic risk management at the portfolio level. For government bond markets specifically, this approach helps traders navigate varying liquidity profiles across different sovereign issues, facilitating more efficient benchmark replication and custom portfolio execution.
By extending this capability from credit to rates markets, Tradeweb creates cross-asset efficiencies for multi-strategy investors while enhancing its competitive position as the only platform offering portfolio trading across both corporate and government bonds. This represents a logical evolution that leverages Tradeweb's established technology infrastructure while addressing genuine market needs.
Tradeweb's introduction of portfolio trading for European government bonds marks an important technological advancement in fixed income market structure. By enabling simultaneous execution of multiple bonds as a single package, this innovation creates significant workflow efficiencies while reducing operational risks associated with sequential trading.
The development builds on Tradeweb's successful 2019 launch of portfolio trading for corporate bonds, extending proven technology to a new asset class with
From a technical perspective, the solution enables precise risk transfer by allowing dealers to price at the portfolio level rather than on individual bonds. This holistic approach improves pricing efficiency, particularly for less liquid instruments that might otherwise face wider spreads when traded individually. Electronic execution also creates an auditable trail supporting best execution requirements, helping institutional investors meet regulatory obligations.
Tradeweb's multi-protocol approach - offering portfolio trading alongside established RFQ, RFM, and CTT protocols - provides traders with complementary execution options tailored to different trading scenarios. With access to 47 liquidity providers and bonds from over 20 European countries across 7 currencies, this expansion significantly enhances the platform's utility for institutional market participants while strengthening Tradeweb's position in the increasingly electronic European government bond ecosystem.
First institutional marketplace to offer electronic portfolio trading for both credit and government bonds
James Dale, Co-Head of International Developed Markets at Tradeweb, said: “The expansion of our portfolio trading functionality to the European Government Bond market is a significant milestone in increasing flexibility and efficiency for our institutional clients, and reflects Tradeweb’s track record of relentless innovation. As a truly global multi-asset platform, we are uniquely positioned to develop solutions across asset classes, and remain steadfast in our commitment to responding to the evolving needs of the market.”
Nicola Danese, Co-Head of International Developed Markets at Tradeweb, said: “As institutional clients continue to embrace the benefits of portfolio trading, there is huge potential for its use cases to expand beyond cash credit and across the fixed income spectrum. Traders have already transcended market silos, and portfolio trading perfectly exemplifies how technology can help to further break down barriers and harmonize execution workflows.”
Tradeweb’s portfolio trading solution enables institutional traders to package bonds into a single basket, negotiate a portfolio level price with one or multiple liquidity providers, and execute the entire basket with a single counterparty. Portfolio trades can include bonds with varying liquidity profiles, and allow dealers to manage risk holistically at the portfolio level. Traders can easily replicate a benchmark or customize portfolios to match specific strategies, while mitigating operational risk and achieving Best Execution. Executing multiple bonds simultaneously with a single dealer significantly reduces information leakage and market slippage. Furthermore, Tradeweb clients are able to track execution costs at the portfolio level, helping them make better-informed trading decisions.
The first electronic portfolio trading transaction for European government bonds was completed on Tradeweb between L&G and Citi as the liquidity provider.
Kelly Moohan, Fixed Income Trader – Rates, Asset Management at L&G, said: “Our experienced high touch traders continue to work closely with our E-Trading team in order to innovate and drive efficiency with solutions, such as portfolio trading. The ability to execute a basket of European Government Bonds as a single package further enhances our capabilities on this front. We continue to drive and support new technological developments that help our clients rebalance portfolios and tailor risk transfers better, faster, and in different market environments.”
Todd Coletto, Head of Rates Business Development for
A record
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 50 products to clients in the institutional, wholesale, retail and corporates 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 more than 3,000 clients in more than 85 countries. On average, Tradeweb facilitated more than
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 the 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 events or performance and future events, 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 future events, 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 events, 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/20250408682928/en/
Media contacts:
Angeliki Kallipoliti, Tradeweb, +44 7824 327073, Angeliki.Kallipoliti@Tradeweb.com
Eloise Doolan, Tradeweb, +44 7917 266 191, Eloise.Doolan@Tradeweb.com
Investor contacts:
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 trading volume did Tradeweb (TW) achieve in portfolio trading during 2023?
How much did Tradeweb's (TW) European Government Bond trading volume grow in 2024?
Which companies completed the first electronic portfolio trade for European government bonds on Tradeweb (TW)?
How many market makers and currencies does Tradeweb (TW) support for European government bond trading?
