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Tradeweb Launches Electronic European Repo Marketplace
LONDON, July 26, 2011/PRNewswire/ --
Tradeweb Markets LLC, a leader in building and operating financial
markets, today announced the launch of a European repo marketplace. The
electronic dealer-to-customer platform mirrors the existing voice and
message-based trading process, while enabling efficient trade execution and
substantially simplifying the post-trade complexities of collateral
assignment and allocation.
Leading institutional investors across Europe have already shown strong
commitment to the platform. In addition to the benefits of speed and
efficient trade processing, customers are able to request executable quotes
from up to five dealers, which can be viewed in one place at one time, and
negotiate rates and haircuts. A full audit trail of activity provides best
execution reporting to the buy-side.
"We continue to be at the forefront of electronic trading in fixed
income and derivatives markets," said Steve Hall, head of Tradeweb's
international business. "Our clients understand the benefits of electronic
trading and we are excited about this new opportunity."
Tradeweb has nine liquidity providers either already live or in the
process of technical implementation, and further interest from the wider
dealer community. Dealers are keen to provide repo liquidity to their
customers, whilst benefitting from efficient collateral assignment and
allocation tools, and from straight through processing.
"We have drawn on our deep understanding of the money markets and our
clients' needs, and worked closely with both the buy- and sell-side to
develop a marketplace that creates real efficiencies," commented Nigel de
Jong, a director of money markets at Tradeweb. "European repo is becoming an
increasingly important product for institutional investors. Now they can
execute across a broad range of European money markets instruments on
Tradeweb."
Users can trade classic repo and reverse repo on tri-party, bilateral
general collateral and bilateral specials on terms from overnight to
one-year, with forward start capability.
About Tradeweb
Tradeweb is a leader in building and operating financial markets. As a
pioneer in the development of electronic trading and trade processing, the
company provides services in the fixed income and derivatives markets to
clients in more than 50 countries. Since 1998, Tradeweb has operated a
global fixed income and derivatives trading network that harnesses the
distribution of the major investment banks with over 2,000 institutional
clients. In 2008, Tradeweb introduced inter-dealing broking capability with
the acquisition of voice broker Hilliard Farber and subsequently launched
Dealerweb, an electronic IDB platform. Tradeweb Retail provides a trading
and sales application to fixed income brokers and traders.
Louise Collins, Tradeweb +44(0)20-7776-0943
louise.collins@tradeweb.com
Frederick Duff Gordon, Moorgate +44(0)20-7377-4996
frederick.dg@moorgategroup.com
Source: Tradeweb Markets LLC
.
Tradeweb Launches Electronic European Repo Marketplace
LONDON, July 26, 2011/PRNewswire/ --
Tradeweb Markets LLC, a leader in building and operating financial
markets, today announced the launch of a European repo marketplace. The
electronic dealer-to-customer platform mirrors the existing voice and
message-based trading process, while enabling efficient trade execution and
substantially simplifying the post-trade complexities of collateral
assignment and allocation.
Leading institutional investors across Europe have already shown strong
commitment to the platform. In addition to the benefits of speed and
efficient trade processing, customers are able to request executable quotes
from up to five dealers, which can be viewed in one place at one time, and
negotiate rates and haircuts. A full audit trail of activity provides best
execution reporting to the buy-side.
"We continue to be at the forefront of electronic trading in fixed
income and derivatives markets," said Steve Hall, head of Tradeweb's
international business. "Our clients understand the benefits of electronic
trading and we are excited about this new opportunity."
Tradeweb has nine liquidity providers either already live or in the
process of technical implementation, and further interest from the wider
dealer community. Dealers are keen to provide repo liquidity to their
customers, whilst benefitting from efficient collateral assignment and
allocation tools, and from straight through processing.
"We have drawn on our deep understanding of the money markets and our
clients' needs, and worked closely with both the buy- and sell-side to
develop a marketplace that creates real efficiencies," commented Nigel de
Jong, a director of money markets at Tradeweb. "European repo is becoming an
increasingly important product for institutional investors. Now they can
execute across a broad range of European money markets instruments on
Tradeweb."
Users can trade classic repo and reverse repo on tri-party, bilateral
general collateral and bilateral specials on terms from overnight to
one-year, with forward start capability.
About Tradeweb
Tradeweb is a leader in building and operating financial markets. As a
pioneer in the development of electronic trading and trade processing, the
company provides services in the fixed income and derivatives markets to
clients in more than 50 countries. Since 1998, Tradeweb has operated a
global fixed income and derivatives trading network that harnesses the
distribution of the major investment banks with over 2,000 institutional
clients. In 2008, Tradeweb introduced inter-dealing broking capability with
the acquisition of voice broker Hilliard Farber and subsequently launched
Dealerweb, an electronic IDB platform. Tradeweb Retail provides a trading
and sales application to fixed income brokers and traders.
Louise Collins, Tradeweb +44(0)20-7776-0943
louise.collins@tradeweb.com
Frederick Duff Gordon, Moorgate +44(0)20-7377-4996
frederick.dg@moorgategroup.com
Source: Tradeweb Markets LLC
.