Tradeweb Announces Partnership with BlackRock to Further Electronify Corporate Bond Market
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 unifes 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.
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.
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