Sell-Side Technology Awards 2020: Best Swap Execution Facility—Tradeweb Markets
Mark it six in a row for Tradeweb Markets in the swap execution facility (SEF) category. While the company’s dominance in this category hasn’t changed, the world in which it operates has. The coronavirus pandemic has required more customers to work from home or remotely, and conduct work more electronically and efficiently—a theme that the company has been working on for some time.
Tradeweb has been focused on making continual improvements to trading workflows, adding digital shortcuts, integrating critical regulatory functions, and creating entirely new automated trading technologies—and all of this was going on before Covid-19 roiled the markets. As a result, Tradeweb has enjoyed record growth in interest rate derivatives trading on its platform. In 2019, an average of $212.5 billion in rates derivatives was traded every day on Tradeweb, a 66% jump from 2018. Additionally, Tradeweb’s TW SEF is currently the largest SEF for vanilla swaps, with over 22 trillion traded in 2019, or 42% of industry-wide SEF volume, based on data from Clarus FT.
Most recently, Tradeweb has seen consistent growth in multi-asset packages (MAP) trading, which clients use to achieve more competitive pricing, reduce manual booking errors, and increase execution speed for package trades. Users have also been using list trading to facilitate migrating their portfolios from Libor to risk-free benchmarks, as well as trading across multiple central counterparties (CCPs) and managing basis risk. On the collaboration front, Tradeweb has continued its work with Cassini Systems and OpenGamma to help clients access lifecycle cost analytics, minimize trading costs, and prove best execution. And, of course, the company has continued to grow its footprint, adding currencies like the Czech Koruna, Hungarian Forint, and Mexican Peso.
While the pandemic is still unfolding, for the rest of 2020 and beyond, Tradeweb is continuing to build functionality to support the market through this year’s Libor transition toward alternatives like Sonia, €str, and Sofr.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Buy-Side Technology Awards 2024 winner’s interview: Artificial Intelligence Risk
CEO of AI Risk discusses how its AIR-GPT platform earned the company Best buy-side AI platform or tool (compliance) at the BST awards
AFTAs 2024: Best AI/machine learning initiative—TCW Group
Project name: EU Securitization Regulatory & Compliance
AFTAs 2024: Best IT team—TCW Group
Project name: ETF Launch Project
Buy-Side Technology Awards 2024 winner’s interview: Kaizen
Kaizen won the Best market surveillance platform category in this year’s BST Awards, discussed in this video with Kaizen’s vice-president
AFTAs 2024: All the winners
Here are the winners of the 27 categories in the 2024 American Financial Technology Awards. This year's multi-category winners are JP Morgan Asset and Wealth Management, Morgan Stanley, TCW Group and Northern Trust.
AFTAs 2024: Best data management initiative—Bank of America
Project name: Enterprise DataConnect
Buy-Side Technology Awards 2024 winner’s interview: S&P Global Market Intelligence
S&P Global Market Intelligence won Best buy-side managed data service for the second consecutive year thanks to its iLEVEL Managed Data Services offering
SimCorp back to its winning ways
What separates SimCorp’s Ibor from similar offerings across the buy side, and its foundational role in the creation of the firm’s recently unveiled investment management platform, SimCorp One.