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Tradeweb to launch all-to-all corporate bond trading in Europe

All-to-All credit platform to be launched in Europe during the second half of this year.

By Hayley McDowell hayley.mcdowell@strategic-i.com April 11, 2017 10:05 AM GMT

Tradeweb will extend its all-to-all corporate bond trading service, to be launched in the US later this year, into Europe following an increase in demand for RFQ trading protocols.

The service will be available to European investors during the second half of this year and will provide users with an alternative method of requesting liquidity from a set of price makers.

Enrico Bruni, managing director and head of Europe and Asia business at Tradeweb, explained building on the launch of FlexRFQ last year, “we looked at providing investors with even more choice when executing their strategy, and delivering greater flexibility in counterparty selection.”

He added: “We see clients regularly using Flex and Blast RFQ in conjunction with our SNAP functionality, which helps them select the most competitive axes or prices streamed by market makers on our platform.”

Tradeweb’s European credit platform saw activity in spread products and Eurobonds reach record volumes in the first quarter this year.

Trading of European spread products and Eurobonds reached €73.8 billion in the first quarter of 2017, beating the same period last year by over 22%.

Similarly, volume executed in European credit totalled more than €38 billion, up 21% from the first quarter in 2016 when the previous record was set.

Speaking to The TRADE earlier this year, CEO at Tradeweb, Lee Olesky, explained the firm has managed its expansion through its “focus and understanding of market structure.”

He said: “There needs to be a real in-depth understanding of how these products trade so that when we present them to the market, we make sure we are offering appropriate rules of engagement.”