Global asset manager BlackRock has announced a strategic alliance with Tradeweb, an electronic trading platform operator, to create a combined service for trading rates and derivatives instruments.
Buy-side firms that use Aladdin, BlackRock’s investment and risk management portal, will be able to access pricing from 40 liquidity providers to Tradeweb via the Aladdin Trading Network. Tradeweb clients will benefit from enhanced market data and trading tools.
The firms said the alliance will “fuse the Tradeweb marketplace with Aladdin to create a powerful combination of order management, pricing, and execution tools providing clients with increased ability to recognise trading opportunities.”
“Integrating Aladdin with Tradeweb’s global rates and derivatives platform delivers a more streamlined and enhanced trading experience,” said Sudhir Nair, incoming global head of the Aladdin business. “Given regulatory and workflow pressures in the rates and derivatives markets, partnering with Tradeweb to aggregate liquidity and increase efficiencies in trading is a natural extension of the Aladdin Trading Network and delivers immediate value to the Aladdin community.”
“Our partnership with Aladdin is a great step forward in providing investors with a fully automated workflow,” said Lee Olesky, CEO of Tradeweb. “As the industry leader in driving flexible, electronic solutions for rates trading, we look forward to the greater synergies and opportunities this collaboration will bring to the investing community.”
The Aladdin Trading Network – which also has an alliance with the MarketAxess credit trading platform – is designed to provide BlackRock’s internal and external clients with pricing, liquidity, and execution tools to aggregating liquidity and improve trading processes and workflows.
Tradeweb is owned by global financial data and information provider Thomson Reuters.