Electronic trading platform Tradeweb Markets has collaborated with S&P Global Market Intelligence to provide electronic connectivity between European primary and secondary markets.
European credit, covered, sovereign, supranational and agency (SSA) bonds are currently included in the product scope.
Tradeweb’s integration of S&P Global Market Intelligence’s digital primary market platform, InvestorAccess, will provide its clients with electronic access to new deals alongside the ability to manage orders in the primary market via the Tradeweb platform.
“Launching a single consolidated workflow for primary and secondary markets is a natural evolution for our European fixed income offering,” said Enrico Bruni, head of Europe and Asia business at Tradeweb.
“Our collaboration with S&P Global Market Intelligence will accelerate the automation of manual steps across primary workflows for our mutual clients, resulting in a more immediate and seamless transition from primary issuance through to secondary trading.”
InvestorAccess seeks to improve the issuance of new deals through the automation of typically manual processes for accessing deal terms in addition to communicating order and allocations.
By integrating InvestorAccess into Tradeweb’s European fixed income marketplace, clients of the latter will be able to leverage a full suite of electronic trading tools both during and after issuance.
Tradeweb stated that the faster set up process of newly-issued bonds means that clients can now service their early secondary execution needs much more quickly and efficiently.
In addition, through the use of S&P Global Market Intelligence’s deal services API, Tradeweb will be able to process all the syndicate desk’s structured deal terms, resulting in a quicker set up of securities and faster access to electronic secondary liquidity via Tradeweb.
“Buy-side traders using Tradeweb are now able to send orders electronically into the orderbook being managed by the syndicate banks and, importantly, receive allocations electronically back into Tradeweb for onward processing in their order management system (OMS), significantly streamlining the transition from primary to secondary,” said Chris Sztam, head of global markets group at S&P Global Market Intelligence.