Tradeweb expands Refinitiv data redistribution agreement

Refinitiv extends scope of data distribution to include Tradeweb market data for multiple fixed income instruments.

Tradeweb has announced it is extending its market data redistribution agreement with Refinitiv to include new datasets.

The agreement means Refinitiv users across the vendor’s platforms such as Eikon and Elektron, as well as other cloud-based solutions, will gain to access Tradeweb’s  market data.

The new Tradeweb datasets to be made available will cover multiple fixed income instruments across credit, rates, money markets as well as cash and derivatives. Data is sourced from multiple platforms within Tradeweb for market participants in the institutional, wholesale (Dealerweb), and retail (Tradeweb Direct) markets.

“Tradeweb provides access to market data that is essential for financial professionals to make informed trading decisions,” said Brian McEllligott, head of data strategy, Tradeweb Markets. “Refinitiv represents a natural distribution channel for Tradeweb and the agreement expands upon a long and successful partnership. In addition, the agreement advances Tradeweb’s growth strategy in market data to serve market participants in the institutional, wholesale and retail markets.”

Tradeweb first announced its partnership with Refinitiv in August this year, which added US Treasury data from Tradeweb’s business Dealerweb, alongside continued USD interest rate swap and multi-currency information from broker-dealer ICAP, to the Refinitiv Capital Markets 19901 (RCM19901) benchmark.

The deal was announced shortly after Bloomberg announced the launch of its Capital Markets Package, a service that combines NEX BrokerTec (now part pf CME Group) US Treasuries data with USD spread-over data from Tradition’s swap execution facility (SEF) Trad-X platform, after a previous agreement between NEX BrokerTec and Thomson Reuters expired.

Speaking to the extension of the agreement between Refinitiv and Tradeweb, Debra Walton, chief customer proposition officer at Refinitiv said: “Tradeweb data is among the most sought after and utilized data across the Refintiv platform. We are very pleased to be able to renew our agreement with Tradeweb which will provide more exclusive content to our customers. This agreement is part of our ongoing program commitment to deliver new and unique content as a core foundation of our data analytics and workflow solutions.”