Bond trading venue Tradeweb bolstered its expansion efforts by adding central and eastern Europe, Middle East and Africa (CEEMEA) bonds to its electronic platform.
The new CEEMEA instruments lets institutional investors trade euro-, sterling- and US dollar-denominated bonds from sovereign, agency, corporate and financial issuers based in the region.
The move forms part of Tradeweb’s expansion, following the relaunch of its CDS indices platform and the introduction of high-yield bonds and Asian credit instruments.
Rupert Warmington, director of European credit markets at Tradeweb, said buy-siders see growth in the bonds market despite overall lower volumes seen this year.
“Although it's currently a difficult environment for credit markets, more than 85% of volume on the platform is executed by real-money institutions such as asset managers, that continue to seek great efficiency in the trading of cash credit bonds,” Warmington said.
European cash credit volumes on Tradeweb have grown this year, with trading volume reaching €27.6 billion in Q3, a 109% year-on-year increase.
Warmington contends this latest expansion has been driven by buy-side traders seeking to exploit liquidity opportunities across an increased array of instruments.
“We are actively expanding our offering to meet demand from our clients for a wider suite of products,” Warmington said.
The marketplace uses the request-for-quote protocol, which lets dealers view or trade on real-time, indicative streaming prices they source from individual dealers. It also supports list trading and up to 20 bonds trades can be executed simultaneously.