Tradeweb has entered a collaboration with BNY’s cash management and liquidity platform, LiquidityDirect, in an effort to build out the current investment options available on Tradeweb’s ICD Portal.
Tom Britton
The expanded offering is set to go live in Q1 2027 and will allow ICD Portal users to leverage BNY as a custody and short-term investment platform at individual account level.
The move is expected to provide clients with greater flexibility based on their operational requirements, geography, and cash management preferences, and enables BNY’s LiquidityDirect-enabled capabilities to be utilised within existing ICD Portal workflows.
Specifically, Tradeweb’s ICD Portal serves as a multi-fund platform, which allows corporate treasury clients to access and trade money market funds and other short-term investments.
Tom Britton, co-head of corporates at Tradeweb, said: “Providing clients with more choice across their investment and operational workflows is an important part of how we continue to evolve ICD Portal.
“By adding BNY LiquidityDirect as an option, we will offer clients greater flexibility in how they structure their accounts, while also expanding the infrastructure available to support our international client base.”
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The offering also provides support for both US and international investment needs and enables a single point of access for streamlined management of short-term investments.
Moreover, the enhanced capabilities remove the need to implement broader changes to the ICD Portal workflow when diversifying investment options, by allowing new and existing clients to directly select BNY when establishing new accounts.
“By combining our capabilities with Tradeweb’s established client network and workflow, we will be able to provide firms with greater connectivity and support their evolving investment needs across markets globally,” said Clint Craft, head of liquidity and margin at BNY.
Earlier this month, Tradeweb went live with a new session-based trading protocol, aimed at supporting market participants trading in the municipal bond market.
The solution – Muni Sweep – is designed to reduce the time spent waiting for risk to be released in traditional bid-wanted workflows and ensure market makers can assess and act on large books of line items in a quick and efficient manner.