Tradeweb Launches Enhanced RFQ Functionality for Credit Markets

By: Tradeweb Markets Inc. via Business Wire

June 13, 2024 at 08:42 AM EDT

RFQ Edge delivers innovative real-time analytics first developed for Portfolio Trading to the RFQ ticket

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has launched an enhanced functionality for request-for-quote (RFQ) trading in U.S. Credit markets. Known as RFQ Edge, the new functionality deploys Tradeweb’s advanced portfolio trading analytics to its RFQ protocol to deliver a more powerful list trading experience for U.S. credit and ETF traders.

RFQ Edge allows clients access to real-time trading data and analytics, customized charting functionality and dealer performance breakdowns. This enhanced level of market insight promotes more transparency, efficiency and customization at the RFQ ticket level, enabling clients to make better-informed trade decisions. Furthermore, RFQ Edge leverages Tradeweb innovations such as Tradeweb Ai-Price, which provides real-time prices for nearly 30,000 corporate bonds, to more accurately identify and compare which bonds to trade.

Iseult Conlin, Head of U.S. Institutional Credit at Tradeweb, said: “This new functionality is a first for the industry and represents the next frontier of credit trading. We’ve taken what we learned from our widely successful electronic portfolio trading tool and introduced a new level of analytics for RFQ that has never been available. Clients can now leverage predictive analytics and data to unveil deeper insights at the list level, providing them with an unparalleled level of precision throughout every point of the RFQ trading process. We remain committed to moving credit markets toward more electronification, and RFQ Edge is the latest example of how we continue to evolve our existing credit protocols, position our clients at the forefront of change, and compete for market share. Client feedback so far has been overwhelmingly positive, and that feedback loop will set us up to drive the next wave of innovation.”

Tradeweb continues to report significant growth across U.S. credit, and in the first quarter of 2024, Tradeweb reported record quarterly average daily volume (ADV) in fully electronic U.S. High Grade credit. In May 2024, Tradeweb captured a 17.6% share of fully electronic U.S. High Grade TRACE and a 7.5% share of fully electronic U.S. High Yield TRACE. Tradeweb continues to introduce new electronic tools and protocols that foster a more holistic credit trading process, building on previous Tradeweb innovations such as portfolio trading, Tradeweb Ai-Price, Tradeweb Automated Intelligent Execution (AiEX) tool and Tradeweb AllTrade®, which connects liquidity pools across institutional, wholesale and retail markets.

About Tradeweb Markets

Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 50 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves more than 2,500 clients in more than 70 countries. On average, Tradeweb facilitated more than $1.5 trillion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.