Tradeweb Successfully Completes its First Southbound Bond Connect Transactions
September 24 2021 - 8:07AM
Business Wire
Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of
electronic marketplaces for rates, credit, equities and money
markets, today announced it has completed its first Southbound Bond
Connect transactions via the trading link between Tradeweb and
China Foreign Exchange Trade System (CFETS).
“Southbound Bond Connect is the latest evolutionary step for
China’s financial market, providing domestic investors with more
flexibility and choice when trading offshore bonds,” said Lee
Olesky, CEO of Tradeweb Markets. “Together with CFETS, our goal is
to better meet onshore investors’ demand for streamlined access to
global investment. We will continue to focus on further enhancing
the trading link by deploying new innovative trading functionality,
just as we did with the Northbound leg of Bond Connect.”
Southbound Bond Connect facilitates fixed income portfolio
diversification for institutional investors in China. Tradeweb
collaborates closely with CFETS to create a uniform trading
experience for both offshore and onshore institutions via the
electronic request-for-quote (RFQ) workflow. Under Southbound Bond
Connect, Tradeweb supports transactions of various bonds tradable
in the Hong Kong bond market denominated in CNH, HKD, EUR, GBP and
USD.
James Sun, Head of Asia at Tradeweb, said: “We were the first
platform to facilitate Northbound trading on Bond Connect more than
four years ago, and we are here again on Day One of Southbound
trading. Today’s launch offers onshore investors enhanced access to
overseas liquidity, pre-trade transparency and innovative trading
mechanisms on Southbound Bond Connect.”
In 2017, Tradeweb was selected as the first trading link to the
Northbound leg of Bond Connect, having played a positive role in
the initiative’s design, creation and development. More than 2,730
offshore investors across 34 jurisdictions have accessed the China
Interbank Bond Market (CIBM) via the Northbound channel, which
alongside CIBM Direct serves as one of the main entry points to
China’s debt markets for foreign investment.
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 40 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
approximately 2,500 clients in more than 65 countries. On average,
Tradeweb facilitated more than $920 billion in notional value
traded per day over the past four quarters. For more information,
please visit www.tradeweb.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Statements related to,
among other things, our outlook and future performance, the
industry and markets in which we operate, our expectations,
beliefs, plans, strategies, objectives, prospects and assumptions
and future events are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210924005268/en/
Susan Bennett +44 7787 666432 Susan.Bennett@tradeweb.com
Angeliki Kallipoliti +44 7824 327073
Angeliki.Kallipoliti@tradeweb.com
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