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Tradeweb Markets Inc.(Nasdaq: TW), a leading, global operator of electronic marketplacesfor rates, credit, equities and money markets, today announced it hasachieved the final significant technology milestone relating to thecompany’s 2021 acquisition of the Nasdaq Fixed Income platform (formerly eSpeed) into itsDealerweb central limit order book (CLOB).
The Dealerweb CLOB has relocated its primarydata center to Equinix NY5 (Secaucus, NJ), providing enhancedinfrastructure, improved performance and a closer connection with abroader range of customers resulting in a faster and consistenttrading experience. The data center was formerly located at EquinixNY11 (Carteret, NJ).
“This move optimizes performance for market participants byplacing Dealerweb U.S. Treasury (UST) trading and price discovery incloser proximity to trading customers and vendors with an existingpresence in Equinix NY5,” said Tradeweb President Thomas Pluta.“Dealerweb is committed to offering the best possible tradingexperience for our clients, and by realizing operational synergies wecan continue to provide reliable and leading-edge trading services toour clients.”
Equinix NY5 provides equalized cross-connections to its NY2,NY4, and NY5 locations. The result is a deterministic tradingexperience with improved performance, achieving mean latencies ofapproximately 30µs. The west-to-east UST long haul data terminates atNY2, providing proximity to UST data and insight into correlated USTproducts. Equinix NY5 serves as the data center for many existingclients.
“Dealerweb’s infrastructure and data center move to theEquinix campus in Secaucus demonstrates its commitment to providing abest-in-class service to UST trading participants,” adds Troy Kane,Global Head of Derivatives and FICC Development at Citadel Securities.“The equalized connections and the strategic location provide closeproximity to important network paths from Chicago to Secaucus. CitadelSecurities is supportive of the move and what it will mean forDealerweb’s position in the market.”
In addition to delivering enhanced trading,price discovery and onboarding for wholesale UST, this move willenable Dealerweb to consolidate numerous UST “on-the-run”products. Later this year, Dealerweb plans to also move its ActivesStreams (DWAS) matching engine to Equinix NY5, providing a singlecross-connect for both the CLOB and Active Streams, and a singlestraight-through processing (STP) feed for both. The DWAS matchingengine is currently located at Cyxtera NJ2X (Weehawken,NJ).
About Tradeweb Markets
Tradeweb Markets Inc.(Nasdaq: TW) is a leading, global operator of electronic marketplacesfor rates, credit, equities and money markets. Founded in 1996,Tradeweb provides access to markets, data and analytics, electronictrading, straight-through-processing and reporting for more than 40products to clients in the institutional, wholesale and retailmarkets. Advanced technologies developed by Tradeweb enhance pricediscovery, order execution and trade workflows while allowing forgreater scale and helping to reduce risks in client tradingoperations. Tradeweb serves approximately 2,500 clients in more than65 countries. On average, Tradeweb facilitated more than $1.1 trillionin notional value traded per day over the past four quarters. For moreinformation, please go to www.tradeweb.com.
Forward-Looking Statements
This release contains forward-looking statements within themeaning of the federal securities laws. Statements related to, amongother things, our outlook and future performance, the industry andmarkets in which we operate, our expectations, beliefs, plans,strategies, objectives, prospects and assumptions and future eventsare forward-looking statements. We have based these forward-lookingstatements on our current expectations, assumptions, estimates andprojections. While we believe these expectations, assumptions,estimates and projections are reasonable, such forward-lookingstatements are only predictions and involve known and unknown risksand uncertainties, many of which are beyond our control. These andother important factors, including those discussed under the heading“Risk Factors” in documents of Tradeweb Markets Inc. on file withor furnished to the SEC, may cause our actual results, performance orachievements to differ materially from those expressed or implied bythese forward-looking statements. Given these risks and uncertainties,you are cautioned not to place undue reliance on such forward-lookingstatements. The forward-looking statements contained in this releaseare not guarantees of future performance and our actual results ofoperations, financial condition or liquidity, and the development ofthe industry and markets in which we operate, may differ materiallyfrom the forward-looking statements contained in this release. Inaddition, even if our results of operations, financial condition orliquidity, and events in the industry and markets in which we operate,are consistent with the forward-looking statements contained in thisrelease, they may not be predictive of results or developments infuture periods. Any forward-looking statement that we make in thisrelease speaks only as of the date of such statement. Except asrequired by law, we do not undertake any obligation to update orrevise, or to publicly announce any update or revision to, any of theforward-looking statements, whether as a result of new information,future events or otherwise, after the date of this release.
Contact Details
Tradeweb MediaContact
Daniel Noonan
+1 646-767-4677
TradewebInvestor Contact
Ashley Serrao
+1646-430-6027
TradewebInvestor Contact
Sameer Murukutla
+1646-767-4864
CompanyWebsite
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