(NewsDirect)
Tradeweb, Euroclearand Informa Global Markets (IGM) today jointly announced acollaboration to automate the security identification and setupprocess for soon-to-be issued syndicated Eurobonds in the primarymarket. This solution aims to significantly improve the way investorsaccess and manage critical pre-pricing data for newly-syndicatedEurobonds, facilitating further automation of primary markets and astreamlined transition into secondary trading.
Many newly-issuedEurobonds enter the market without essential information regarding thenew bond, including security identifiers and critical dealinformation. Due to fragmentation in primary markets, timely andaccurate reference and real-time deal data can be delayed. Thishinders market participants from satisfying data requirements to booktrades in newly-issued securities. Buy-side investors are often leftwith the task of finding manual workarounds and face the risk ofincorrect orders or allocations.
Through the Euroclear and IGM data solutions, theinformation describing the new issue, the security identifiers and thedeal data will become available on Tradeweb at a much earlier stage inthe trade process and on a real-time basis, as a newly-issued Eurobondis marketed and priced. Through Tradeweb, participants will have theability to consume the collated data shell directly or viaTradeweb’s existing order management system (OMS) integrations withover 480 OMSs and 2,500 clients. This will allow investors toautomatically set up their new issue securities and efficiently managetheir order and allocation process.
“Through collaborating with our mutual clients,we identified the need to automate the security setup process in theprimary market,” said Enrico Bruni, Head of Europe and AsiaBusiness, Tradeweb. “We believe this solution will change the waybuy-side investors access essential data for new issues. It’sanother step toward a more automated primary market and buildinggreater and faster connectivity with the secondary market.”
“Through thissolution, we will address a critical issue for primary marketinvestors around the need for quicker access to reliable new issuedeal information for Eurobonds,” said Philippe Laurensy, Group Headof Strategy, Product and Innovation, Euroclear. “We are extremelypleased to be working with Tradeweb and Informa Global Markets on thisinitiative, which we expect will significantly reduce cost and risk onthe buy-side community. As a financial market infrastructure, our roleis to bring efficiencies, connectivity and safety to the market valuechain from issuers to investors through innovative and sustainablesolutions.”
“The previous downstream new issue data setup andreconciliation process was entirely manual and generated significantexecution risk,” said Terry Wilby, Managing Director, IGM. “Withthis new tri-party solution, buy-side clients will have access totrusted, reliable, accurate and timely information on new bondsreadily integrated into their OMS, Execution Management Systems (EMS)and internal systems.”
This initiative is an example of how, through opencollaboration and partnership, change and innovation becomesincreasingly possible in the primary market. This service is expectedto launch in Q3 of 2023.
About TradewebMarkets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading,global operator of electronic marketplaces for rates, credit, equitiesand money markets. Founded in 1996, Tradeweb provides access tomarkets, data and analytics, electronic trading,straight-through-processing and reporting for more than 40 products toclients in the institutional, wholesale and retail markets. Advancedtechnologies developed by Tradeweb enhance price discovery, orderexecution and trade workflows while allowing for greater scale andhelping to reduce risks in client trading operations. Tradeweb servesapproximately 2,500 clients in more than 65 countries. On average,Tradeweb facilitated more than $1.1 trillion in notional value tradedper day over the past four quarters. For more information, please goto www.tradeweb.com .
AboutEuroclear
Euroclear group is the financial industry'strusted provider of post trade services. Guided by its purpose,Euroclear innovates to bring safety, efficiency and connections tofinancial markets for sustainable economic growth. Euroclear providessettlement and custody of domestic and cross-border securities forbonds, equities and derivatives, and investment funds. As a proven,resilient capital market infrastructure, Euroclear is committed todelivering risk-mitigation, automation and efficiency at scale for itsglobal client franchise. The Euroclear group comprises Euroclear Bank,the International CSD, as well as Euroclear Belgium, EuroclearFinland, Euroclear France, Euroclear Nederland, Euroclear Sweden,Euroclear UK & International and MFEXbyEuroclear. For moreinformation, please go to www.euroclear.com
About Informa Global Markets (IGM)
IGM is theprimary source for live, trusted syndicated bond data andintelligence, and a leading provider of insight on market-movingevents in foreign exchange and rates markets. We pride ourselves onspeed, accuracy, and flexibility of delivery to a range of clientsincluding banks, fund managers, trading platforms, quant traders andworkflow solution providers.
For more information, please visit www.informaconnect.com/igm/
IGMis an Informa Connect business.
Forward-LookingStatements
This release contains forward-looking statementswithin the meaning of the federal securities laws. Statements relatedto, among other things, our outlook and future performance, theindustry and markets in which we operate, our expectations, beliefs,plans, strategies, objectives, prospects and assumptions and futureevents are forward-looking statements.
We have based theseforward-looking statements on our current expectations, assumptions,estimates and projections. While we believe these expectations,assumptions, estimates and projections are reasonable, suchforward-looking statements are only predictions and involve known andunknown risks and uncertainties, many of which are beyond our control.These and other important factors, including those discussed under theheading "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 expressedor implied by these forward-looking statements. Given these risks anduncertainties, you are cautioned not to place undue reliance on suchforward-looking statements. The forward-looking statements containedin this release are not guarantees of future performance and ouractual results of operations, financial condition or liquidity, andthe development of the industry and markets in which we operate, maydiffer materially from the forward-looking statements contained inthis release. In addition, even if our results of operations,financial condition or liquidity, and events in the industry andmarkets in which we operate, are consistent with the forward-lookingstatements contained in this release, they may not be predictive ofresults or developments in future periods.
Any forward-lookingstatement that we make in this release speaks only as of the date ofsuch statement. Except as required by law, we do not undertake anyobligation to update or revise, or to publicly announce any update orrevision to, any of the forward-looking statements, whether as aresult of new information, future events or otherwise, after the dateof this release.
Contact Details
TradewebMedia Contact
Nadine Habib
+44 7917 266191
EuroclearMedia Contact
Craig MacDonald
+44 20 78490315
IGMMedia Contact
Richard Kennerley
+44 7876684262
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