Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has collaborated with FTSE Russell to launch benchmark closing prices for European government bonds. Calculated in accordance with the EU Benchmark Regulation, Tradeweb FTSE Euro Government Bond Closing Prices are available from Tradeweb and provide end-of-day reference prices for Euro-denominated nominal bonds issued by Austria, Belgium, Finland, European Union, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal and Spain.
Tradeweb is the Calculation Agent and FTSE Russell is the Benchmark Administrator for Tradeweb FTSE Euro Government Bond Closing Prices. Tradeweb calculates the closing prices based on data from its dealer-to-client trading platform.
Tradeweb FTSE Euro Government Bond Closing Prices follow the same robust calculation methodology as Tradeweb’s well-established U.K. Benchmark Regulation prices for U.K. Gilts, which are produced in accordance with the IOSCO Principles for Financial Benchmarks. Trusted reference price data is critical for financial firms to manage investment portfolios, evaluate the fair value of securities, perform compliance and satisfy general accounting standards.
“With bond indices, ETFs and trade-at-close strategies becoming more and more integral to fixed income markets, the need for reliable and transparent closing price data has never been greater,” said Enrico Bruni, Head of Europe and Asia Business at Tradeweb. “FTSE Russell is a global leader in benchmarking and we look forward to extending our successful collaboration to other global markets going forward.”
“Having a robust and transparent methodology, that is administered according to IOSCO Principles for Financial Benchmarks, is core to providing credible reference pricing,” said Scott Harman, Global Head of Fixed Income and Multi-Asset Indices at FTSE Russell. “As a leading electronic trading platform for European government bonds, Tradeweb has a strong understanding of these markets and the important role this data plays across bonds, ETFs and indices.”
A record USD 42.4 billion in average daily volume was executed on Tradeweb’s European Government Bond platform in Q1 2023, up 12% from Q1 2022. The marketplace provides institutional investors with access to liquidity from more than 40 of the world’s largest market makers in bonds from 19 European countries in six currencies (EUR, GBP, DKK, SEK, NOK, CHF).
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 $1.1 trillion in notional value traded per day over the past four quarters. For more information, please go to www.tradeweb.com.
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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