Tradeweb Markets Launches Mainland China’s Offshore Trading Platform

The new online trading system will allow investors in Mainland China and overseas to trade in different markets.

Tradeweb Markets, an online trading firm offering fixed income, ETFs, and derivatives, has launched its new offshore trading platform which is connected to the China Foreign Exchange Trade System (CFETS). The company’s goal is to make this platform the main medium of offshore traders to join Bond Connect Company Limited, a CFETS and Hong Kong Exchanges and Clearing Limited (HKEX) joint venture that will help with registration and admission.

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The People’s Bank of China and the Hong Kong Monetary Authority (HKMA) have publicized Bond Connect, an investment environment which allows bond trading in the markets of Mainland China and abroad. This medium has become available by using the connections of the infrastructure entities in Hong Kong and China for custody, settlement, and investing. Northbound Trading will be introduced to the platform first in its initial stage, with overseas traders being able to invest in the China Interbank Bond Market (CIBM).

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Lee Olesky, CEO of Tradeweb Markets, commented: “We are pleased to be the first trading platform to link to Bond Connect, an offering leveraging the familiar practices already used by foreign investors through Tradeweb across other market places. We believe the liberalization of the Chinese bond market is a landmark event, and Tradeweb is excited to be acting as the first access link for this initiative.  Given the strength of our investor network of over 2,000 clients globally, we are well positioned to help the evolution of this market.”

Charles Li, HKEX’s Chief Executive, added: “The Bond Connect program leverages the expertise HKEX has had as a global exchange leader and Tradeweb’s experience as the global industry leader in driving flexible, electronic solutions for fixed income trading. The extension of the Connect family furthers the goal to connect China’s financial market with the world. Tradeweb’s deep fixed income experience and global client network are key to helping meet the Bond Connect objectives.”

Chuanzhi, President of CFETS, said: “We are pleased that Tradeweb, as an international trading platform, will connect with CFETS under the Bond Connect project, building a bridge for the global investor community to participate in the China Interbank Bond Market. We hope this arrangement will create value to both markets.”

In March, Finance Magnates covered Tradeweb Markets’ announcement that Citadel Securities, the brokerage arm of Ken Griffin’s company, became a liquidity provider for the institutional U.S. Treasury marketplace following the venue’s expansion to $14 trillion in the U.S. government’s debt market.

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