Tradeweb Lands Framework Deals with ECB and NCBs for Trading Platforms

by Tareq Sikder
  • The company previously secured the tender to supply ETPs to the ECB back in 2015.
  • The contract designates the primary provider of electronic trading platforms for the next four years.
Tradeweb

Tradeweb Markets Inc. (Nasdaq: TW) has secured two framework agreements aimed at providing Electronic Trading Platforms (ETPs) to the European Central Bank (ECB) and other Eurosystem National Central Banks (NCBs). The contracts have come following Tradeweb's successful participation in a rigorous procurement procedure orchestrated by the ECB.

Renewed ETP Contract for Diverse Financial Instruments

This isn't the first time Tradeweb has clinched such a deal. The company previously won the tender to supply ETPs to the ECB back in 2015. The newly awarded framework agreements encompass the provision of ETPs for trading a diverse range of financial instruments. These include EUR-denominated bonds, such as European government bonds, covered bonds, corporate bonds, repo, deposits, and certificates of deposits.

Billy Hult, CEO, Tradeweb
Billy Hult, CEO, Tradeweb, Source: LinkedIn

Billy Hult, the CEO at Tradeweb Markets, said: “We are grateful for the opportunity to provide trading services and solutions to the European Central Bank for another term. We remain focused on continuing to collaborate with the ECB, while enhancing the trading experience for central bank and sovereign wealth fund clients across our platform.”

ECB Contracts Extend to USD and JPY Instruments

Additionally, the agreements cover US Treasuries, Japanese government bonds, USD- and EUR-denominated SSA (supranationals, sovereign, and agency) bonds, as well as USD- and JPY-denominated interest rate swaps.

Under the terms of the contracts, Tradeweb will operate as the primary provider of electronic trading platforms for the aforementioned financial instruments over the next four years. Importantly, the contracts also include provisions for potential extensions, with the option to renew twice for an additional two years each time.

In 2023, Tradeweb Markets reported its highest-ever revenue for the 24th consecutive year, as reported by Finance Magnates. The company released its financial results for both the fourth quarter and the full year, showcasing significant revenue growth fueled by robust trading activity across various key products.

Fourth-quarter total revenues surged 26.3% year-over-year to reach $370 million. On a constant currency basis, revenues saw a notable increase of 24.6%. The company marked a record average daily trading volume of $1.7 trillion for the quarter, indicating a substantial rise of 57%.

Tradeweb Markets Inc. (Nasdaq: TW) has secured two framework agreements aimed at providing Electronic Trading Platforms (ETPs) to the European Central Bank (ECB) and other Eurosystem National Central Banks (NCBs). The contracts have come following Tradeweb's successful participation in a rigorous procurement procedure orchestrated by the ECB.

Renewed ETP Contract for Diverse Financial Instruments

This isn't the first time Tradeweb has clinched such a deal. The company previously won the tender to supply ETPs to the ECB back in 2015. The newly awarded framework agreements encompass the provision of ETPs for trading a diverse range of financial instruments. These include EUR-denominated bonds, such as European government bonds, covered bonds, corporate bonds, repo, deposits, and certificates of deposits.

Billy Hult, CEO, Tradeweb
Billy Hult, CEO, Tradeweb, Source: LinkedIn

Billy Hult, the CEO at Tradeweb Markets, said: “We are grateful for the opportunity to provide trading services and solutions to the European Central Bank for another term. We remain focused on continuing to collaborate with the ECB, while enhancing the trading experience for central bank and sovereign wealth fund clients across our platform.”

ECB Contracts Extend to USD and JPY Instruments

Additionally, the agreements cover US Treasuries, Japanese government bonds, USD- and EUR-denominated SSA (supranationals, sovereign, and agency) bonds, as well as USD- and JPY-denominated interest rate swaps.

Under the terms of the contracts, Tradeweb will operate as the primary provider of electronic trading platforms for the aforementioned financial instruments over the next four years. Importantly, the contracts also include provisions for potential extensions, with the option to renew twice for an additional two years each time.

In 2023, Tradeweb Markets reported its highest-ever revenue for the 24th consecutive year, as reported by Finance Magnates. The company released its financial results for both the fourth quarter and the full year, showcasing significant revenue growth fueled by robust trading activity across various key products.

Fourth-quarter total revenues surged 26.3% year-over-year to reach $370 million. On a constant currency basis, revenues saw a notable increase of 24.6%. The company marked a record average daily trading volume of $1.7 trillion for the quarter, indicating a substantial rise of 57%.

About the Author: Tareq Sikder
Tareq Sikder
  • 585 Articles
  • 4 Followers
About the Author: Tareq Sikder
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.
  • 585 Articles
  • 4 Followers

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