Tradeweb has launched multi-asset package trading for USD-denominated swaps, following the success of the product in Europe.
The functionality allows institutional users of Tradeweb’s swap execution facility (SEF) to simultaneously execute interest rate swaps, inflation swaps and government bonds in one trade and improves transparency, analytics and liquidity, the company states.
It was initially launched for global interest rate swaps in 2019, using in-competition request-for-quote.
Bhas Nalabothula, managing director and head of US institutional rates, commented, “As our market continues to evolve, our clients are increasingly focused on smarter, more streamlined trading solutions. [This functionality] enables clients to package and execute large baskets of risk with greater control and simplicity.”
An inaugural trade was executed between Barclays and an undisclosed global hedge fund.
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