Tradeweb has launched spread trading for European credit portfolios.
Institutional investors are able to negotiate pricing in data points relative to a government bond benchmark, before executing the portfolio trade in a single workflow.
Each bond is quoted as a spread with levels fixed at execution before being consolidated into a net result, with flexible spot timing. Bond prices will then be automatically calculated through Tradeweb’s government bond marketplace data.
Ben Wheeler, lead fixed income trader at Royal London Asset Management, noted, It brings greater precision to how we manage our credit exposure and makes it easier to coordinate execution across multiple line items. Moving this workflow onto an electronic platform reduces operational friction and gives us even greater control over timing and pricing.”
Spread trading is currently used across Europe and in the US investment-grade bond space.
The service will help to reduce manual operations in a voice-driven protocol, Tradeweb said.
James Dale, co-head of international developed markets, commented, “The launch of spread trading for European credit portfolios reflects our commitment to making complex trading workflows more efficient and intuitive for our clients. By extending to Europe a capability already delivering value in the US, we are providing a more consistent framework for pricing and execution, while helping market participants reduce operational complexity and improve transparency.”
Tradeweb recently launched an AI research assistant for institutional credit trading.
READ MORE: Tradeweb joins race for credit AI tools
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