Tradeweb expands data access through AWS collaboration

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Market operator Tradeweb is collaborating with Amazon Web Services (AWS) to broaden access to its US Treasury and UK Gilt closing price data through AWS Data Exchange, a service designed to makes it easier to find, subscribe to, and use third-party data in the cloud.

Buy-side interest in Tradeweb’s data offering has increased substantially over the past year, according to The DESK’s Trading Intentions Survey, with 12% of traders reporting they intended to use Tradeweb data services in future. That represents the largest pipeline of new business for any pre-trade data / analytics service in the survey.

The Tradeweb ICE US Treasury Closing Prices and Tradeweb FTSE U.K. Gilt Closing Prices are daily reference prices designed to reflect the mid-price for Treasury and Gilts securities around the market close. The Closing Prices are administered by a regulated benchmark administrator in compliance with the IOSCO Principles for Financial Benchmarks, and are calculated pursuant to a fixed methodology that the firm reports is transparent and auditable.

Under the new arrangement those closing prices can be accessed directly via AWS Data Exchange, either as a monthly subscription to daily publication data or as historical data sets.

This direct distribution option is intended to give users greater flexibility, and the integration of digital payment methods is designed to allow for easier, direct access to the data.

Lee Olesky, Tradeweb CEO, said, “In today’s environment, market participants want more than a one-size-fits-all approach when it comes to accessing data. They’re looking for agile, enhanced solutions that will keep pace with the constantly evolving digital landscape. This collaboration is an important step towards the broadening of access to Tradeweb data through the use of cloud-based services, and we’re excited for the road ahead.”

The direct distribution channel made available in collaboration with AWS should help to break down the barriers associated with the traditional method of data retrieval. By providing market participants with a potentially easier way to access Tradeweb data through the cloud they could have more flexibility in their options by choosing the exact data sets they want to see.

Noah Schwartz, general manager, AWS Data Exchange, AWS, said, “Tradeweb supplies vital data to a broad set of financial market participants across the globe. We’re pleased to work with Tradeweb to make end-of-day reference prices available on AWS Data Exchange. The availability of this data will help our mutual customers seamlessly feed their trading and portfolio management applications, risk analytics, and pricing models running on AWS.”

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