Tradeweb Markets Inc. announced this Wednesday that it has launched a multi-asset package (MAP) trading on its global Interest Rate Swaps (IRS) platform.
Tradeweb, which operates in the rates, credit, equities and money markets, has launched this package to streamline the simultaneous execution of interest rate swaps, inflation swaps and government bonds, the statement said.
In addition to announcing the launch of its new package, the marketplace operator also revealed that the first multi-asset package transaction using in-competition request-for-quote (RFQ) has taken place between Legal & General Investment Management (LGIM) and .
Buy-side connection to deep liquidity pools
Source: LinkedIn
Building upon the net present value (NPV) list trading tool, the Tradeweb MAP enables clients to gain access to competitive pricing, increased execution speed for multi-asset packages. The new functionality can also reduce manual booking errors, the company said in the statement.
For each instrument in the package, the company uses its live market data to present buy-side trading desks with analytics and pricing. Furthermore, Tradeweb automatically sends swaps transactions for clearing and bond transactions for booking.
“The Global Trading team at LGIM is constantly looking for ways to innovate, and ultimately improve client outcomes,” added Phil Hunter, head of rates trading at Legal & General Investment Management.
“The Tradeweb MAP functionality helps LGIM reduce trading costs and achieve straight-through processing, while also ensuring that enhanced best execution requirements under MiFID II are being met.”
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