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Tradeweb, InvestorAccess Link Primary and secondary markets

Tradeweb Markets Inc., one of the world’s leading operators of electronic marketplaces for rates, credit, stocks and money markets, announced its collaboration with S&P Global Market Intelligence to introduce electronic connectivity between primary markets and secondary. The product range currently includes European credit, covered, sovereign, supranational and agency (SSA) bonds. Tradeweb’s integration of InvestorAccess, S&P Global Market Intelligence’s digital primary market platform, allows Tradeweb clients to electronically access new trades and manage primary market orders through the Tradeweb platform.

“Launching a single consolidated workflow for primary and secondary markets is a natural evolution for our European bond offering,” said Enrico Bruni, Head of Europe and Asia Operations at Tradeweb. “Our collaboration with S&P Global Market Intelligence will accelerate the automation of manual steps in primary workflows for our joint clients, resulting in a more immediate and seamless transition from primary issuance to secondary trading.”

“S&P Global Market Intelligence brings greater efficiency to the primary market by connecting InvestorAccess electronically to Tradeweb. Buy-side traders using Tradeweb are now able to send orders electronically into the syndicate banks managed order book and more importantly receive allocations electronically into Tradeweb for further processing in their order management system (OMS), which greatly simplifies the transition from primary to secondary,” said Chris Sztam, head of the global markets group at S&P Global Market Intelligence.

InvestorAccess addresses a number of the challenges inherent in issuing new trades by automating what have traditionally been manual processes for accessing trade terms, as well as communicating orders and allocations. By integrating InvestorAccess with Tradeweb’s European fixed income marketplace, Tradeweb’s clients can better leverage a full suite of electronic trading tools, both during and immediately after issuance. The faster setup process for newly issued bonds means clients can now meet their early secondary execution needs much more quickly and efficiently.

“From the perspective of a trading desk committed to investing in highly innovative trading solutions, we strongly support the launch of initiatives to connect primary and secondary markets electronically,” said Vincenzo Barbagallo, Head of trading desk at Generali Insurance Asset Management SpA. RMS. “Preventing manual errors and accelerating the execution lifecycle of new issues are two goals closely related to our focus on constantly improving the efficiency of the entire trading process.”

“This groundbreaking initiative by Tradeweb and S&P Global Market Intelligence allows us to electronically process our primary SSA and covered bond allocations, as soon as they are released by syndicate banks, and route them downstream to our OMS,” said said Eric Heleine. , Head of Trading Desk & Overlay Management at Groupama Asset Management. “Extending digital workflows from secondary fixed income markets will bring much-needed automation and efficiency into the primary space.”

Tradeweb will also be able – via S&P Global Market Intelligence’s Deal Services API – to process all structured trade terms communicated by the Syndicate Office, which will speed up securities setup and facilitate faster access to secondary liquidity. electronically via Tradeweb.

Source: Tradeweb