Tradeweb delivers US Treasury and UK Gilt Closing Price data on AWS

Rick Steves

The offering addresses demand for personalized and efficient digital solutions, including pay-as-you-go access to data, in response to current virtual and hybrid market environments.

exchange

Tradeweb Markets Inc. has announced a partnership with Amazon Web Services (AWS) to broaden access to its U.S. Treasury and U.K. Gilt closing price data.

Via AWS Data Exchange, users can obtain direct access to data either as a monthly subscription to daily publication data or as historical data sets.

The offering addresses demand for personalized and efficient digital solutions, including pay-as-you-go access to data, in response to current virtual and hybrid market environments.

Lee Olesky, Chief Executive Officer of Tradeweb, 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.”

Noah Schwartz, General Manager, AWS Data Exchange, AWS, commented: “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.”

The Tradeweb ICE U.S. 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.

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, transparent, and auditable methodology.

Earlier this year, Tradeweb reported turnover figures for the full-year 2020, showing that the move to zero and in some cases, negative interest rates. didn’t dent traders’ appetites in these markets over the course of 2020.

In the fixed income segment, mortgage-backed securities were the most active product on Tradeweb platforms with an average daily volume of just over $197 billion worth of business and annualized volumes of just under $50.0 trillion. Those gains represented growth of 23.7% year over year.

US government bond trading volumes were also higher than those seen in 2019 by an average of almost $11.0 billion per day. Tradeweb said that turnover in US government bonds, across 2020, was up by 27.50%

US treasury bonds were also much busier than their European counterparts over Tradeweb, with average daily volumes of a little over $91.0 billion in the US securities and just over $26.0 billion in the European paper. Though European government bond volumes on Tradeweb still grew by 21.0% compared to 2019.

In the credit markets, US high-grade trading accounted for more than half of Tradeweb’s average daily turnover of $7.611 billion. The high-quality US debt and obligations turned over 4.12 billion per day.

Once again the US market was far more active than European names which traded just $1.458 billion of average notional value per day across the year. US credit trading grew by 28.0% and European credit by 22.7% when measured against Tradeweb’s 2019 turnover totals.

In the money markets, repos were the busiest product with $259.13 billion of average daily turnover compared to $195.98 billion seen in 2019.

There was also a noticeable boost in the value of ETF deals transacted over Tradeweb. The average daily volume rose to $6.94 billion.

Trading in US ETFs rose by more than $2.0 billion per day when compared to the figures seen in 2019, rising to $4.67 billion from $2.823 billion.

European ETFs were also busier, but only by an additional $500 million per day though that represented growth of more than 20.0% over 2019 volumes.

Electronic trading is taking an increasingly large share of markets that have historically been decentralized, voice-broked, and traded and that trend is only likely to continue.

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