17 October 2017
New York
Reporter: Jenna Lomax

Tradeweb launches first electronic swaption trade on TW SEF


Tradeweb has executed the first fully-electronic swaption trade on its TW SEF derivatives trading platform.

The trade, which was executed by asset management firm, Garda Capital, and processed through MarketWire, officially marked the launch of swaptions trading on the TW SEF.

According to Tradeweb, TW SEF provides market participants with flexibility to trade interest rate swaps and credit default swaps in a request-based market.

The trade comes after Tradeweb was chosen by the UK Financial Conduct Authority to be an approved publication arrangement back in September.

This decision means the solution provider can now publish post-trade transparency reports on behalf of clients to help them meet their reporting obligations under the second Markets in Financial Instruments Directive.

Tradeweb said: “This addition is going to make price discovery more streamlined, efficient, and transparent.”

“And because of the request for quotes technology and recency, frequency, monetary functionality in use for this new offering, users will continue to be able to request two-way markets and avoid information leakage on the direction of their trade.”

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