Tradeweb Introduces Trade at Close Functionality to Expand Portfolio Trading

Tradeweb Markets, a leading international operator of electronic marketplaces for rates, credit, equities, and money markets, announced yesterday that it has introduced Trade at Close functionality for electronic portfolio trading.

According to an official announcement, Tradeweb’s European and the US-based clients are now able to electronically execute portfolio trades at end-of-day prices. The recently introduced functionality will enable efficient trade management.

The operator began rolling out Trade at Close functionality in July this year. According to Tradeweb, the latest surge in passive investing and bond ETFs has increased the need for innovation in electronic portfolio trading.

Commenting on the latest announcement, Chris Bruner, Managing Director and Head of US Institutional Fixed Income at Tradeweb, said: “As passive investment trends fuel interest in fixed income ETFs, the ability to electronically trade a portfolio of bonds at a single closing price has never been more important. Portfolio trading provides clients with surety of execution, the ability to transfer very significant risk, and protection from information leakage, and expanding its functionality further to incorporate end-of-day trading will help more of our clients digitize some of their largest trades.”

In the latest press release, Tradeweb mentioned that the recent functionality will open several opportunities for investors. The operator expanded its services significantly in 2021. As a result, its financial results also showed impressive growth during the first two quarters. In Q2, Tradeweb Markets reported a 23% jump in revenues.

Electronic Portfolio Trading

Founded in 1996, Tradeweb is one of the most popular destinations for global credit trading. The operator highlighted significant growth in its share of U.S. Investment Grade TRACE during the last few months. “We’ve collaborated with our clients all the way through our design and launch of portfolio trading, and this has informed so many of our successive enhancements to the protocol, from the introduction of competitive quoting in October 2019 to trading at the close. We have a robust roadmap ahead of us, and are excited to adapt our technology further as we approach the new year,” Ted Husveth, Managing Director of US Credit at Tradeweb, said.

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