Multi-asset market operator, Tradeweb Markets, has collaborated with FTSE Russell to launch benchmark closing prices for European government bonds.
Calculated in accordance with the EU Benchmark Regulation, Tradeweb FTSE Euro Government Bond Closing Prices are available from Tradeweb and provide end-of-day reference prices for Euro-denominated nominal bonds issued by Austria, Belgium, Finland, European Union, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal and Spain. Tradeweb is the calculation agent and FTSE Russell is the benchmark administrator for Tradeweb FTSE Euro Government Bond Closing Prices.
Tradeweb calculates the closing prices based on data from its dealer-to-client trading platform. Tradeweb FTSE Euro Government Bond Closing Prices follow the same calculation methodology as Tradeweb’s established UK Benchmark Regulation prices for UK Gilts, which are produced in accordance with the IOSCO Principles for Financial Benchmarks. Reliable reference price data is critical for financial firms to manage investment portfolios, to evaluate the fair value of securities, perform compliance and satisfy general accounting standards.
“With bond indices, ETFs and trade-at-close strategies becoming more and more integral to fixed income markets, the need for reliable and transparent closing price data has never been greater,” said Enrico Bruni, head of Europe and Asia business at Tradeweb. “FTSE Russell is a global leader in benchmarking and we look forward to extending our successful collaboration to other global markets going forward.”
“Having a robust and transparent methodology, that is administered according to IOSCO Principles for Financial Benchmarks, is core to providing credible reference pricing,” said Scott Harman, global head of fixed income and multi-asset indices at FTSE Russell. “As a leading electronic trading platform for European government bonds, Tradeweb has a strong understanding of these markets and the important role this data plays across bonds, ETFs and indices.”
A record US$42.4 billion in average daily volume (ADV) was reportedly executed on Tradeweb’s European Government Bond platform in Q1 2023, up 12% from Q1 2022.
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