Multi-asset market operator, Tradeweb Markets, has entered into a multi-year partnership with BlackRock to integrate Tradeweb’s credit trading solutions and data into BlackRock’s Aladdin order/execution management system (OEMS).
This partnership, which focuses on corporate, municipal, and emerging market bonds, should deliver an integrated trading experience between Tradeweb and BlackRock, and help users with collaborate across the trade lifecycle. In turn, Tradeweb will should strengthen its credit platform and broaden its network through greater connectivity with the Aladdin platform.
The multi-year roadmap includes a number of features that give clients access to Tradeweb’s services. The first phase of the product roadmap will allow common clients to be able to view Tradeweb’s AiPrice which provides real-time prices for nearly 25,000 corporate bonds on the Aladdin platform.
Chris Bruner, chief product officer at Tradeweb said, “The Aladdin platform provides extensive multi-asset OEMS capabilities, and this integration will provide its users with more efficient access to our suite of protocols. By tapping Tradeweb’s institutional, wholesale and retail liquidity, plus connecting related markets such as Treasuries and ETFs, Aladdin users will reap the benefits of this breadth of liquidity, more choice and an arsenal of innovative trading protocols and products.”
Tradeweb continues to report significant growth across the credit platform, with average daily volume in credit trading globally at Tradeweb averaging more than US$29.7 billion over the first three quarters of 2022.
Kamya Somasundaram, managing director, and a general manager within the Aladdin Business at BlackRock said, “Credit markets have grown increasingly electronic in recent years, but significant opportunities still exist to accelerate this trend through expanding pools of liquidity and developing sophisticated analytics tools and execution workflows. We’re excited to partner with Tradeweb, which has made meaningful strides in this space.”
BlackRock’s Aladdin platform is designed to unify the investment management process by providing a common data language within an organisation to enable scale, provide insights, and support business transformation. Aladdin combines risk analytics with portfolio management, trading, operations, and accounting tools on a single platform for institutional investors.
©Markets Media Europe 2022
