Tradeweb has collaborated with S&P Global Market Intelligence to introduce electronic connectivity between primary and secondary markets in Europe.
The product scope currently includes European credit, covered, sovereign, supranational and agency (SSA) bonds.
Tradeweb’s integration of InvestorAccess — S&P Global Market Intelligence’s digital primary market platform — enables Tradeweb clients to electronically access new deals and manage orders in the primary market via the Tradeweb platform.
InvestorAccess addresses challenges inherent to the issuance of new deals by automating what traditionally were manual processes for accessing deal terms, as well as communicating orders and allocations.
By integrating InvestorAccess into Tradeweb’s European fixed-income marketplace, Tradeweb clients can better leverage a full suite of electronic trading tools during and immediately after issuance.
Tradeweb will be able to process structured deal terms communicated by the syndicate desk via the S&P Global Market Intelligence’s Deal Services API. This will lead to a faster set up of securities and facilitate quicker access to electronic secondary liquidity via Tradeweb.
Commenting on the collaboration, head of Europe and Asia business at Tradeweb Enrico Bruni says: “Launching a single consolidated workflow for primary and secondary markets is a natural evolution for our European fixed-income offering.
“Our collaboration with S&P Global Market Intelligence will accelerate the automation of manual steps across primary workflows for our mutual clients, resulting in a more immediate and seamless transition from primary issuance through to secondary trading.”
Chris Sztam, head of Global Markets Group at S&P Global Market Intelligence, adds: “S&P Global Market Intelligence brings greater efficiency to the primary market by connecting InvestorAccess electronically with Tradeweb.
“Buy-side traders using Tradeweb are now able to send orders electronically into the order book being managed by the syndicate banks and receive allocations electronically back into Tradeweb for onward processing in their order management system (OMS), significantly streamlining the transition from primary to secondary.”
