About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Tradeweb Partners with LSEG’s FXall to Launch FX Swap Workflow Solution for Emerging Markets Bonds

Subscribe to our newsletter

Tradeweb Markets Inc., the electronic marketplace operator for rates, credit, equities and money markets, has launched FX Swap Workflow, a multi-asset solution designed to streamline the trading of Emerging Markets (EM) products for institutional investors. The product, developed in collaboration with LSEG’s electronic global currency platform, FXall, integrates trading workflows for local currency EM bonds and FX swaps within a unified user interface.

The FX Swap Workflow solution offers Tradeweb and FXall’s mutual clients the ability to purchase or sell an EM bond using the Request-for-Quote (RFQ) or Request-for-Market (RFM) protocols on Tradeweb, and to hedge the local currency risk by executing an FX swap trade through a direct link to FXall. By allowing clients to request prices from multiple dealers concurrently for both legs of the transaction, the solution aims to enhance real-time transparency and provide evidence of best execution, with STP integration further assisting automation and efficiency.

Enrico Bruni, Tradeweb’s Head of Europe and Asia Business, said: “Facilitating the connection of our EM bond marketplace with FXall’s liquidity pool provides buy-side traders with access to enhanced and efficient local currency EM trading workflows. Clients trading EM products can now leverage markets that are increasingly interconnected, while also benefitting from seamless execution and STP.”

Neill Penney, Group Head of FX at LSEG, added: “Greater collaboration between LSEG and Tradeweb has enabled us to offer our mutual clients an effective solution in FX Swap Workflow, with all the inherent advantages of electronic trading and our world-class liquidity pools.”

Liquidity for the inaugural transaction using FX Swap Workflow was provided by Morgan Stanley. Volkan Dikmen, Managing Director at Morgan Stanley, commented: “We are supportive of new initiatives that help markets evolve and become more streamlined, so we are proud to provide liquidity for the first-ever trade bringing together EM bond and FX swap markets.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Trade the Middle East & North Africa: Connectivity, Data Systems & Processes

In Partnership With As key states across the region seek alternatives to the fossil fuel industries that have driven their economies for decades, pioneering financial centres are emerging in Egypt, United Arab Emirates (UAE), Saudi Arabia and beyond. Exchanges and market intermediaries trading in these centres are adopting cutting-edge technologies to cater to the growing...

BLOG

Sequitor Partners with LSEG to Offer Simulation Service Using LSEG PCAP Data

Sequitor Engineering, the simulation service provider for electronic financial markets, has formed a partnership with the London Stock Exchange Group (LSEG) to jointly offer its simulation services alongside LSEG’s PCAP (packet capture) data. This collaboration enables Sequitor’s clients to run highly realistic simulations using native wire-format market tick data, captured directly at LSEG’s exchange data...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Institutional Digital Assets Handbook 2024

Despite the setback of the FTX collapse, institutional interest in digital assets has grown markedly in the past 12 months, with firms of all sizes now acknowledging participation in some form. While as recently as a year ago, institutional trading firms were taking a cautious stance toward their use, the acceptance of tokenisation, stablecoins, and...