Tradeweb Aladdin Integration

Tradeweb and Aladdin Deepen Integration, Boosting Liquidity!

Tradeweb Markets Inc. has announced the next phase of its platform integration with BlackRock’s Aladdin order execution management system (OEMS). The collaborative effort aims to provide enhanced liquidity and streamline access to credit markets for Aladdin users.

The partnership between Tradeweb and Aladdin has entered a new stage, enabling Aladdin users trading U.S. and European Credit to benefit from improved liquidity through Tradeweb AllTrade. Tradeweb AllTrade, a network of anonymous liquidity, connects thousands of participants across institutional, wholesale, and retail markets.

The expanded integration now also grants Aladdin users trading via Tradeweb AllTrade access to diversified liquidity pools and market sectors. Notable additions include Rematch, offering access to billions of unmatched risk from Tradeweb’s Dealer Sweep; Tradeweb Direct, the retail platform providing live executable credit streams in 26,000 securities daily; and Tradeweb’s extensive network of over 350 institutional clients participating in the AllTrade network.

Tradeweb AllTrade has demonstrated its significance, constituting 32% of in-comp RFQ for High-Grade credit and 44% for high-yield credit year-to-date through November. Since its launch in 2017, institutional all-to-all trading has grown to represent nearly 28% of RFQ electronic volume.

Tradeweb and Aladdin Deepen Integration, Boosting Liquidity in Credit Markets

Elisabeth Kirby, Managing Director and Head of Market Structure at Tradeweb expressed the company’s commitment to facilitating end-to-end credit workflows, allowing clients to access diverse sources of liquidity. She highlighted the strength of their comprehensive all-to-all network and emphasized leveraging the Aladdin platform’s extensive OEMS capabilities and broad institutional client base to enhance liquidity, connectivity, and transparency across markets.

Kamya Somasundaram, Global Head of Aladdin Partnerships, expressed excitement about the progress made in the multi-year partnership with Tradeweb. The collaboration has successfully provided common clients with seamless access to liquidity and improved workflow efficiency amid the evolving credit markets.

The Tradeweb and BlackRock partnership, announced in December 2022, initially allowed clients to view Tradeweb’s Ai-Price, Liquidity Score, and select dealer axe streams on the Aladdin platform. The ongoing collaboration plans to introduce additional phases with features like direct access to Tradeweb’s RFQ and Automated Intelligent Execution (AiEX) protocols, further enhancing the overall trading experience for their clientele.

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