Tradeweb Launches Innovative Repo & IRS Features

Tradeweb Launches Innovative Repo & IRS Features

Tradeweb Markets has announced the launch of innovative features that bridge its repurchase agreements (repo) and interest rate swap (IRS) product offerings. This move aims to enhance clients’ execution workflows in these markets, particularly amid higher money market volatility due to changing central bank policy expectations.

The new features enable traders to reference overnight index swap (OIS) curves when evaluating fixed-rate repo pricing. Tradeweb provides OIS curves during the repo trade negotiation process, allowing institutional clients to assess price competitiveness across different currencies and maturities. This functionality is available for all GBP, EUR, and USD trades on the Tradeweb repo platform, with OIS spreads generated for each trade, leveraging swap curves on the IRS platform.

Tradeweb Launches Innovative Repo & IRS Features

Additionally, buy-side traders can now manage their interest rate exposure in a fully electronic workflow after executing a long-dated fixed-rate repo transaction on Tradeweb. They can pre-populate a corresponding OIS ticket with their completed repo trade details and send a request-for-quote inquiry to Tradeweb’s extensive network of liquidity providers on its IRS platform.

According to Nicola Danese, Co-Head of International Developed Markets at Tradeweb, “By linking our repo and swaps platforms, we are transforming manual and disconnected processes into efficient digital workflows. Only a multi-asset platform like Tradeweb can interconnect markets in this way, and we are proud to deliver another industry first for our clients.”

Nick Sheffield, Portfolio Manager at Insight Investment, added, “In today’s active rates environment, Tradeweb provides essential information for executing fixed-rate repo transactions. We welcome innovations that support the speed of decision-making and execution processes.”

Tradeweb’s repo platform offers a seamless and efficient end-to-end solution for trading repo across 24 currencies, providing access to liquidity from 47 dealers globally, with an average of 3,300 trades and over $340 billion in notional trading volume per day. Its IRS marketplace has been bringing transparency to swaps trading since 2005.

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