Tradeweb, a leading provider of on-line markets to institutional investors and dealers, announced today that it has added Japanese Government Bond (JGB) trading to the Tradeweb platform.
JGBs complement Tradeweb's Yen Swap marketplace, launched earlier this year, and are an important and logical expansion of its government bond franchise, which includes US Treasuries, Euro-denominated and Scandinavian Government Bonds, and UK Gilts.
Leading global dealers Citi, Deutsche Bank, J.P. Morgan, RBS and UBS are providing liquidity initially during extended Asian trading hours (9.00 AM to 6.00 PM JST). This enables Tradeweb clients in Japan and around the world to trade JGBs more efficiently and to see real-time, indicative price information. Other advantages include the ability to request a price quote from up to five dealers at the same time - helping clients to meet compliance obligations quickly and easily, a complete audit trail, and a full straight-through processing solution to reduce operational risk.
"The liquidity from our supporting dealers enables us to offer very accurate JGB market data for trading and risk management. This added price transparency should encourage Japanese and foreign investors to trade JGBs electronically," said Jesper Bruun-Olsen, Managing Director of Tradeweb's Asian operations. "Global participation in local markets is especially valuable as debt issuance is set to increase," he continued.
"Yen-denominated markets are among the largest in the world. Our Tokyo-based data hub has enabled us to expand our fixed income and derivatives offering to include Japanese products to clients in the region and around the world," said Lee Olesky, Chief Executive Officer of Tradeweb.
"Tradeweb provides a valuable global distribution network that will highlight the attractiveness of yen-denominated products to institutional clients around the world," said Jason Evans, Managing Director, Head of Core Rates Trading Japan at Deutsche Bank.
"J.P. Morgan values its partnership with Tradeweb for the electronic trading of a growing number of financial products. JGBs are yet another example of how they help us provide world-class liquidity, transparency and straight-though processing for our customers," stated Ville Vaataja and Bill Cikin, Managing Directors and Co-Heads of Yen Rates Trading at J.P. Morgan.