Tradeweb, a leader in building and operating fixed income and derivatives markets, today announced that it is enhancing its rapidly-growing European credit platform with the addition of European high-yield bonds.
The expansion of the multi- dealer-to-customer platform follows a period of intensive growth in trading by asset managers on Tradeweb, resulting in an increase in monthly credit trading volumes of 269% over the last 18 months.
In an era of historically low fixed income returns, institutional investors continue to look to the corporate bond markets - and particularly the high-yield segment - to enhance portfolio returns.
"Investor interest in high-yield bonds has coincided with a boom in issuance over the past two years. It made sense for us to offer clients a more efficient way to invest in these securities," said Rupert Warmington, head of European Credit at Tradeweb.
"We expect another record year for the high-yield bond market if the trend over the first five months continues," said Warmington. "A key driver of this is the lack of issuance from cash- rich investment-grade corporates."
There are 21 dealers providing liquidity for high-yield bonds on Tradeweb's credit platform, which was launched in June 2006.