Boerse Stuttgart, Germany's leading exchange for corporate bonds and Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, today announced their collaboration to integrate Tradeweb’s live streaming prices for US corporate bonds on Boerse Stuttgart’s bond order book.
This collaboration will provide investors with enhanced access to liquidity by leveraging Tradeweb’s US odd-lot bond pricing. This additional liquidity increases quotation quality and depth within the hybrid market model of Boerse Stuttgart. It also should enable buyers and sellers of US dollar denominated bonds to reach a better execution rate, while reducing their execution costs.
For this link of liquidity to Boerse Stuttgart’s FX-Bond segment called FXplus (MIC: XSTF), Tradeweb will provide live pricing streams to the flexible sell-side interface of Boerse Stuttgart. FXplus allows non-EUR trades to settle directly in the respective trading currency, without conversion into EUR. Investors who want to buy US dollar denominated bonds on Boerse Stuttgart’s established EUR platform (MIC: XSTU) also benefit from the Quality Liquidity Provider EUWAX AG in Boerse Stuttgart’s hybrid market model, which will synchronize the liquidity between both platforms. The cooperation between Tradeweb and Boerse Stuttgart in bond trading is expected to be continually expanded.
"Tradeweb`s internationally established offering for professional clients, as well as its core competence in the US dollar bond market fits perfectly with Boerse Stuttgart’s orientation towards retail investors and smaller sized liquidity of semi-professional clients. Both partners can link their bond expertise and liquidity pools via this liquidity bridge and generate new added value for their customers", says Michael Görgens, Managing Director Fixed Income and eSales at Boerse Stuttgart. "This expansion of our international network to the highly liquid US dollar corporate bond market contributes significantly to improved price quality and reliable order execution.“
“The integration of Tradeweb’s live streaming prices within the Boerse Stuttgart offering is an important step in connecting investors with the technology and tools they need to efficiently transact bonds,” said John Cahalane, Managing Director at Tradeweb. “In today’s markets, there continues to be growing investor interest in the search for deep liquidity and a robust platform that gives clients the flexibility and choice they need to conduct their business.”
As the German market leader in exchange trading of corporate and emerging market bonds, Boerse Stuttgart ensures maximum price and execution quality with its hybrid market model in almost 20.000 tradable bonds. Tradeweb’s users gain access to an active market place of over 18,000 trades executed daily by over 4,000 firms and 200+ broker dealers.