Tradeweb Announces the Completion of Its First Southbound Bond Connect Transactions

The online fixed income trading platform Tradeweb Markets announced that it has completed its first Southbound Bond Connect transactions via the trading link between Tradeweb and China Foreign Exchange Trade System (CFETS).

In 2017, Tradeweb was selected as the first trading link to the Northbound leg of Bond Connect, having played a positive role in the initiative’s design, creation and development. Under Southbound Bond Connect, Tradeweb supports transactions of various bonds tradable in the Hong Kong bond market denominated in CNH, HKD, EUR, GBP and USD. 

Southbound Bond Connect facilitates fixed income portfolio diversification for institutional investors in China. Tradeweb collaborates closely with CFETS to create a uniform trading experience for both offshore and onshore institutions via the electronic request-for-quote (RFQ) workflow.

“Southbound Bond Connect is the latest evolutionary step for China’s financial market, providing domestic investors with more flexibility and choice when trading offshore bonds,” said Lee Olesky, CEO of Tradeweb Markets. “Together with CFETS, our goal is to better meet onshore investors’ demand for streamlined access to global investment.”

“We were the first platform to facilitate Northbound trading on Bond Connect more than four years ago, and we are here again on Day One of Southbound trading,”James Sun, Head of Asia at Tradeweb, said.”Today’s launch offers onshore investors enhanced access to overseas liquidity, pre-trade transparency and innovative trading mechanisms on Southbound Bond Connect.”