Tradeweb Launches FX Swap Workflow Solution in Partnership with LSEG's FXall

Tradeweb​ Markets Inc (Tradeweb), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, has joined forces with London Stock Exchange Group (LSEG)'s FXall, leading electronic trading platform for global currency products and the majority stockholder of Tradeweb, to introduce a new solution FX Swap Workflow.

The new offering is a multi-asset digital solution linking trading workflows in local currency EM bonds and FX swaps through a single user interface (UI), which help institutional investors trade Emerging Markets (EM) products more efficiently.

According to the official press release, the FX Swap Workflow solution enbales clients of both firms to buy or sell an EM bond via the Request-for-Quote (RFQ) or Request-for-Market (RFM) protocols on Tradeweb and then seamlessly hedge the local currency risk by executing an FX swap trade via direct connectivity to FXall.

"Facilitating the connection of our EM bond marketplace with FXall’s liquidity pool provides buy-side traders with access to enhanced and efficient local currency EM trading workflows," said Enrico Bruni, Head of Europe and Asia Business, Tradeweb. "Clients trading EM products can now take advantage of markets that are increasingly interlinked, while also benefitting from seamless execution and STP. This latest innovation underpins our commitment to creating solutions that cater to the needs of our EM clients, and help them move risk more efficiently."

"We are excited to provide our customers with an enhanced multi-asset integrated workflow, replacing what used to be either a voice-based process or a sequence of workflows split between different trading desks," said Neill Penney, Group Head of FX, LSEG. "Greater collaboration between LSEG and Tradeweb has enabled us to offer our mutual clients an effective solution in FX Swap Workflow, with all the inherent advantages of electronic trading and our world-class liquidity pools."