Tradeweb Secures Contracts to Supply Electronic Trading Platforms to ECB

Tradeweb Markets Inc. (Tradeweb), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, announced on Tuesday (April 2) that it has been awarded two framework agreements (the 'contracts') to provide Electronic Trading Platforms (ETPs) to the European Central Bank (ECB) and other Eurosystem National Central Banks (NCBs), after successfully participating in the procurement procedure organized by the ECB. Tradeweb also won the tender to supply ETPs to the ECB in 2015, when the central bank last conducted a similar bid process.

Specifically, Tradeweb has been awarded two framework agreements covering the provision of ETPs for trading: EUR-denominated bonds, including European government bonds, covered bonds, corporate bonds, repo, deposits and certificates of deposits; U.S. Treasuries; Japanese government bonds; USD- and EUR-denominated SSA (supranationals, sovereign and agency) bonds; and USD- and JPY-denominated interest rate swaps. The term of the contracts is four years with the option to extend twice for an additional two years.

Billy Hult, CEO of Tradeweb Markets, said: "We are grateful for the opportunity to provide trading services and solutions to the European Central Bank for another term. We remain focused on continuing to collaborate with the ECB, while enhancing the trading experience for central bank and sovereign wealth fund clients across our platform."

Tradeweb has experienced significant growth in recent years, as evident from its latest annual trading report released in February​. For the full year 2023, the company reported the average daily volume (ADV) of $1.4 trillion, an increase of 27.56% on a year-on-year basis. Of particular note was the robust growth displayed across its rates, equities, and money markets, with all of them demonstrating double-digit increases in their ADV.