Tradeweb Markets has introduced the next phase of its platform integration with BlackRock’s Aladdin order execution management system (OEMS).
Announced in December 2022, the partnership allows the integration of Tradeweb’s credit trading solutions and data into BlackRock’s Aladdin OEMS.
The first phase allowed common clients to view Tradeweb’s Ai-Price, which provides real-time prices for nearly 25,000 corporate bonds, liquidity score and select dealer axe streams in the Aladdin platform.
Rolling out the next phase, the firms will enable Aladdin users trading US and European credit access to enhanced liquidity through Tradeweb AllTrade — Tradeweb’s network of anonymous liquidity which connects institutional, wholesale and retail market participants.
Tradeweb says the expansion offers users access to new liquidity pools and market sectors including Rematch and Tradeweb Direct, as well as Tradeweb’s network of more than 350 institutional clients on the AllTrade platform.
The firms plan to expand on the partnership by introducing additional phases with new features such as direct access to Tradeweb’s RFQ and Automated Intelligent Execution (AiEX) protocols.
Commenting on the announcement, Elisabeth Kirby, managing director and head of market structure at Tradeweb, says: “Our goal is to facilitate end-to-end credit workflow and allow clients to tap varied sources of liquidity.
“This next phase of our partnership with Aladdin plays to the strength of our all-to-all network, while leveraging the Aladdin platform’s extensive OEMS capabilities and institutional client base to create greater liquidity, connectivity and transparency across our markets.”
Kamya Somasundaram, global head of Aladdin partnerships, adds: “Over the past year, we have had great success in seizing opportunities that provide common clients with more seamless access to liquidity and improved workflow efficiency as credit markets continue to evolve.”
