Tradeweb has partnered with LSEG FXall, an electronic platform for global currency products, to launch FX Swap Workflow.
The new multi-asset solution is designed to make the trading of emerging markets (EM) products more efficient for institutional investors. Through a single user interface, it links trading workflows in local currency EM bonds and FX swaps.
Using the solution, clients are able to buy or sell EM bonds through Tradeweb’s request-for-quote and request-for-market protocols. Connecting to FXall, they are then able to execute an FX swap trade and hedge local currency risk.
During both parts of the transaction, prices can be requested from multiple dealers simultaneously.
Enrico Bruni, head of Europe and Asia business at Tradeweb, says: “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 workflow.
“Clients trading EM products can now take advantage of markets that are increasingly interlinked, while also benefiting from seamless execution and straight-through processing.”
Neill Penney, group head of FX at LSEG, comments: “We are [providing] 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.
“Greater collaboration between LSEG and Tradeweb has enabled us to offer our mutual clients FX Swap Workflow, with all the inherent advantages of electronic trading and our liquidity pools.”
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