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The European Central Bank (ECB) has awarded contracts to Bloomberg and Tradeweb Markets Inc. for the provision of Electronic Trading Platforms (ETPs) to the ECB and other Eurosystem National Central Banks (NCBs).
Bloomberg has been awarded three framework agreements covering the provision of ETPs for trading in Euro, U.S. Dollar (USD), and Japanese Yen (JPY) denominated government bonds, as well as USD and JPY Interest Rate Swaps (IRS) and Futures contracts. Nicholas Bean, Global Head of Electronic Trading Solutions at Bloomberg, said, "We are pleased to have been awarded these contracts. We are committed to providing the ECB and NCBs with access to our deep pools of liquidity, innovative trade execution protocols and robust trading infrastructure."
Trades will take place on BTFE, Bloomberg's Netherlands-based Multilateral Trading Facility (MTF), and futures trading will be supported by Bloomberg Tradebook ISV and EMSX, Bloomberg's multi-asset execution management system. Bloomberg Electronic Trading Solutions (ETS) are used by more than 9,000 client firms to access liquidity across asset classes from over 700 dealers globally.
Tradeweb, a leading global operator of electronic marketplaces, has been awarded two framework agreements covering the provision of ETPs for trading various instruments, including EUR-denominated bonds, U.S. Treasuries, Japanese government bonds, USD- and EUR-denominated supranationals, sovereign and agency (SSA) bonds, and USD- and JPY-denominated interest rate swaps. The contracts have a term of four years with the option to extend twice for an additional two years. Tradeweb also won a similar tender to supply ETPs to the ECB in 2015.
Tradeweb Markets CEO Billy Hult expressed gratitude for the opportunity, stating, "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, founded in 1996, serves more than 2,500 clients in over 70 countries and facilitates an average of more than $1.4 trillion in notional value traded per day. The company's advanced technologies enhance price discovery, order execution, and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations.
