Charles River and Tradeweb Expand Multi-Asset Trading Collaboration
September 30, 2019
Boston — September 30, 2019 —Charles River Development, a State Street Company, and Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets today announced an expansion of their collaboration to provide mutual clients with direct access to fixed income inventory and streamlined workflows from the Charles River Investment Management Solution (Charles River IMS).
The collaboration enables institutional and retail investment firms to seamlessly source cross product liquidity available on Tradeweb from the Charles River Inventory Hub and Order and Execution Management System (OEMS) for global fixed income securities.
Enhancing this longstanding collaboration will allow clients to benefit from enriched pre-trade inventory, the certification of new products including the recently launched direct-to-Freddie Mac Exchange path, and integration to support trading of Chinese bonds through the Tradeweb Bond Connect platform.
Additionally, clients will benefit from the connectivity and ongoing advancement of Tradeweb’s award winning cross product Automated Intelligent Execution (AiEX) tool, allowing increased speed-to-market and reduction of both cost and operational risk. Leveraging Tradeweb’s expertise in automated trading, clients can capitalize on new trading opportunities through increased reactivity to market conditions and events, while benefiting from greater speed and efficiency of execution.
The expansion of the Tradeweb partnership is the latest addition to Charles River’s growing ecosystem of trading venues, enabling buy-side clients to access global liquidity using their preferred execution protocols.
“Our growing collaboration with Tradeweb is based on their impressive track record of technological innovation and the breadth and depth of their institutional trading solutions,” said John Plansky, CEO, Charles River. “Expanding that collaboration provides our clients with more transparent, streamlined and intelligent ways to trade efficiently across asset classes and geographies.”
“We welcome the opportunity to expand our relationship with Charles River for the benefit of our mutual buy-side clients,” said Lee Olesky, CEO, Tradeweb. “We remain focused on providing cross asset liquidity to help investors mitigate operational risk, realize greater efficiencies across their trading desks, and gain the benefits of trade automation.”
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 60 countries. On average, Tradeweb facilitated more than $630 billion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.
About Charles River, A State Street Company
Charles River Development, a State Street Company, enables sound and efficient investing across all asset classes. Investment firms in more than 30 countries use Charles River IMS to manage more than US$25 Trillion in assets as of April 2019 in the institutional investment, wealth management and hedge fund industries. Our Software as a Service-based solution (SaaS) is designed to automate and simplify investment management on a single platform – from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 925 employees in 11 regional offices. For more information, please visit www.crd.com.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $32,754 billion in assets under custody and administration and $2,918 billion* in assets under management as of June 30, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36 billion as of June 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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