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Stock impact report

Tradeweb Completes First Fully Electronic Swaption Termination

Tradeweb Markets Inc. - Class A (TW) 
Last tradeweb markets inc. - class a earnings: 2/12 07:00 am Check Earnings Report
Company Research Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Tradeweb Markets, a leading electronic trading platform for rates, credit, equities and money markets, today announced that it completed the industry’s first fully electronic swaption termination. The inaugural transaction took place between Citadel and Wells Fargo on Tradeweb’s Swap Execution Facility (TW SEF), with post-trade processing routed through OSTTRA’s MarkitWire platform.The completion of this electronic transaction, an industry first, expands on Tradeweb’s current swaptions functionalities to address a long-standing industry challenge in the bilateral derivatives market; the ability to efficiently manage and reduce existing swaption positions. Unlike cleared rates products such as swaps, swaptions cannot be easily compressed, meaning positions must be terminated or novated to be fully removed from clients’ books prior to expiry.Troy Dixon, Managing Director, Co-Head of Global Markets at Tradeweb, said: “The completion of this transaction demo Show less Read more
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