Tradeweb Launches Electronic Trading for Active US Treasury Bonds

Beta testing of the platform began in the first quarter of 2014, with daily trading volume growing to more than $11 billion per day and electronic daily volume regularly exceeding $30 billion. The average number of daily trades has also increased 140 percent, from 720 in February to more than 1,750 in May.

The new offering expands from the off-the-run bonds available on the platform since October 2011. Billy Hult, Tradeweb president, says the update is a response to "open questions" about the long-term feasibility of current market structure.

“Dealerweb is providing a competitive solution that offers a balanced ecosystem, bringing our dealer and electronic market making clients together in a more transparent and efficient market, resulting in better access to liquidity,” Hult says.

Isaac Chang, global head of fixed income at electronic market maker and Dealerweb participant KCG, adds, “The new platform provides a very interesting value proposition for on-the-run treasury market participants. We believe that increased transparency leads to a more efficient and effective market for risk transfer.”