BlackRock Partners with Tradeweb, Broadens Bond Market Offering

Tradeweb Markets, a NASDAQ-listed operator of electronic marketplaces for rates, credit, equities and money markets, announced a partnership with BlackRock today. Aladdin, BlackRock's order execution management system (OEM), will integrate credit data and trading solutions provided by Tradeweb.

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The multi-year agreement includes several phases of development. In the first phase, BlackRock will allow common customers to use Tradeweb's AiPrice, a real-price data tool providing access to 25,000 corporate bonds.

The latest agreement is centered around the emerging, municipal and corporate bond markets and is expected to provide an integrated trading experience between the BlackRock and Tradeweb platforms. Tradeweb will expand its network reach through access to Aladdin.

“The Aladdin platform provides extensive multi-asset OEMS capabilities, and this integration will provide its users with more efficient access to our suite of protocols. By tapping Tradeweb's institutional, wholesale and retail liquidity, plus connecting related markets such as Treasuries and ETFs, Aladdin users will reap the benefits of this breadth of liquidity, more choice and an arsenal of innovative trading protocols and products,” Chris Bruner, the Chief Product Officer at Tradeweb, said.

Tradeweb Sees Rapid Growth of Credit Trading

During the first nine months of 2022, Tradweb reported average daily volumes (ADVs) in the global credit trading market of $29.7 billion. Over the past five years, the company's share of the fully electronic U.S. High-Grade TRACE has increased sixfold to 13.9% in the third quarter of 2022.

Tradeweb's credit market offering is currently used by more than 1,100 clients, trading emerging market bonds, corporate bonds and credit derivatives. The company continues to expand its offerings in the United States, Europe and emerging markets.

The NASDAQ-listed electronic marketplaces operator informed on Monday that it generated a turnover of $23.2 trillion in November 2022. It translates to a 9% increase in volume compared to the previous month. In the credit market, the ADV rose by 4.5% on a monthly basis to $4.6 billion.