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Foreign Exchange

Tradeweb enters FX market with options platform

Tradeweb, the fixed-income and derivatives trading platform, has expanded into the currency markets with the launch of it Tradeweb FX platform.

The platform will operate on a request-for-quote and fully disclosed basis, with seven leading options market makers already providing liquidity to the market place. Tradeweb declined to name those banks. The platform went live in December, though the company does not disclose trading volumes.

Users of the platform are able to trade outright plain vanilla options or multi-leg strategies on a live or delta-exchange basis. It’s the fourth derivatives platform the company has launched since 2005 and, according to Enrico Bruni, head of European markets at Tradeweb, it has allowed it to apply its existing technology to what is a new market for the company.

Tradeweb offers 23 different products across its electronic platform, including US Treasuries and mortgages, money market products, European and Japanese government debt and interest rate products. It currently has 2000 active users, made up primarily of real money and mutual fund clients.

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