Tradeweb Authorised As OTF
Tradeweb has received authorisation from the UK’s Financial Conduct Authority (FCA) to operate an Organised Trading Facility (OTF), effective from 3rd January 2018.
On that basis, Tradeweb can offer its clients greater flexibility to choose the type of venue and execution method that suits their needs. It will support the execution of intermediated and discretionary flow and allow clients to discover new liquidity sources and trading opportunities.
The OTF authorisation enhances our MiFID II offering:
· Tradeweb has operated an FCA-regulated MTF since 2007, providing direct access to the highest quality fixed income, derivatives and ETF markets.
· The FCA-authorised Tradeweb APA already has commitments from leading sell-side firms representing an estimated 70+% of OTC non-equity trading volumes.
Comment from Enrico Bruni, Head of Europe and Asia at Tradeweb:
“MiFID II is a great example of regulatory reform paving the way for new business opportunities. Our OTF status will enable us to cater to the varying trade execution needs of our clients across the buy and sell-side.”
MiFID II has raised the bar on best execution.
The number of instruments in the Trax database has expanded to 15 million records.
MiFID II has increased interest in updating fixed income technology.
Esma analysis of $200tn market will assess the impact of MiFID II.
The future can be summed up in three words: virtual high touch.