01.15.2019

Tradeweb Authorised To Operate from Amsterdam

Tradeweb Markets, a leading global marketplace for electronic fixed income, derivatives and ETF trading, announced that its new legal entity in the Netherlands, Tradeweb EU B.V., has received authorisation from the Dutch Authority for the Financial Markets (AFM) to operate Trading Venues and an Approved Publication Arrangement (APA) from Amsterdam.

The authorisation mirrors Tradeweb’s current regulatory permissions in the United Kingdom, ensuring the firm is positioned to offer the same range of services, products and execution protocols within the EU27 and in the UK, following the latter’s withdrawal from the European Union (Brexit). Firms signing up to the regulated platforms offered by Tradeweb EU B.V. will benefit from a streamlined onboarding process, and, clients will also be able to connect to the new platforms for testing well in advance of March 29, 2019, the expected Brexit date.

“We are pleased to be granted authorised status for the provision of trading and reporting services from Amsterdam,” said Enrico Bruni, head of Europe and Asia business at Tradeweb. “We remain focused on ensuring that our clients continue to benefit from seamless and uninterrupted access to liquidity post- Brexit, which is anticipated to have a profound impact within the financial markets. Helping our clients in the EU to seamlessly on-board to our new regulated platforms quickly and effectively is our top priority, and we are already seeing firms engage early and sign up to the Tradeweb EU MTF.”

Tradeweb established its post-Brexit EU headquarters in Amsterdam last year, in recognition of the city’s robust infrastructure and the Dutch regulator’s long expertise in financial services. The new office acts as the electronic execution venue for Tradeweb’s EEA-based clients, while being an integral part of the firm’s global network, including New York, Chicago, London, Tokyo, Hong Kong, Singapore and Shanghai.

In addition to operating an MTF, an OTF and an APA from London, Tradeweb has regulated status in a number of jurisdictions in Asia-Pacific, including as an Automated Trading Services (ATS) operator in Hong Kong, a Recognised Market Operator (RMO) in Singapore, and an Electronic Trading Platform (ETP) in Japan, where it also holds a Proprietary Trading System (PTS) Operator License. Furthermore, Tradeweb operates two CFTC-regulated Swap Execution Facilities (SEFs) and offers regulated markets through three SEC-registered broker dealers in the US.

Source: Tradeweb Markets

Related articles

  1. Temporary equivalence is set to expire on June 30 2022.

  2. Margins Raised Ahead of Brexit Vote

    IRS trading volumes have fragmented without an equivalence agreement.

  3. Brexit Muddles Future of UK-EU Linkage

    Most EU member states had an increase in bankers earning more than €1m.

  4. A structured home-office work mix can optimize a trading desk's efficiency, Fidelity's Tom Stevenson writes.

  5. Staff will be working from a mix of home and the office.