02.03.2016

Tradeweb Launches U.S.-Listed ETF Platform

02.03.2016

Electronic fixed-income trading-platform operator Tradeweb has added support for over-the-counter trading of U.S.-listed exchange-traded funds.

The new functionality complements Tradeweb’s 2012 launch of European-listed ETF trading and was a customer-driven decision, noted Adam Gould, head of U.S. equities derivatives at Tradeweb. “A lot of different types of asset managers are using them.”

Tradeweb introduced the new functionality via a soft launch a few months ago, and has since taken the platform into full production with 11 liquidity providers.

Adam Gould, Tradeweb

Adam Gould, Tradeweb

Platform users can request quotes from all liquidity providers for comparison with the U.S. equities markets National Best Bid and Offer (NBBO).

The Tradeweb platform stores all trade-related data in perpetuity. Gould explained that clients can access a comprehensive history of any transaction made on the platform, including the ETF price on the exchange, the multiple liquidity providers that offered quotes, and where the ETF eventually traded.

Since its launch, the average trade size for US-listed ETFs on the platform has been 90,000 shares, according to Gould.

“We have trades that are smaller and ones that are substantially larger,” Gould told Markets Media. “It’s driven by how liquid the ETF is on the screen, how easy it is to hedge the underlying benchmark index and how much it trades in a given day.”

Although Tradeweb’s historical clients have been fixed-income money managers, only slightly over half of the platform’s transaction have been fixed-income ETFs while the rest of the trades have been in equities- and commodities-based ETFs.

Tradeweb plans to target the new functionality to a mix of European customers who want to trade US-listed ETFs, Tradeweb’s historic long-only asset managers, hedge funds, registered investment advisors, and ETF funds of funds.

Featured image via Comugnero Silvana/Dollar Photo Club

Celebrating women shaping European finance
European Women in Finance Awards deadline is Aug 23
#WomeninFinance #Finance #WIF
Nominate here: https://www.jotform.com/form/250276204100339

As Cboe Data Vantage scales globally, Adam Inzirillo discusses our APAC expansion, plans to launch dedicated cores in Canada and preparation for 24×5 U.S. equities trading, pending regulatory approval – full story in @marketsmedia: https://bit.ly/4kQx3mC

Load More

Related articles

  1. ICE is using its mortgage data to increase transparency in the secondary capital markets.

  2. The inaugural trade was between BlackRock and Standard Chartered.

  3. Blocks of credit have historically been resistant to electronic trading.

  4. Esma Urged to Open Up Trade Reporting Data

    The firm also reported a record $2tr in total rates volume.

  5. Electronic trading remained sticky through market turbulence.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA