Tradeweb Introduces Three-Way Trade Confirmation on U.S. Tri-Party Repo Trading Platform

Tradeweb Markets has introduced three-way trade confirmation functionality on its institutional client-to-dealer U.S. tri-party repo trading platform, allowing clients to match trades at BNY Mellon and J.P. Morgan via its platform.

The functionality allows all parties to a three-way trade to confirm transactions with each other prior to executing the trade. It is designed to reduce intraday credit risk at the clearing banks in response concerns raised by the Federal Reserve Bank of New York's Tri-Party Repo Infrastructure Task Force. "This enhancement helps increase efficiency in the repo market and represents another example of how targeted industry efforts are leading to greater confidence and transparency in the market overall," John Morik managing director at BNY Mellon, commented.

Tradeweb now allows clients to electronically negotiate, execute, confirm, and allocate trades to dealers and clearing banks in real-time. In addition, it allows all tri-party repo trades, including those done via telephone, to be entered into the Tradeweb platform and then have the information transmitted directly to clearing banks. The Tradeweb U.S. tri-party repo platform was launched in 2005 and is one of 22 electronic fixed income and derivatives marketplaces that Tradeweb operates for 2,000 institutional clients globally.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio