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Tradeweb Markets announces Bond Connect platform

First Published 26th June 2017

Eligible Tradeweb Markets investors will be able to trade directly with Mainland Chinese liquidity providers in the CFETS market.

Lee Olesky, Tradeweb Markets

Lee Olesky, Tradeweb Markets

New York - Tradeweb Markets,the provider of electronic fixed income, derivatives and ETF trading, has announced that it is the first offshore trading platform to connect with China Foreign Exchange Trade System (CFETS), to become a trading interface for offshore investors to access Bond Connect.

The People's Bank of China and the Hong Kong Monetary Authority (HKMA) on 16 May announced Bond Connect, which will enable investors in Mainland China and overseas to trade bonds in each other's markets. Northbound Trading will commence first in the initial phase, i.e. overseas investors will be able to invest in the China Interbank Bond Market (CIBM). Tradeweb is the first trading platform to offer a gateway for this initiative, which looks to help further open China's domestic bond market, the third largest bond market in the world.

"We are pleased to be the first trading platform to link to Bond Connect, an offering leveraging the familiar practices already used by foreign investors through Tradeweb across other market places," said Lee Olesky, CEO of Tradeweb Markets. "We believe the liberalization of the Chinese bond market is a landmark event, and Tradeweb is excited to be acting as the first access link for this initiative. Given the strength of our investor network of over 2,000 clients globally, we are well positioned to help the evolution of this market."

"The Bond Connect program leverages the expertise HKEX has had as a global exchange leader and Tradeweb's experience as the global industry leader in driving flexible, electronic solutions for fixed income trading," HKEX Chief Executive Charles Li said. "The extension of the Connect family furthers the goal to connect China's financial market with the world. Tradeweb's deep fixed income experience and global client network are key to helping meet the Bond Connect objectives."