Tradeweb has secured authorisation from the UK’s Financial Conduct Authority (FCA) to operate an Organised Trading Facility (OTF), effective from 3 January 2018.
Tradeweb will be able to 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.
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-plus per cent of OTC non-equity trading volumes.
Enrico Bruni (pictured), Head of Europe and Asia at Tradeweb, says: “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.”