Mostly… fixed income and cross product eTrading

December 27, 2007

Tradeweb cash equity trading

Filed under: 2015, etrading — holky @ 11:40 am

Thomson TradeWeb, the dominant fixed-income electronic trading platform, plans to broaden its reach to cash equities in the second half of 2008. So says traders magazine.

A cash-equities trading platform is anticipated for the latter half of next year, with equity options after that. Toffey said TradeWeb could build an upstairs equities block trading platform. An electronic communications network is less likely, he added, although he didn’t rule it out.

“Bringing the equities business under the TradeWeb organization gives us focus and expertise to build out the transaction side,” Toffey said, referring to the trading of equities, compared with routing and the current AutEx indications product. “It’s ultimately about having liquidity. We’ll work with dealers and the buyside to help put the [fragmented] market back together.”

TradeWeb will also make AutEx, its indications-of-interest and trade-advertisements product, more electronic and executable. This overhauled product, as well as any other TradeWeb trading platforms, could use the firm’s FIX-based routing network. The network, which has 7,000 connections and handles more than 15 percent of U.S. volume in traded equities, will be renamed TradeWeb Order Routing Network.

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6 Comments »

  1. Seems very, very ambitious to me. With the Reuters-Thomson thing happening in 2008 I’d wager other matters getting in the way….regardless of TradeWeb’s independence.

    Comment by waratah — January 17, 2008 @ 2:21 pm

  2. How tricky for Autex to start to carry fixed income order flow? Then use the Autex guys to explain equities to Tradeweb and use Tradeweb guys to explain fixed income to Autex.

    They could build a “connected-by-design” competitor to the likes of CRD and LZ. If they have the balls and will run the project out of Europe. I just hope they don’t build a US only system and then try and internationalise it – that’s a recipe for disaster….

    Comment by John Greenan — January 18, 2008 @ 2:13 pm

  3. AUTEX has Fixed Income flow? If this is true can you tell me where I can find this data? I don’t think this can be true? What FI customer would consent to their TW flows info going out over Autex?

    Comment by Lacidar — January 20, 2008 @ 12:38 am

  4. I don’t think there would be a massive issue in send FI FIX flow over Thomson Order Routing,(without being pedantic AutEx is now the branding for IOIs I think), Tradeweb already have a FIX4.2 spec that can used.

    I don’t really understand what the point of an equity tradeweb service would be, another MTF? Didn’t Thomson try and fit an equity trading app into Thomson One?

    Comment by oxymoron — January 26, 2008 @ 7:17 pm

  5. […] Tradeweb cash equity trading […]

    Pingback by Mostly… — January 29, 2008 @ 12:40 pm

  6. […] So following on from one thread in the tradeweb discussion, actionable IoIs are the subject of this traders magazine […]

    Pingback by Actionable IoIs « Mostly… — February 5, 2008 @ 2:31 pm


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