TradeWeb, the online fixed-income trading platform, says Danish and Swedish government bonds traded successfully on the system for the first time last week.
On its first day of trading on 28 October, TradeWeb received trade enquiries exceeding 2 billion in local currency. Moreover, in the first four days of trading, Scandinavian volumes reached more than Euros 700 million equivalent. Notably, says TradeWeb, the first Scandinavian bond traded over TradeWeb, was completed only 47 seconds after its trading debut.
To provide liquidity, TradeWeb has secured the majority of dealers in Scandinavian government bonds, of which 11 are supporting the Danish market, and six supporting its Swedish equivalent. TradeWeb says its expects more dealers to join in the coming months. TradeWeb has over 60 institutional investors based in the Scandinavian region.
This latest development in TradeWeb’s Scandinavian operations follows the addition of Nordea, SEB, Svenska Handelsbanken and Danske Bank as market makers on TradeWeb’s European trading platform for European Government bonds in the last year, boosting the total number of TradeWeb market makers to 24.
*The successful debut of Danish and Swedish government bonds, following the addition of Scandinavia*s leading institutions to TradeWeb’s electronic platform, reflects our continuing commitment to the Scandinavian region and to the expansion of our products globally,” says Lee Olesky, President of TradeWeb. “TradeWeb is providing more than simply an electronic means of trading in Scandinavian government debt, it is building a deep, liquid marketplace that can be easily and efficiently accessed by our customers around the world.”