Tradeweb, the world's leading operator of electronic marketplaces for various financial sectors, including rates, equities, and money markets, has announced a new market data licensing agreement with LSEG. Further, this strategic partnership aims to make high-quality market data more accessible and foster more efficient markets.

Under this new agreement, Tradeweb will distribute market data through LSEG's Enterprise Data Solutions and Workspace. Additionally, the two-year deal represents a mutual commitment to enhancing market data and providing greater flexibility for future growth, Tradeweb said.

Fostering Growth Strategy in Market Data

Enrico Bruni, the Managing Director and member of the Tradeweb Executive Committee stated: "This new licensing agreement builds upon Tradeweb's longstanding relationship with LSEG, enabling us to easily collaborate on new use cases and providing greater flexibility to further our growth strategy in market data."

This new licensing agreement, effective from November 1, 2023, replaces an existing agreement that dates back to 2010. Moreover, LSEG will continue to distribute Tradeweb's data directly to its customers through various financial platforms, such as Datascope, LSEG Pricing Service, and Tick History.

These data sets distributed by both LSEG and Tradeweb encompass a wide range of financial instruments and markets. This includes Emerging Market Interest Rate Swaps, European Convertibles, Bond Benchmark Closing Prices, AiPrice data sets, Tradeweb's iNav Premium data, and MIFID non-delayed data.

Tradeweb's Strategic Expansion

Tradeweb has been steadily expanding its products and services through strategic partnerships. In May, it joined forces with Bloomberg and MarketAxess to establish a fixed-income Consolidated Tape Provider (CTP) in the European Union. This initiative aims to provide a consolidated tape that collects and publishes comprehensive data for trades in financial instruments.

Not only is the creation of a fixed-income CTP in the EU a strategic business move, but it also aligns with regulatory demands. In Europe, the EU requires that CTPs provide data for all trades within the jurisdiction, irrespective of their origin.

Besides that, Tradeweb confirmed the all-cash acquisition of Yieldbroker, a trading platform offering Australian and New Zealand government bonds and interest rate derivatives, for AU$125 million (US$ 81.6 million). Furthermore, the deal, which has been in advanced talks, is set to close by the end of this year, Finance Magnates reported.