Tradeweb

Tradeweb is a leading over-the-counter, multi-asset class online marketplace, and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income, derivative, and equity markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. With its expansion into the equity markets, Tradeweb is leveraging AutEx, the industry leader for 40 years in providing indications of interests, and Tradeweb Routing Network, a global FIX network with more than 7,000 connections to over 750 firms. Tradeweb is owned by Thomson Reuters and nine leading global dealers.

Trading Metrics

The Trading Metrics software tracks all trades conducted through TORA Compass(TM) and measures the order receipt, order processing and exchange execution times with microsecond accuracy. Analysis, reports and alerts are automatically generated in real-time by the software and provided to Tora customers using TORA Compass. Over US$25 billion in transactions are processed each month through TORA Compass, including over 25% of all electronic trading on the Tokyo Stock Exchange.
"Deploying Trading Metrics software provides us with the means to track trades processed by TORA Compass on an 'end to end' basis," said Eric Sun, CTO of Tora. "Tora and our clients will benefit from the capability to analyze and report on the time each order is received, the speed at which each trade is processed by the broker, and the partial or complete execution speed of each exchange."

"Our software allows brokers to separate and report on exchange delays versus order handling or brokerage delays," said Jeff Drew, CEO Trading Metrics. "Execution Management Service providers and Agency Brokers want to establish quality of service levels in order to compete for order flows. To do this, they must measure and report trade execution speed while identifying delays that occur at the exchange, outside of the brokers' or EMS application's control," continued Drew.
"Most of our clients have the ability to trade with different brokers in any one market. In Asia, there can be considerable performance differences across different Broker DMA environments as well as performance differences across the exchanges themselves. With Trading Metrics software we are able to compare, in real time, how fast our clients' orders are processed across different brokers and exchanges. We believe this will give our clients and our brokers meaningful information which will influence their trading strategies," observed Sun.

Trading Tools

Trade Suite / CNS Interface
Application used to streamline trade processing and reduce risk to executing broker and the prime broker. Supplied by National Securities Clearing Corporation
NSCC
National Securities Clearing Corporation
TRM-Prime Broker (TRM-PB)
Management of the entire post-trade, pre-booking process in prime brokerage. Supplied by Traiana.
Beauchamp
A platform to manage complex portfolios and satisfy investor and regulatory requirements. Supplied by Linedata
T Zero Prime Brokerage
Prime brokers use T Zero to automate the give up process. Vendor is T Zero
Geneva
Application for client portfolio accounting, general ledger accounting, performance measurement and portfolio reporting. Geneva's tool vendor is Advent
Swaps Pricing Platform
Accessing security quotes generated by broker-dealers that prime brokers use for calculating client's net asset values (NAV). Tool vendor is SQX.