ION expands ETF RFQ functionality through integration with Tradeweb

ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates, announces that its Fidessa trading platform now supports Request for Quote (RFQ) functionality, including an integration with the Tradeweb electronic trading platform, for Exchange Traded Funds (ETFs). This collaboration enables mutual customers of Tradeweb and ION to access Tradeweb’s ETF RFQ workflow within their existing Fidessa environment.

Tradeweb operates a global electronic trading network of over 3,000 clients, including the world’s largest banks, asset managers, hedge funds, insurance companies, wealth managers, corporate treasurers and retail clients. This integration enhances the trading experience for equities firms by creating a more seamless and automated workflow between Fidessa and Tradeweb.

Through this integration, users of both Tradeweb and Fidessa can benefit from competitive pricing and workflow efficiencies supported by Tradeweb’s automated RFQ functionality and straight-through processing tools. This enhanced automation streamlines the entire trade lifecycle – from execution to settlement – reducing manual intervention and improving operational efficiency for institutional investors.

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By connecting Tradeweb’s ETF RFQ capabilities with Fidessa’s platform, customers gain access to a wider pool of global liquidity providers in a more streamlined way. This integration provides several key benefits, such as:

• Increased automation and efficiency: Tradeweb customers can now manage their ETF RFQs directly on their Fidessa trading screen, streamlining processes and minimizing trade errors. They can also automate their ETF RFQ flow by setting parameters for quote requests, provider selection, and price acceptance.
• Modernized workflow: Integration with Tradeweb’s functionality provides more transparency and better trade execution insights, streamlining the process for liquidity access.
• Heightened risk management and compliance: Firms executing trades on behalf of clients have regulatory obligations to achieve the best possible execution. Fidessa’s support for Tradeweb ETF RFQs strengthens compliance by offering a transparent and auditable trail of quote requests and pricing.

Adam Gould, Global Head of Equities at Tradeweb, said: “We are pleased to collaborate with ION to deliver a more automated, optimized solution for ETF trading. This integration gives customers efficient access to Tradeweb’s advanced RFQ functionality, competitive pricing and deep pool of liquidity providers in a seamless and streamlined way. By leveraging Tradeweb’s ETF RFQ functionality, ION clients will unlock greater transparency, richer data insights and enhanced best-execution in their ETF trading strategies.”

Robert Cioffi, Global Head of Equities Product Management at ION, said: “ION is proud to support innovations like Tradeweb’s RFQ functionality to help our mutual customers provide exceptional services to their clients. This partnership advances the automation of ETF RFQ flow, making it easier than ever for Fidessa users to tap into diverse liquidity sources and achieve superior execution outcomes.”