Tradeweb Markets LLC has announced the introduction of an electronic, multi-dealer-to-customer trading platform for FX options. The new platform enables options trading on major currencies and allows buy-side investors to request quotes from several dealers simultaneously. Participants also benefit from integrated trade processing and post-trade reporting.
Seven leading dealers are currently providing liquidity to the marketplace, while several other firms are in the process of joining the platform as liquidity providers. Users of the Tradeweb FX options platform can trade outright plain vanilla currency options or multi-leg strategies on a live or delta-exchange basis. The G10 currencies are initially supported. The platform utilizes the multi-dealer request-for-quote (RFQ) trading protocol pioneered by Tradeweb for the fixed income markets, allowing clients to hold a real-time auction with multiple dealers.