Tradeweb said it added high-yield bonds to its European credit trading platform. The addition of high-yield bonds was intended to help asset managers "to enhance portfolio returns,'' in a period of low interest rates.
"Investor interest in high-yield bonds has coincided with a boom in issuance over the past two years. It made sense for us to offer clients a more efficient way to invest in these securities," said Rupert Warmington, head of European Credit at Tradeweb.
The expansion comes as Tradeweb said its monthly volume of trading in forms of credit had increased 269 percent, over a span of 18 months.
in monthly credit trading volumes of 269% over the last 18 months.
"We expect another record year for the high-yield bond market if the trend over the first five months continues," said Warmington. "A key driver of this is the lack of issuance from cash-rich investment-grade corporates."
There are 21 dealers providing liquidity for high-yield bonds on Tradeweb's credit platform, which was launched in June 2006.