FTSE Russell and Tradeweb get Treasury appointment

The UK Treasury has appointed FTSE Russell, the index provider, and Tradeweb, an electronic trading platform, to jointly provide end-of-day reference prices for gilts and treasury bills.

The two firms said they were creating ‘Tradeweb FTSE Gilt Closing Prices’ to support UK Debt Management Office (DMO) plans to change the way prices are released.

The move follows the DMO’s announcement that it intends to withdraw from the provision of reference prices. An independent review into successor arrangements is to be launched.

Tradeweb becomes the “single input data source” of market pricing for the UK market, said Enrico Bruni, managing director, head of Europe and Asia business at Tradeweb.

Tradeweb and FTSE Russell will produce end-of-day gilt reference prices in a manner consistent with International Organization of Securities Commissions principles.

FTSE Russell will operate as the administrator of the reference prices and will use these prices in the calculation of the FTSE Actuaries UK Gilts Index Series.

It is expected that the transition to the Tradeweb FTSE Gilt Closing Prices will take place in the first quarter of 2017.

©2016 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST