{"id":8354,"date":"2023-05-13T21:35:59","date_gmt":"2023-05-14T01:35:59","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/trading-platform-tradeweb-in-talks-about-us-default-contingency-plans\/"},"modified":"2023-05-13T21:35:59","modified_gmt":"2023-05-14T01:35:59","slug":"trading-platform-tradeweb-in-talks-about-us-default-contingency-plans","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8354","title":{"rendered":"Trading platform Tradeweb in talks about US default contingency plans"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A trader works on a trading floor of Tradeweb Markets, in New York City, U.S., October 27, 2022. REUTERS\/Shannon Stapleton<\/span>
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NEW YORK (Reuters) – Bond trading platform Tradeweb is in talks with clients, industry groups and other market participants about contingency plans in case of a U.S. debt default, a spokesperson said on Friday.<\/p>\n

Financial markets are jittery about the possibility that the U.S. Treasury could miss debt payments as President Joe Biden and top lawmakers remained deadlocked in talks over raising the $31.4 trillion federal borrowing limit.<\/p>\n

As U.S. government bonds are seen as the building blocks of the global financial system, a potential default would send showckwaves across financial markets.<\/p>\n

In response to a Reuters query, Tradeweb said it continued to “evolve its contingency plans” to ensure its clients could execute trades efficiently in any potential outcome.<\/p>\n

The company operates electronic marketplaces for rates, credit, equities and money markets. It reported a total trading volume of $22.3 trillion last month. <\/p>\n

“As the leading electronic trading platform for U.S. Treasuries, we will be ready with any necessary technical changes to the impacted securities,” a Tradeweb spokesperson told Reuters in a statement.<\/p>\n

During the last decade, debt limit standoffs have largely been resolved before they could ripple out into markets, but a relatively short time frame and the Republican party\u2019s narrow majority in Congress could make it harder to reach a compromise this time.<\/p>\n

The U.S. Congressional Budget Office said in a report issued on Friday morning that there was “significant risk” of a historic default within the first two weeks of June. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A trader works on a trading floor of Tradeweb Markets, in New York City, U.S., October 27, 2022. REUTERS\/Shannon Stapleton NEW YORK (Reuters) – Bond trading platform Tradeweb is in talks with clients, industry groups and other market participants about contingency plans in case of a U.S. debt default, a spokesperson […]<\/p>\n","protected":false},"author":1,"featured_media":5340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-8354","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nTrading platform Tradeweb in talks about US default contingency plans | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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