"Tradeweb, an operator of electronic trading platforms, moves over $3 trillion a day across the fixed-income landscape and commands roughly 80% of the agency mortgage-backed securities (MBS) market. However, the platform lacked exposure to non-agency loans. Enter Maxex, a digital mortgage exchange built for this market."
"The integration is already underway, starting with what Pearce calls the lowest-hanging fruit: bulk trading capabilities. Slated to roll out in the second or third quarter, the integration provides an easier technological bridge before the companies tackle the greater complexities of flow execution."
"For Tradeweb, the partnership unlocks a highly sought-after asset class for its 3,200 global institutional clients across 85 countries, offering them an efficient way to acquire loans and express a view on credit through the Maxex platform."
Tradeweb is expanding into the residential private credit sector through a partnership with Maxex, a digital mortgage exchange. This collaboration allows Tradeweb to offer non-agency loans, enhancing its existing platform that primarily focuses on agency mortgage-backed securities. The integration will begin with bulk trading capabilities, set to launch in Q2 or Q3. This partnership aims to provide Tradeweb's global institutional clients with access to a new asset class and improve pricing for smaller mortgage originators.
Read at www.housingwire.com
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