Tradeweb Extends Trading Hours for U.S. Presidential Election

NEW YORK (Reuters) – Bond trading platform Tradeweb plans to extend trading hours on Nov. 6, the day after the U.S. presidential election, and offer overnight support on Election Day.

> "We are providing overnight operational support and some early trading hours to cover the U.S. Presidential Election," the company stated in an email to clients on Thursday.

Several banks, brokerages, investment managers, and exchanges are adding staff to handle high trading volumes surrounding Election Day, as reports indicate that markets are expected to be volatile as results come in.

Tradeweb, specializing in electronic trading for rates, credit, equities, and money markets, confirmed that customer relations and dealer relations teams would be available throughout the night of Nov. 5 to provide "additional operational and technical support."

Trading will begin earlier than usual on Nov. 6 for products including European credit and equities, as well as repurchase agreements, U.S. credit, and U.S. exchange-traded funds.

Trading for U.S. credit default swaps, derivatives used to insure against credit exposure, will start just after midnight (0500 GMT) on Nov. 6, unlike the standard start time of 7:00 a.m.

Tradeweb reported an average daily trading volume of $2.2 trillion in the quarter ending on Sept. 30, reflecting a 55.3% increase year-on-year, as stated in its quarterly results on Wednesday.