Tradeweb adds direct T-bill trading to ICD portal - Trade Treasury Payments

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Tradeweb adds direct T-bill trading to ICD portal

Tradeweb Markets Inc. has introduced direct trading of US Treasury bills (T-bills) on ICD Portal.

The connection between ICD Portal and Tradeweb’s electronic trading platform enables users to execute T-bill trades alongside money market funds, bank deposits, and other short-term investment products. The update is intended to support treasury operations seeking increased automation and consolidation of investment processes.

ICD Portal facilitates over $4.5 trillion in annual trading volume and supports more than 550 treasury organisations globally, including around 17% of S&P 100 companies as of the end of 2024. With this integration, ICD clients gain access to Tradeweb’s institutional pricing and execution infrastructure for T-bills, an asset class that is widely used for liquidity management.

The update follows Tradeweb’s acquisition of ICD in 2024. The firm stated that the new functionality is the first in a planned series of enhancements that will expand access to additional fixed income products over time.

Tory Hazard, Managing Director at ICD, said, “Tradeweb is uniquely positioned to provide corporate treasurers with a comprehensive and efficient trading experience. The direct T-bill trading capability on ICD Portal—combined with our advanced price discovery and order execution technologies—offers corporate clients a powerful, automated workflow that enhances cash management, minimizes risk, and supports optimal liquidity.”

Tradeweb operates global electronic marketplaces across rates, credit, equities, and money markets, serving over 3,000 clients in more than 85 countries. The company reported average daily notional trading volume of $2.2 trillion over the past four fiscal quarters.

Further product expansions on ICD Portal are anticipated in alignment with client investment strategies and platform development priorities.