BlackRock joins with Tradeweb to bring more pricing in-house

NEW YORK Wed May 14, 2014 12:37pm EDT

NEW YORK May 14 (Reuters) - BlackRock Inc, the world's largest money manager, said on Wednesday it has partnered with trading platform Tradeweb Markets LLC to bring pricing for fixed-income securities and derivatives in-house to BlackRock's investment and risk management system.

Through the partnership, users of BlackRock's Aladdin investment management platform will be able to see pricing from more than 40 liquidity providers within Tradeweb's network on the Aladdin dashboard, rather than go outside to get quotes from dealers, as was previously the case.

In addition to accessing pricing and historical information, Aladdin clients will be able to "click to trade" from their dashboard, said BlackRock spokeswoman Lauren Post. While users will be able to transact from the Aladdin screen, all of the actual trading will happen at Tradeweb, she said.

BlackRock has partnered in a similar strategic alliance once before, with electronic credit trading platform MarketAxess Holdings Inc last year.

Aladdin, a proprietary system that provides data to help clients manage their portfolios, is a key business for New York-based BlackRock, which manages $4.4 trillion in assets.

Tradeweb is majority-owned by Thomson Reuters. (Reporting by Ashley Lau; Editing by Steve Orlofsky)

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