Tradeweb Markets Completes First On-Chain Electronic CD Auction

According to Odaily, Tradeweb Markets, an operator of electronic trading platforms for interest rates, credit, equities, and money markets, has announced the completion of the industry's first fully electronic on-chain brokered certificate of deposit (CD) auction. The transaction involved Gateway First Bank and InspereX. Data indicates that as of October this year, the total issuance of brokered CDs globally is approximately $566 billion, with an estimated outstanding amount of around $820 billion, highlighting significant potential in the on-chain electronic brokered CD market.