Tradeweb and BNY Expand Short-Term Investment Options for Companies, with Launch Expected in 2027
Key Facts
Tradeweb announced a strategic collaboration with BNY LiquidityDirect on November 9, 2026, to expand the investment options available to ICD Portal clients, with the offering expected to launch in the first quarter of 2027. The integration will allow clients to select BNY for custody and short-term investment at the individual-account level. Tradeweb said the service will support U.S. and international investment needs. The announcement adds to the options available to treasury teams using the platform to manage their short-term investments. It will be implemented through a direct integration between ICD Portal and LiquidityDirect.
After the offering launches, new and existing clients will be able to select BNY when opening new accounts, according to Tradeweb. The selection will be available for each account individually, giving companies flexibility to determine custody and investment arrangements suited to their needs. The company said the integration will fit into the existing ICD Portal workflow. It will not require changes to the platform’s broader workflow, according to its statement. The addition will therefore make BNY available within the account-opening steps, rather than redesigning the ICD Portal user experience.
Tom Britton, Tradeweb’s co-head of corporate markets, said adding BNY gives clients “greater flexibility in how they structure their accounts.” He added that the collaboration expands the infrastructure available to support the company’s international client base. For BNY, Clint Craft, head of liquidity and margin, said combining the bank’s capabilities with Tradeweb’s client network and workflow strengthens connectivity. He added that this combination supports investment needs across global markets. The two executives’ comments place account flexibility and market connectivity among the aims of the new offering.
ICD Portal operates as a multi-fund platform that gives corporate treasury clients access to and the ability to trade money market funds and short-term investments. The platform offers more than 500 investment products from more than 60 fund providers worldwide. Products include money market funds, Treasury bills, short-term bond funds, term funds, demand deposits and time deposits. The platform also includes centralized trading, reporting and analytics. Through it, Tradeweb supports treasury institutions in North America, Europe, the Middle East and Africa, and Asia-Pacific, with products in multiple currencies.
Tradeweb says more than 650 treasury teams and thousands of professionals rely on ICD Portal and ICD Portfolio Analytics in 2026. The collaboration comes as the company’s average daily money market trading volume recorded annual growth of 6% in the third quarter of 2026. The company attributed that to continued ICD Portal activity from existing clients and the addition of new clients, alongside repurchase agreements. In October 2026, average daily trading volume in other money markets rose 7.4% to $291.4 billion year over year. Tradeweb said ICD Portal activity, together with growth in commercial paper and discount notes, supported October’s result.