REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
July 23, 2024
FROM
ENSEN MASON, Auditor-Controller/Treasurer/Tax Collector
SUBJECT
Title
Agreement with Tradeweb, LLC for Electronic Trading Platform
End
RECOMMENDATION(S)
Recommendation
Approve User Agreement, including non-standard terms, and side letter with Tradeweb, LLC to provide access to trade securities on a dealer network trading platform effective July 23, 2024, until terminated by either party with a minimum of seven days' notice.
(Presenter: John Johnson, Assistant Auditor-Controller/Treasurer/Tax Collector, 382-7005)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
FINANCIAL IMPACT
Approval of this item will not result in the use of additional Discretionary General Funding (Net County Cost) as the trading platform has no financial cost to the County. Tradeweb, LLC (Tradeweb) will waive the U.S. Treasuries Trading Access fee contingent upon an active Tradeweb User Agreement (Agreement) with San Bernardino County. Although Tradeweb shall have the right to terminate the Fee Waiver upon 60 days prior written notice, either party can terminate the Agreement for any reason with not less than seven days' notice, which provides the ability to prevent any future charges should the Fee Waiver be terminated.
BACKGROUND INFORMATION
The Auditor-Controller/Treasurer/Tax Collector's (ATC) Treasurer Division utilizes various trading systems and platform technologies to execute trades for the purpose of investing funds in the $15 billion County Investment Pool. Tradeweb is a leading proprietary electronic trading platform that facilitates trading primarily in fixed income products. Tradeweb's platform connects institutional investors, dealers, and other market participants to execute electronic trades in real-time, supporting centralized trading for U.S. treasuries and ...
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