WATS® Electronic Trading Services

Electronic trading across asset classes

WATS® Electronic Trading Services delivers an extensive range of liquidity across multiple asset classes. Accessed through a variety of trading venues, and strengthened by best-in-class customer service, our platform provides powerful execution tools for our institutional trading customers.

WATS® Credit

Consistently ranked as one of the largest providers of corporate bond liquidity on the street, our strategies offer customers access to:

  • High grade corporate bonds, distributed to the U.S., London, and Hong Kong
  • High yield corporate bonds
  • Preferred stock
  • Money markets

WATS® Equities 

Our state-of-the-art technology enables efficient trading strategies across single stocks, portfolios, and pairs trading. Coupling sophisticated statistical analysis with the intuition of seasoned traders, we can deliver trading that responds in real time to changing market conditions. We offer: 

  • Access to all NMS market centers, including dark and lit venues 
  • Diversified suite of algorithms 
  • Electronic market making

WATS® Futures 

Providing around-the-clock access to more than 45 exchanges worldwide, our platform specializes in high-touch and multi-asset class execution delivering customers: 

  • Sophisticated suite of algorithms 
  • Extensive global market access (either directly or through 3rd party brokers) 
  • High-touch voice brokerage execution capabilities 
  • A broad offering of Direct Market Access (DMA) offerings


Our global trading desk provides customers 24 hours a day, 6 days a week access to a wide variety of liquidity and execution strategies in over 100 currencies and delivers:

  • Electronic pricing and risk management
  • Deep and highly competitive liquidity
  • Market color and insights for active traders

WATS® Municipals 

As a leading municipal securities dealer, we deliver market insight, expertise, and liquidity across a range of offerings for: 

  • Tax-exempt municipals 
  • Taxable municipals

WATS® Rates 

Gain access to our liquidity depth and product variety through a variety of global platforms offering: 

  • U.S. Treasuries 
  • U.S. non-MBS agencies 
  • U.S. dollar-denominated interest rate swaps


Providing institutional and middle-market customers with competitive pricing and seamless electronic execution of:

  • Outright TBAs
  • Dollar rolls
  • Coupon/agency swaps