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 a customer service focus, 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 offers our customers: 

  • Multi-asset class execution capabilities
  • Sophisticated suite of algorithms 
  • Extensive global market access 


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:

  • Streaming and RFS pricing for FX spot, outright, swaps, and block trades
  • Deep and highly competitive liquidity
  • Pricing accessible over major ECNs

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 products 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