Thomson TradeWeb launches European Credit Platform
LONDON, 05/09/2006, Thomson TradeWeb, the leading online marketplace for fixed income securities and OTC derivatives, and a unit of The Thomson Corporation (NYSE: TOC, TSX: TOC), today announced the launch of its new European cash credit electronic trading platform.
After a thorough review with both the buy and sell-side of system functionality and requirements, TradeWeb has developed a platform which brings to the market significant additional features and capabilities. These have been designed specifically in response to requests from institutions and dealers in an already established electronic market. Thomson TradeWeb’s platform offers fixed and floating investment grade securities in Euros, Sterling and US Dollars.
Dealers providing liquidity on the new Credit platform include: ABN AMRO, Barclays Capital, Credit Suisse, HSBC, Morgan Stanley, The Royal Bank of Scotland, Société Générale and one other dealer. Citigroup and Merrill Lynch are among an additional group of dealers who are planning to join the platform in the coming months.
Lee Olesky, President of Thomson TradeWeb commented: “European Credit is a natural extension of our existing offering, and client demand has been remarkable. To be able to bring together the needs of both the buy and sell-side in the Credit markets creates an excellent opportunity for the market as a whole.”
Reinhardt Damm, Head of the Buy-side Execution Desk at Metzler Investment GmbH, said:“ The TradeWeb European Credit platform looks like it will add benefits to what is currently available, and will fit well with our STP solution.”
Per Moller, Head of Trading and Execution at Nordea Investment Management, added: “The convenience of adding credit to TradeWeb’s existing rates and derivatives platform is very useful for us.”
Ulrich Faupel, Head of Trading at WestLB Mellon Asset Management, said: “We have been using TradeWeb for a number of years and their new European Credit platform is an exciting development for us.”
Notes to Editors
About Thomson TradeWeb
TradeWeb is the leading online fixed-income trading network with over 9 million trades executed and total volume surpassing $120 trillion since its inception in 1998. TradeWeb’s multi-dealer auction model now links 36 of the world’s leading fixed-income dealers with more than 2,200 buy-side institutions in Europe, North America and Asia. Over $200 billion in trading volume gets executed over TradeWeb each day.
The business is also the leading electronic ‘straight-through processing’ network for the fixed-income markets, providing dealers and buy-side institutions with paperless trade allocations and confirmations on its fully integrated TradeXpress network. TradeWeb’s STP network also includes AccountNet, the leading standard settlement instructions database and first counterparty management tool for the dealer-to-customer interest rate derivatives online marketplace. TradeWeb is also the leading innovator in the institutional fixed-income markets for best execution and compliance measurement and benchmarking.
Thomson TradeWeb operates within the Thomson Financial group of businesses. TradeWeb LLC is a member of the NASD. TradeWeb Europe Limited is authorised and regulated by the U.K. FSA.
About Thomson Financial
Thomson Financial is a US$1.9 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a global leader in providing integrated information solutions to more than 20 million business and professional customers in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With revenues of US$8.7 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
- Contact Information
- Helena Rowe
- Thomson TradeWeb, Europe
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