Jefferies Joins Tradeweb’s Electronic Trading Platform for US Treasuries and European Government Bonds

Jersey City, NJ -- January 14, 2010 -- Tradeweb, a leading global provider of online markets, today announced that Jefferies has joined as a liquidity provider for its leading online US Treasury and European government bond marketplaces. This follows the recent appointment of Jefferies as an official member of the Federal Republic of Germany's bidding group, a Gilt-edged Market Maker (GEMM) jointly by the UK Debt Management Office and London Stock Exchange, a Dutch Primary Dealer by the Dutch State Treasury and as Primary Market Operator (OMP) and Treasury Bill Specialist by the Portuguese IGCP. Jefferies has been a Primary Dealer in the US since June 2009.

"We are delighted that Jefferies has joined Tradeweb's flagship government bond marketplaces," said Billy Hult, President of Tradeweb. "Their primary dealer status in so many key markets makes them an important addition to our powerful dealer group and further enhances access to the highest levels of liquidity for our client base."

"The decision to target a number of primary dealerships across Europe and to join Tradeweb represents an important milestone for Jefferies," said Emanuele Caloia, Managing Director and Head of Fixed Income e-Trading at Jefferies. "Geographic expansion is a strategic priority for the business. By joining Tradeweb, we have opened up an essential distribution outlet for European government bonds to the global Jefferies client base."

"As a Primary Dealer, Jefferies is committed to providing our customers with the most efficient access to liquidity, and electronic distribution is a crucial component," said Chris Bury, Global Co-Head of Rates at Jefferies. "Tradeweb's leading market position enables us to immediately expand our footprint as a market maker in Treasuries around the world."

Tradeweb's US and European government bond markets were launched over 10 years ago. The online platform offers increased efficiencies to over 1300 institutional clients across the US, Europe and Asia. This includes broad access to real-time dealer pricing from 15 leading dealers for Treasuries and 27 for European government bonds, as well as seamless straight-through processing. In 2009, Tradeweb introduced Tradeweb PLUS for European government bonds, an innovative trading protocol which provides clients streaming, real-time executable dealer prices, further improving speed of execution and the quality of price discovery.

About Tradeweb

Tradeweb is a leading provider of online markets and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income, derivative, and equity markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global fixed income and derivatives trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. Tradeweb Retail provides a trading and sales application to fixed income brokers and traders. With its expansion into the equity markets, Tradeweb is leveraging AutEx, the industry leader for more than 40 years in providing indications of interests, and Tradeweb Routing Network, a global FIX network with more than 8,000 connections between over 1,100 firms. Tradeweb is owned by Thomson Reuters and a group of leading banks.

About Jefferies

Jefferies, a major global securities and investment banking firm, has served companies and their investors for more than 45 years. Jefferies & Company, Inc. is the principal US operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: http://www.jefferies.com/), and Jefferies International Limited is the principal UK operating subsidiary. Jefferies International Limited, a UK-incorporated company, is authorised and regulated by the UK Financial Services Authority.

Jefferies is currently authorized as a core discount note dealer with FNMA, FHLMC, FHLB, and FAMC, and a designated discount note dealer with FFCB. It is an authorized underwriter of MTNs and callable debt for all five of the active GSE issuers (FNMA, FHLMC, FHLB, FFCB and FAMC).