BNP Paribas Joins Tradeweb Treasuries Platform
Expanding Treasuries Global Dealer Group to Fourteen
New York, NY (April 24, 2002) -- TradeWeb LLC, the leader in online fixed-income trading, announced today that BNP Paribas has become a dealer participant on TradeWeb's U.S. Treasury trading platform.
BNP Paribas is the 14th dealer to join the TradeWeb Treasury dealer group. The other dealers are Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Salomon Smith Barney, Morgan Stanley, Deutsche Bank, Barclays Capital, JP Morgan Chase, Greenwich Capital, ABN AMRO, Bear Stearns and UBS Warburg.
The TradeWeb Treasury platform enables institutional investors to view live, 2-sided market pricing for the entire Treasury curve -- including every treasury bill, note, bond and strip -- and trade with the leading dealers.
Trading volume for the TradeWeb Treasury product continues to surge with total trading volume exceeding $6.5 trillion since it began in 1998. In addition to U.S. Treasuries, TradeWeb also offers online trading for U.S. Agencies, TBA mortgage-backed securities, Commercial Paper, and Euro Sovereign debt securities. TradeWeb recently announced that it eclipsed $10 trillion in total trading volume for all products, with half of that volume occurring within the past eight months.
Jim Toffey, CEO of TradeWeb, said: "We are very excited to expand our Treasury dealer group to include BNP Paribas. Their participation will provide our institutional investors with another premier dealer and will help increase the depth of liquidity provided by the platform."
Edward J. O'Malley, Managing Director and Head Trader of U.S. Treasury Desk at BNP Paribas, said: "We are excited about joining the TradeWeb Treasury platform. We are committed to our U.S. primary dealership, and view TradeWeb as a method by which we can expand our distribution capabilities while providing our customers with a fast and efficient trade execution tool."
TradeWeb LLC is the leader in online fixed-income trading with more than 1.8 million trades executed and total volume exceeding $10 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links eighteen of the world's leading dealers of fixed-income securities with more than 1,000 buy-side institutions in North America and Europe.
The company's online trading network is utilized by clients to trade U.S. Treasury and agency debt securities, TBA agency mortgage-backed securities, commercial paper, euro-sovereign debt securities and pfandbriefe.
The company also provides fixed-income market professionals with premier market data for the liquid fixed-income securities traded on its platform. Real-time market data is available either directly from TradeWeb over the Internet or through data distribution agreements with MoneyLine Telerate and Reuters.
TradeWeb is also a leader in electronic "straight-through processing" of fixed-income trades, providing dealers and customers with paperless trade allocations and confirmations on its fully-integrated TradeXpressSM network. For more information about TradeWeb products and services, please visit the company's website at www.tradeweb.com or contact Larry Schwartz in the US at (201) 499-4105 or Helena Rowe in Europe at +44 (0) 20 7776 3263.