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HSBC Taps Into TradeWeb To Expand its U.S. Treasuries Business

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--HSBC Becomes 16th Primary Dealer to Provide U.S. Treasuries Liquidity for Customers on Leading Fixed-Income Network-- 


New York, NY (December 2, 2003) -- TradeWeb, the leading dealer-to-customer fixed-income trading network, announced today that HSBC Securities (USA) Inc. has become a dealer participant on its U.S. Treasury trading platform. HSBC already uses TradeWeb's Euro Sovereign, Supranational, and Pfandebrief trading platforms to trade with its European customers. This move to TradeWeb for U.S. Treasuries is another significant step in the development of its global fixed-income franchise.


HSBC is the sixteenth primary dealer to join TradeWeb's U.S. Treasuries dealer group, which includes Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Citigroup, Morgan Stanley, Deutsche Bank, Barclays Capital, JP Morgan, Greenwich Capital, ABN AMRO, Bear Stearns, UBS Investment Bank, BNP Paribas, and Banc of America Securities. HSBC will make markets in U.S. Treasuries bills, notes, bonds, and strips for its customers on TradeWeb.


TradeWeb's multi-dealer platform enables institutional investors to transact in ten fixed-income asset classes. Buy-side customers in the U.S. and Europe can price, trade, allocate and confirm their fixed-income transactions with their dealers - all on one network. More than $16 trillion of market value in fixed-income transactions has been executed so far this year on TradeWeb.


Jim Toffey, CEO of TradeWeb, said: "HSBC is one of the major global financial services organizations and its addition to TradeWeb's U.S. Treasuries dealer group provides a real benefit by further expanding the pool of liquidity that institutional investors can access over our network. TradeWeb's multi-dealer model provides HSBC and its customers with a very efficient way of transacting business, leaving more time for value-added discussions and service."


About TradeWeb


TradeWeb is the leading online fixed-income trading network with over 4 million trades executed and total volume of $36 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links 24 of the world's leading dealers of fixed-income securities with more than 1,400 buy-side institutions in North America and Europe.


The company 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 TradeXpressSM network. TradeWeb's STP network also includes AccountNet, the leading standard settlement instructions database.


For more information about TradeWeb products and services, please visit the company's website at or contact Jack Mahoney in the U.S. at (201) 536 5878 or Helena Rowe in Europe at +44 (0) 20 7776 3263.