Jefferies and Co. Now on TradeWeb’s Corporate Marketplace
JERSEY CITY, N.J., April 11, 2005 Thomson TradeWeb, part of The Thomson Corporation (NYSE: TOC; TSX: TOC), a leading global provider of integrated information solutions to professional customers, announced today that Jefferies andamp; Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), has gone live as liquidity provider for TradeWeb's growing online corporate bond marketplace. The firm is an active market maker in a wide range of credit sectors and has extensive relationships with institutional credit investors. Also, Jefferies is among the most experienced dealers in electronic trading for corporate bonds. Its Bond Direct unit was among the earliest pioneers in providing online liquidity for corporate bond investors.
TradeWeb Corporates continues to build significant momentum in adding dealer liquidity to its online marketplace. Since the beginning of 2005, Wachovia Securities, Piper Jaffray, Deutsche Bank, and now Jefferies all started providing liquidity for their corporate bond customers over TradeWeb. The other nine members of TradeWeb's corporate bond dealer group include Citibank, Goldman Sachs, HSBC, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank, and FTN Financial. In the upcoming weeks, there will be three more dealers going live on TradeWeb Corporates bringing the total to 16.
Jefferies on TradeWeb brings investors another great source for high quality service, deep liquidity, and electronic trading expertise, said Jim Toffey, CEO of Thomson TradeWeb. We are also very pleased that Jefferies is among the growing group of dealers that have chosen TradeWeb as a prominent third-party provider for electronic trading in corporate bonds.
James Nealis, a Managing Director in Jefferies Bonds Direct unit added, Jefferies participation on TradeWeb further demonstrates our strong commitment to leveraging technology in providing the most efficient and highest quality service for our customers. We have been at the forefront of the electronic trading trend in corporate bonds, and this move to TradeWeb significantly enhances our platform.
TradeWeb Corporates is a full service electronic trading platform that provides extensive corporate bond market data, commingled dealer inventories, efficient execution for simple and complex trades, and robust straight-through processing. Customers that use TradeWeb have the unique ability to electronically upload up to 30 multiple buy and sell trades that are pre-allocated onto a single list for efficient execution and processing by multiple dealers. TradeWeb customers also benefit from a new Most Actives monitor that filters and summarizes live TRACE information by individual credit sectors and maturity.and#160; Currently, TradeWeb's 13 member dealer group provides liquidity to traders at more than 200 buy-side firms.
About Thomson TradeWeb:
TradeWeb is the leading online fixed-income trading network with over 7 million trades executed and total volume surpassing $73 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links 160 trading desks of 34 of the world's leading fixed-income dealers with more than 2,000 buy-side institutions in North America and Europe.
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.
Thomson TradeWeb operates within the Thomson Financial group of businesses. TradeWeb LLC is a member of the NASD.
About Thomson Financial:
Thomson Financial is a US$1.73 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$8.10 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).