Nomura Securities Joins Tradeweb’s Online Mortgage Marketplace
November 16, 2009 (Jersey City, NJ); Tradeweb, a leading global provider of online markets, today announced that Nomura Securities International, Inc. has joined as a liquidity provider for its leading online dealer-to-client TBA-MBS marketplace.
Effective immediately Nomura Securities will be providing clients online access to TBA trading and liquidity through Tradeweb. This move is part of the expansion of Nomura's U.S. fixed income operations.
The to-be-announced mortgage-backed securities marketplace is Tradeweb's largest, with average daily trading volumes of more than $70bn in 2009, up 6% from 2008 year-to-date. Nomura is the 12th dealer to provide liquidity to this marketplace.
"We are excited that Nomura Securities will provide clients with access to TBA trading and market making over Tradeweb," said Billy Hult, President of Tradeweb. "Adding a liquidity provider of Nomura's stature is a welcome expansion of Tradeweb's elite dealer group and is a statement of Nomura's commitment to the U.S. TBA markets."
"Nomura is committed to delivering market-leading product expertise and trading liquidity across the U.S. fixed income markets. Delivering timely and competitive TBA liquidity is a cornerstone to this development," said Charlie Spero, Managing Director and Co-Head of U.S. Fixed Income at Nomura Securities.
"We are excited to provide competitive real-time liquidity solutions for our TBA customers, both in the U.S. and globally," said Michael Cudzil, Managing Director and Head of TBA Trading at Nomura Securities. "Our clients demand the efficiency benefits of electronic trading, as well as instant access to liquidity."
Tradeweb's mortgage market was launched in February 2001. The online platform offers increased efficiencies to institutional clients, including broad access to real-time dealer pricing and seamless trade processing. The dealers providing liquidity on Tradeweb's mortgage marketplace are: Bank of America, Barclays Capital, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nomura Securities, RBS, and UBS.
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.