TradeWeb Daily Volume Surpasses $100 Billion Mark
-- Growth Accelerates on Global Fixed Income Trading Network--
JERSEY CITY, NJ (May 9, 2003) -- TradeWeb, the leader in online fixed-income trading, announced that its daily trading volume has surpassed the $100 billion mark yesterday.
"Reaching $100 billion per day in volume is truly exceptional," said Jim Toffey, CEO of TradeWeb. "These very large volumes demonstrate that e-commerce is now in the mainstream of fixed-income trading flows."
Yesterday's volume record represents a doubling of trading volume year over year on TradeWeb's global network. During the past twelve months more than 1,500,000 trades have been completed in a range of fixed-income products, including U.S. Treasuries, U.S. Agencies, Commercial Paper, Agency Discount Notes, Euro-denominated Sovereign debt, Supranationals, Pfandbriefe, TBA mortgage-backed securities, and European Commercial Paper.
TradeWeb is the leader in online fixed-income trading with more than 3 million trades executed and total volume exceeding $24 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links 21 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 a leader in electronic "straight-through processing" of fixed-income trades, providing dealers and buy-side institutions with paperless trade allocations and confirmations on its fully integrated TradeXpress network.
For more information about TradeWeb products and services, please visit the company's website at www.tradeweb.com or contact Jack Mahoney, TradeWeb in the U.S. at (201) 536-5878 or Helena Rowe in Euorpe at +44 (0) 20 7776 3263.