TradeWeb Passes $5 Trillion Mark
- Global Bond Network's Volume Surges with Trading in Five Online Markets -
NEW YORK, NY ( July 9, 2001) TradeWeb LLC, the leader in online fixed-income markets, today announced that its cumulative trading volume has surpassed the $5 trillion mark since inception.
The TradeWeb network was launched with an investment by major bond dealers in 1998 to offer Internet-based electronic trade execution to institutional customers for U.S. Treasuries. The TradeWeb product line has since expanded to include additional highly liquid debt products, including U.S. Agency debt, Euro-Denominated Government debt, Agency mortgage-backed securities and commercial paper.
"It took us more than two years to reach the first trillion dollar level, but now we're seeing over a trillion dollars of volume each quarter," said Jim Toffey, President and CEO of TradeWeb. "We are fortunate to have gained such widespread acceptance from bond investors and dealers."
TradeWeb's proprietary auction model enables institutional investors to receive live price quotes simultaneously from their key dealers and trade instantly. Users can connect to TradeWeb's network using software that installs in minutes and runs on their existing computer hardware.
TradeWeb's average daily trading volume is over $20 billion and has reached more than $32 billion on busy days. Since inception, TradeWeb has completed more than one million transactions between dealers and institutional investors.
Headquartered in New York, TradeWeb LLC is a leading developer and operator of online fixed-income markets with more than 5,000 users in twelve countries. TradeWeb's unique multi-dealer trading model links 15 of the world's leading dealers of fixed-income securities to nearly 800 investment firms in North America and Europe. For more information on TradeWeb, please visit the company's website at www.tradeweb.com or contact John Demitroff at 201/499-4076.