TradeWeb Volume Exceeds $70 Billion Per Day
Bond Network's Volume Surges on Heavy Trading in Nine Online Markets
JERSEY CITY, NJ, October 16, 2002 -- TradeWeb LLC, the leader in online fixed-income markets, today announced that its daily trading volume has soared past the $70 billion mark.
TradeWeb's multi-dealer, multi-product, global fixed-income trading platform links leading dealers to their institutional clients on an integrated electronic network. Current product offerings include U.S. Treasuries, U.S. agency debt, euro-denominated sovereign debt, Pfandbriefe, U.S. agency mortgage-backed securities, and commercial paper.
"Today's volume record underscores our increasingly vital role in the bond markets," said Jim Toffey, CEO of TradeWeb. "In periods of extreme volatility, institutional investors use our network to get fast, reliable access to the liquidity of the leading fixed-income dealers. TradeWeb now delivers liquidity for nine fixed-income markets across two continents - all on one screen."
TradeWeb LLC is the leader in online fixed-income trading with more than 2.5 million trades executed and total volume exceeding $16 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links nineteen of the world's leading dealers of fixed-income securities with more than 1,200 buy-side institutions in North America and Europe.
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.
The company also provides fixed-income market professionals with premier market data for the liquid fixed-income securities traded on its platform. Real-time market data is available either directly from TradeWeb over the Internet or through a data distribution agreement with MoneyLine Telerate.
TradeWeb is also a leader in electronic "straight-through processing" of fixed-income trades, providing dealers and customers with paperless trade allocations and confirmations on its fully integrated TradeXpressSM network. For more information about TradeWeb products and services, please visit the company's website at www.tradeweb.com or contact Tom Eady in the US at (201) 536-6580 or Helena Rowe in Europe at +44 (0) 20 7776 3263.