UBS Investment Bank Joins TradeWeb’s New Corporate Bond Marketplace
--Another Major Dealer Joins this Fast Growing Online Marketplace --
Jersey City, NJ (August 3, 2004) - TradeWeb, the leading dealer-to-customer fixed-income trading network, announced today that UBS Investment Bank (NYSE: UBS) has gone live on its new multi-dealer corporate bond platform. UBS brings to TradeWeb's new corporate bond marketplace deep liquidity in a wide range of investment grade corporate bonds. It joins six other major corporate bond dealers, including Citibank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, and Morgan Stanley in providing liquidity for more than 150 of the largest and most active credit investors.
With UBS joining TradeWeb's corporate bond platform, investors now have access to the dealers that collectively managed nearly 75% of the year-to-date high grade new issue volume according to Thomson Financial (NYSE: TOC; TSX: TOC) and 75% of the secondary trading volume as reported by Greenwich Associates.
"As dealers and their customers come to fully appreciate TradeWeb's superior design, content, and economics, the choice to participate is very compelling," said Jim Toffey, CEO of TradeWeb. "Like with every other asset class we have online, we build a platform that leap frogs the competition's current offering."
TradeWeb's new corporate bond platform is the most advanced online marketplace for corporate bond investors available today. It is the only platform to fully integrate TRACE data into a trader's workflow and to allow buy-side investors to commingle up to 30 buy and sell trades on a single electronic Bid andamp; Offer List. TradeWeb's STP network also provides the buy side with the ability to electronically allocate and confirm a significant portion of their fixed-income trade processing on one efficient network. Moreover, it is the only straight through processing solution that allows electronic allocations and confirmations for both electronic and phone executed trades.
About Thomson TradeWeb
Thomson TradeWeb operates TradeWeb the leading online fixed-income trading network with over 5 million trades executed and total volume surpassing $50 trillion since its inception in 1998. TradeWeb's multi-dealer auction model links 27 of the world's leading dealers of fixed-income securities with more than 1,500 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 TradeXpressSM network. Thomson TradeWeb's STP network also includes AccountNetÒ, the leading standard settlement instructions database.
Thomson TradeWeb operates within the Thomson Financial group of businesses.
For more information about TradeWeb products and services, please visit the company's website at www.tradeweb.com or contact Jack Mahoney at (201) 536-5878.
About Thomson Financial
Thomson Financial is a US$1.5 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 leading provider of value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With revenues of US$7.6 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC.)