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TradeWeb Europe Adds New Market Makers

[London, ENGLAND] TradeWeb Europe, which enables online trade in the sovereign debt securities market, Friday announced that three top market makers have agreed to take part.

ABN AMRO, JP Morgan and UBS Warburg will join existing dealers when TradeWeb Europe completes its beta test during the first quarter.

TradeWeb Europe is the European subsidiary of TradeWeb, LLC, which has positioned itself as the leader in online fixed-income markets. In the U.S., TradeWeb's platform also enables clients to trade U.S. Treasury and Agency securities and TBA mortgage pass-through securities (TBA-MBS).

Jim Toffey, president and chief executive of TradeWeb, LLC, said the European project, formed in 2000 to extend the TradeWeb brand to Europe, was off to a great start.

"Under the leadership of Roger Jones, our new CEO for Europe, the beta test for our Euro Sovereign market is exceeding our expectations and the addition of these three new dealers underscores our commitment to create the best online fixed income markets," said Toffey.

"The liquidity created through the combination of these dealers and the seven that are participating in the market's beta will create a powerful trading platform," Toffey added.

Already participating in the European beta are Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley and Salomon Smith Barney.

Steven Parker, European head of government sales at JP Morgan, said the added value of including Euro sovereign securities will enable JP Morgan to improve its service to its clients by providing the broadest range of options possible.

The TradeWeb markets are based on a common technological platform first introduced by the company in early 1998 for trading in the US Treasury market. Since then it has seen more than 800,000 trades executed with a total volume of over US $3 trillion.

Having made refinements to its platform over the past three years, TradeWeb now considers a European launch to be the next logical step. It formed TradeWeb Europe, based in London, in 2000. Since then it has been preparing for its official European launch, expected in the next few weeks.

Further information is available from www.tradeweb.com.