TradeWeb Adds Barclays to Bond Investment Site
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Barclays Capital joins fellow participants Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Salomon Smith Barney and Merrill Lynch as a primary dealer on TradeWeb's site.
"We are hitting critical mass," said Jim Toffey, TradeWeb's president and chief executive officer. "With eight primary dealers on our network, institutional customers now have access to the bulk of the Treasury market all on one online marketplace."
TradeWeb offers institutional customers real-time price information and trading for U.S. Treasury bills, notes, bonds, and STRIPs provided by major primary dealers. Its users can electronically request customized bids or offers from multiple dealers. They can instantly execute orders, send e-mail, online messages and get access to historical trading information.
"TradeWeb is quickly setting the standard for an efficient, liquid marketplace for online bond trading," he said. "We are committed to bringing the benefits of advanced technology to our clients. As an active participant in TradeWeb, we are doing just that."
TradeWeb currently has more than 500 users and had transaction volume of $170 billion in 1998. Access to the service costs $100 per month.