TradeWeb, a Web site devoted to bond trading, Thursday
announced that Barclays Capital has become the latest participant in its network.
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 one of the few Web sites focusing exclusively on bond trading. Barclays
Capital Chief Executive Thomas L. Kalaris said the company chose to work with
TradeWeb because of its niche in the market.
“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.
