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Banc of America Securities Limited is the newest dealer participant on TradeWeb's electronic trading platform for European Government Bonds.
The firm currently supports US products including Treasuries and Agencies, Commercial Paper and TBA-MBS. Banc of America Securities Limited also offers US Treasuries on TradeWeb during the European morning, putting it ahead of the US market open by several hours.
Trading volumes in European Government Bonds reached a record EUR 1.73 trillion in 2005 due to a growing numbers of clients. Nearly 500 institutions traded European Government Bonds online last year, affirming TradeWeb as the institutional marketplace of choice.
'Bank of America is one of our longstanding dealers and their expansion into our European product offering is affirmation of the advantages that TradeWeb brings to investors operating in an increasingly global marketplace,' says Lee Olesky, President of Thomson TradeWeb. 'TradeWeb continues to build one of the most liquid marketplaces for European and US fixed income securities and we're delighted our customers can benefit from an expanding liquidity pool for our spectrum of bonds and derivatives products.'
Alastair Hollingdale, Head of EMEA Rates Trading at Banc of America Securities Limited, says: 'We have found TradeWeb's electronic network for US products quick, efficient and beneficial to our customers. It is only natural that we utilise their European Government Bonds network as part of our continued commitment to growth across Europe.'
Background notes: TradeWeb is the leading online fixed-income trading network with over 9 million trades executed and total volume surpassing USD 125 trillion since its inception in 1998. TradeWeb's multi-dealer auction model now links 36 of the world's leading fixed-income dealers with more than 2,200 buy-side institutions in Europe, North America and Asia. Over USD 200 billion in trading volume gets executed over TradeWeb each day.
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 TradeXpress network. TradeWeb's STP network also includes AccountNet, the leading standard settlement instructions database and first counterparty management tool for the dealer-to-customer interest rate derivatives online marketplace. TradeWeb is also the leading innovator in the institutional fixed-income markets for best execution and compliance measurement and benchmarking.
Thomson TradeWeb operates within the Thomson Financial group of businesses. TradeWeb LLC is a member of the NASD. TradeWeb Europe Limited is authorised and regulated by the UK FSA.
Thomson Financial is a USD 1.9 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 global leader in providing integrated information solutions to more than 20 million business and professional customers in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With revenues of USD 8.7 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the company's services to corporate and institutional clients are provided through its US and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. Issued and approved by Banc of America Securities Limited. Banc of America Securities Limited is a wholly-owned subsidiary of Bank of America, NA and is authorised and regulated in the United Kingdom by the Financial Services Authority. For additional information, visit www.bankofamerica.com
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