Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc., has gone live as a liquidity provider for Thomson TradeWeb’s online corporate bond marketplace. In doing so, the firm becomes the thirteenth dealer to join as a liquidity provider for institutional customers, according to Thomson.
Since the beginning of 2005, Wachovia Securities, Piper Jaffray, Deutsche Bank, and now Jefferies all started providing liquidity for their corporate bond customers over TradeWeb. The other nine members of TradeWeb’s corporate bond dealer group include Citibank, Goldman Sachs, HSBC, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank, and FTN Financial.
“Jefferies on TradeWeb brings investors another great source for high quality service, deep liquidity, and electronic trading expertise,” said Jim Toffey, CEO of Thomson TradeWeb. “We are also very pleased that Jefferies is among the growing group of dealers that have chosen TradeWeb as a prominent third-party provider for electronic trading in corporate bonds.”
James Nealis, a Managing Director in Jefferies’ Bonds Direct unit added, “Jefferies’ participation on TradeWeb further demonstrates our strong commitment to leveraging technology in providing the most efficient and highest quality service for our customers. We have been at the forefront of the electronic trading trend in corporate bonds, and this move to TradeWeb significantly enhances our platform.”