Thomson TradeWeb, the fixed income and OTC derivatives trading platform, has launched a new European cash credit electronic trading platform.
TradeWeb says that, after a thorough review with both the buy and sell-side of system functionality and requirements, it has developed a platform which brings to the market significant additional features and capabilities, designed in response to requests from institutions and dealers.
Thomson TradeWebs platform offers fixed and floating investment grade securities in Euros, Sterling and US Dollars.
Dealers providing liquidity on the new credit platform include ABN AMRO, Barclays Capital, Credit Suisse, HSBC, Morgan Stanley, The Royal Bank of Scotland, Socit Gnrale and one other dealer. Citigroup and Merrill Lynch are among an additional group of dealers who are planning to join the platform in the coming months.
European Credit is a natural extension of our existing offering, and client demand has been remarkable,” says Lee Olesky, President of Thomson TradeWeb. “To be able to bring together the needs of both the buy and sell-side in the Credit markets creates an excellent opportunity for the market as a whole.
Reinhardt Damm, Head of the Buy-side Execution Desk at Metzler Investment GmbH, says that the TradeWeb European Credit platform “looks like it will add benefits to what is currently available, and will fit well with our STP solution”. Per Moller, Head of Trading and Execution at Nordea Investment Management, adds that “the convenience of adding credit to TradeWeb’s existing rates and derivatives platform is very useful for us.” Ulrich Faupel, Head of Trading at WestLB Mellon Asset Management, describes the new platform as “an exciting development for us.