Thomson TradeWeb reports that more than $9 trillion in total volume was executed by its online market participants. This is a 69% or $3.7 trillion increase more than the volume executed during the first quarter of 2004. TradeWeb attributes this growth to a surge in online trading activity in multiple products, most notably in TBA-MBS, Treasuries, Money Markets, and European Governments.
“TradeWeb is now the online marketplace where investors regularly execute their largest trades,” said Jim Toffey, chief executive officer of Thomson TradeWeb. “In fact, during this past quarter nearly 60% of TradeWeb’s trade volume came from transactions of greater than $100 million in value. Also, we recently saw a record switch trade that exceeded $5 billion.”
TradeWeb is seeing expansion in Europe as well. Lee Olesky, president of Thomson TradeWeb said, “We have strengthened our position in Europe with growth in trading volumes and the launch of new products, such as Interest Rate Swaps. We are very excited about our first effort in the derivatives space and initial customer feedback has been very positive. In addition, our customer and dealer base has expanded, with 28 dealers now making markets on the European platform for customers located in 33 countries around the world.”