21 October 2017
visit www.atos.net

Dealerweb to take on Icap and BGC in electronic T-bill trading

28 May 2010  |  9030 views  |  0 keyboard

Bank-backed inter-dealer broker Dealerweb plans to take on Icap and BGC partners with the launch of electronic trading of US Treasury bills, according to a report in BusinessWeek.

Dealerweb, a TradeWeb subsidiary whose stakeholders include ten of the world's leading bond dealers, is moving into a booming market as the US Government borrows trillions of dollars to kick-start an economic recovery.

Icap, the world's largest inter-dealer broker, controls about 60% of electronic treasury trading through its Brokertec platform, while BGC Partners' eSpeed system claims about 40% of trading.

"We view our move into Treasury bills as an extension of what we're doing with mortgages and agencies," Billy Hult, president of Tradeweb, told BusinessWeek in an interview.

Dealerweb has already successfully snatched business away from Icap in the TBA morgage marketplace and anticipates a similar successful run in US T-bill trading.

Speaking at an anlyst presentation Thursday, Shaun Lynn, president of BGC Partners said Dealerweb would need to invest billions of dollars in computer processing, back office technology and screen real estate to play catch up with eSpeed and BrokerTec.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Icap shares slump on profit warning; announces acquisition of TriOptima

Icap shares slump on profit warning; announces acquisition of TriOptima

05 February 2010  |  8795 views  |  0 comments
BarCap takes minority stake in TradeWeb; unveils FX trading tools

BarCap takes minority stake in TradeWeb; unveils FX trading tools

11 September 2009  |  6762 views  |  0 comments
Tradeweb enters inter-dealer broker business

Tradeweb enters inter-dealer broker business

03 November 2008  |  6196 views  |  0 comments
Tradeweb boosted by money market trading

Tradeweb boosted by money market trading

14 August 2008  |  5230 views  |  0 comments
Banks back TradeWeb STP network

Banks back TradeWeb STP network

30 May 2008  |  6559 views  |  0 comments
Six bidding for European covered bond platform

Six bidding for European covered bond platform

16 May 2008  |  8012 views  |  0 comments
ESpeed shareholders approve BGC merger deal

ESpeed shareholders approve BGC merger deal

14 March 2008  |  4944 views  |  0 comments
Wall Street firms pay $180 million to buy back into TradeWeb

Wall Street firms pay $180 million to buy back into TradeWeb

11 October 2007  |  8641 views  |  0 comments
ESpeed shares plummet as BrokerTec beats patent claim

ESpeed shares plummet as BrokerTec beats patent claim

08 February 2005  |  11095 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10053 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8956 views comments | 13 tweets | 10 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
8954 views comments | 17 tweets | 21 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8041 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7724 views comments | 10 tweets | 22 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job