Through TradeWeb, Wachovia Securities now provides institutional investors deep liquidity across the range of actively traded TBA-MBS products. Currently, more than 350 major mortgage-backed institutional investors use TradeWeb to execute a significant portion of their TBA-MBS trades. In August alone, nearly $800 billion in volume traded over TradeWeb's TBA-MBS platform - a new monthly record.

Wachovia Securities is the 16th dealer to join the TradeWeb TBA-MBS dealer group, which includes Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Citigroup, Morgan Stanley, Deutsche Bank, JP Morgan, Greenwich Capital, ABN AMRO, Bear Stearns, UBS Investment Bank, Banc of America Securities, Countrywide Securities, and Freddie Mac SS &TG. According to Greenwich Associates, this group of dealers collectively handles over 97% of all secondary trading volume in the mortgage pass-through market.

Jim Toffey, CEO of Thomson TradeWeb commented, "We are very excited to be working with Wachovia Securities as it strengthens its customer franchise on TradeWeb. Demand for electronic trading and processing continues to surge among mortgage investors and Wachovia is now in an excellent position to capitalize on this growth".

"Wachovia Securities is deeply committed to leveraging technology in providing its customers with the best possible service and liquidity," said Mike Lawroski, Head of Global Rates at Wachovia Securities. "Participating on TradeWeb's TBA-MBS platform provides our firm with a great opportunity to further improve our service through efficient trading and online processing."

TradeWeb's TBA-MBS platform continues to experience extraordinary growth. The average monthly volume for the last three months stands at $730 billion, up 31% from the same period last year. Greater acceptance of electronic trading among institutional investors and dealers is contributing significantly to this growth. Now trades of more than $250 million or greater account for more than 50% of TradeWeb's TBA-MBS volume.