Source: Barclays Capital
Tradeweb, a leading provider of online markets for institutional investors and dealers, announced today that Barclays Capital has gone live as a dealer on Tradeweb's U.S. Commercial Paper marketplace. Effective immediately, Barclays Capital will be providing clients online access to new issues and inventory, as well as live commentary on the market. This move is part of the integration of Lehman Brothers' North American businesses with Barclays Capital.
Tradeweb continues to build its commercial paper franchise, which was launched in 2001 as its first online money market. Since then, the CP business has rapidly expanded globally, with over $50 trillion of CP traded in the U.S. and Europe since launch. Clients have increasingly relied on Tradeweb as an industry pricing source and to directly trade commercial paper online using its flexible search engine to quickly filter and sort offerings.
The U.S. CP dealer group comprises: Bank of America, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Merrill Lynch and Morgan Stanley.
"We are delighted that Barclays Capital is providing its clients access to its commercial paper offerings over Tradeweb," said Erica Barrett, Director of U.S. Money Markets at Tradeweb. "Adding a bank of this stature to the dealer group further enhances Tradeweb's CP market, which has consistently provided the buy-side community with a cost-effective venue for accessing inventory using superior functionality."
"With the integration of Lehman Brothers' commercial paper desk, Barclays Capital has an even greater presence in this market and our participation in Tradeweb's online commercial paper marketplace provides our clients with enhanced services," said Eric Bommensath, Managing Director and Head of Fixed Income at Barclays Capital.
Tradeweb's commercial paper platform has played an important role in providing liquidity to market participants during the recent market turmoil, providing a high degree of price transparency, access to leading dealer inventory and fully-integrated trade processing.