Tradeweb, a leading global provider of online markets, today announced that Jefferies has joined as a liquidity provider for its leading online US Treasury and European government bond marketplaces.
This follows the recent appointment of Jefferies as an official member of the Federal Republic of Germany's bidding group, a Gilt-edged Market Maker (GEMM) jointly by the UK Debt Management Office and London Stock Exchange, a Dutch Primary Dealer by the Dutch State Treasury and as Primary Market Operator (OMP) and Treasury Bill Specialist by the Portuguese IGCP. Jefferies has been a Primary Dealer in the US since June 2009.
"We are delighted that Jefferies has joined Tradeweb's flagship government bond marketplaces," said Billy Hult, President of Tradeweb. "Their primary dealer status in so many key markets makes them an important addition to our powerful dealer group and further enhances access to the highest levels of liquidity for our client base."
"The decision to target a number of primary dealerships across Europe and to join Tradeweb represents an important milestone for Jefferies," said Emanuele Caloia, Managing Director and Head of Fixed Income e-Trading at Jefferies. "Geographic expansion is a strategic priority for the business. By joining Tradeweb, we have opened up an essential distribution outlet for European government bonds to the global Jefferies client base."
"As a Primary Dealer, Jefferies is committed to providing our customers with the most efficient access to liquidity, and electronic distribution is a crucial component," said Chris Bury, Global Co-Head of Rates at Jefferies. "Tradeweb's leading market position enables us to immediately expand our footprint as a market maker in Treasuries around the world."
Tradeweb's US and European government bond markets were launched over 10 years ago. The online platform offers increased efficiencies to over 1300 institutional clients across the US, Europe and Asia. This includes broad access to real-time dealer pricing from 15 leading dealers for Treasuries and 27 for European government bonds, as well as seamless straight-through processing. In 2009, Tradeweb introduced Tradeweb PLUS for European government bonds, an innovative trading protocol which provides clients streaming, real-time executable dealer prices, further improving speed of execution and the quality of price discovery.