HSBC Securities joins TradeWeb's TBA-MBS marketplace

Source: Thomson Financial

Thomson TradeWeb, part of The Thomson Corporation (NYSE: TOC; TSX: TOC), a leading global provider of integrated information solutions to professional customers, announced today that HSBC Securities (USA) Inc. has started providing liquidity in TBA-MBS securities for its customers over TradeWeb.

TradeWeb is the leading dealer-to-customer online marketplace for fixed-income. In addition to its presence on TradeWeb's MBS marketplace, HSBC also provides liquidity over seven other TradeWeb markets; US Treasuries, US Agencies, Corporate Bonds, European Government Bonds, Supranationals, Pfandbriefe/Covered Bonds, and most recently Interest Rate Swaps.

By joining TradeWeb TBA-MBS, HSBC enters the leading electronic MBS marketplace where major institutional investors and mortgage originators access the liquidity of 18 dealers and trade more than $60 billion in volume each day. Other members of TradeWeb's TBA-MBS dealer group include: Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Citigroup, Morgan Stanley, Deutsche Bank, JPMorgan, Greenwich Capital, ABN AMRO, Bear Stearns, UBS Investment Bank, Banc of America Securities, Countrywide Securities, Wachovia Securities, Barclays Capital, and WaMu Capital Corp.

"We are excited about the addition of HSBC to our TBA-MBS marketplace," said Jim Toffey, Chief Executive Officer of Thomson TradeWeb. "With another record month and the addition of another dealer to our MBS marketplace, TradeWeb continues to build momentum and solidify its position as the leading electronic marketplace for the TBA-MBS market."

Todd White, Managing Director and co-head of Mortgage Trading at HSBC, added, "HSBC is committed to building a world class mortgage franchise that centers on providing clients with superior service and liquidity. We see our participation in TradeWeb's TBA-MBS dealer group as a natural fit with our growing business and approach in servicing customers."

TradeWeb TBA-MBS marketplace continues to grow at a rapid rate. Monthly volume topped $1 trillion in January. Contributing to this phenomenal growth is the continued acceptance of electronic trading among major mortgage investors and dealers. During the last 12 months four new dealers including HSBC joined TradeWeb's TBA-MBS marketplace which has significantly expanded the liquidity that TradeWeb users can now access over the platform.

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