Source: Thomson TradeWeb
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 Piper Jaffray has gone live on TradeWeb Corporates as liquidity provider to institutional investors.
The firm's client-focused corporate bond sales and trading business offers coverage and liquidity in a wide range of credit sectors.
Since launching in June 2004, TradeWeb's corporate bond dealer group has expanded significantly. With the addition of Piper Jaffray, the group now consists of 12 of the leading corporate bond dealers, including Citibank, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank, FTN Financial, and Wachovia Securities. According to the Thomson Financial New Issue League Tables, TradeWeb's dealer group collectively underwrote over $32 billion of long-term high grade new issues done during the first two months of 2005 -- 78% of the total.
"Customers have been very clear in their desire to access Piper Jaffray's liquidity over TradeWeb," said Jim Toffey, CEO of Thomson TradeWeb. "We are very pleased that Piper Jaffray has joined TradeWeb as its exclusive electronic trading platform for corporates."
Momentum on TradeWeb Corporates has built rapidly with expanding dealer liquidity and the introduction of powerful new features. This fall TradeWeb launched its multiple security list functionality for electronically uploading, executing, and processing up to 30 buy and sell trades. It also recently launched its new Most Actives monitor which filters and summarizes live TRACE information by individual credit sectors and maturity. Currently, TradeWeb's 12 member dealer group provides liquidity to traders at more than 200 buy-side firms.