TradeWeb adds Fannie Mae securities to ADN platform
Thomson TradeWeb, a unit of The Thomson Corporation (NYSE: TOC - News; TSX: TOC), and Fannie Mae (NYSE: FNM) today announced new technology that will enable institutional investors for the first time to directly access and trade Fannie Mae's Discount Notes online through authorized dealers.
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This enhancement broadens the range of innovative functionality on the TradeWeb Agency Discount Note platform (ADN) by adding primary offerings of Fannie Mae short-term securities to the existing universe of fixed income offerings online. Institutional investors in the primary market can now take advantage of the full range of TradeWeb's award-winning trading and straight-through processing (STP) capabilities by working with select dealers on TradeWeb.
"This functionality provides investors a significantly easier way to view and trade Fannie Mae Discount Notes with our dealer group," said Robert Dolecki, Director of Short-Term Funding at Fannie Mae. "Additionally, the technology will increase the liquidity and transparency of our short-term securities."
"We highly value our relationship with Fannie Mae, and are delighted to have the company be the first agency to incorporate its securities into TradeWeb's ADN platform," said Erica Barrett, CP and ADN Market Manager at TradeWeb. "Fannie Mae, TradeWeb, dealers and clients will all benefit from this partnership."
Transaction volume on TradeWeb's ADN platform jumped in 2005 to $2.3 trillion, a 59% increase over the previous year. Over 70% of volume traded came from trades of $100 million or more.