Barclays Capital joins TradeWeb ADN dealing platform
TradeWeb, the leading dealer-to- customer fixed-income trading network, announced today that Barclays Capital has joined as a dealer on its Agency Discount Note (ADN) trading platform. Barclays is the ninth dealer to join TradeWeb's premier ADN dealer group, which includes Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Citigroup, Morgan Stanley, Deutsche Bank, and JPMorgan. Barclays began making markets for its ADN customers over TradeWeb yesterday.
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Jim Toffey, CEO of TradeWeb, said: "As a major global bank, Barclays Capital provides Agency Discount Note investors with another deep source for liquidity in this growing market".
"Barclays Capital is pleased to add ADNs to our product capabilities on TradeWeb," said Randy Sides, Head of e-Commerce, Americas, at Barclays Capital. "Our global footprint and distribution capabilities are greatly reinforced by the ability to offer ADNs to the full spectrum of our client base, including money managers, asset managers, pension fund managers, hedge funds and banks."
Since the launch of ADNs on TradeWeb, more than $1.3 trillion in volume has been traded over the platform. During the 1st quarter of 2004, more than $255 billion in ADN's traded, up 16% from the previous quarter.