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e-trading: Dealers hedge themselves

TradeWeb sells minority stake to nine banks, as LiquidityHub gets going.

In October, Thomson Financial finally revealed that nine dealer banks had bought a minority stake in its TradeWeb debt trading platform. The move, one of the worst-kept secrets in the trading technology sector (see The coming revolution in fixed income e-trading Euromoney, August 2007), gives strong signals about future likely distribution channels of fixed-income product. Furthermore, it bolsters TradeWeb’s position just as another dealer consortium – LiquidityHub – gets up and running. LiquidityHub started trading interest rate swaps late last month. Strictly speaking, it is not a trading platform; its purpose is to pool dealer liquidity in various fixed-income sectors. LiquidityHub has struck distribution deals with Bloomberg and Reuters.

"What this partnership does is it positions us to take the business forward in the context of technology’s growth in the financial services space" Lee Olesky, Thomson TradeWeb

Lee Olesky, Thomson TradeWeb

Lee Olesky, president of Thomson TradeWeb, says: "For TradeWeb, this positions us as a solution for multi-asset class trading. We started this business a little over 10 years ago – and we have been growing asset classes and customers at a fairly significant pace.

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