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Stop Press: Nine Global Dealers Invest in TradeWeb

At 01 Oct 2007 13:15:00 in ET-News in Brief, ET-Trading Technology, Electronic Trading    Print Article  Email Article   Full content requires subscription 

As Electronic Trading went to press it emerged that electronic fixed income trading network TradeWeb – acquired by Thomson Financial in 2004 – had been bought back into by nine global dealers. This move comes in advance of the closure of the proposed Reuters/Thomson merger (the validity of which under competition laws has recently been questioned by the EU). The deal is being described as a strategic partnership between the nine (Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, The Royal Bank of Scotland and UBS), which have invested some $180 million to purchase a minority stake, and Thomson Financial. Under the terms of the agreement, Thomson Financial will contribute its equity trading-related assets, including AutEx and the Thomson Order Routing network, to TradeWeb and will become a preferred distributor of TradeWeb’s market data.

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