TradeWeb Partnership

Filed in archive Investing on October 11, 2007

Thomson Financial today announced it plans to form a Strategic partnership with nine of the world's leading global dealers including, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, The Royal Bank of Scotland, and UBS to drive the expansion of electronic trading using the TradeWeb platform.

Under the terms of the agreement, the dealers will invest approximately $180 million to purchase a minority stake in TradeWeb's established markets. Separately, Thomson and the dealers will fund additional investment in asset class expansion. Details here.

The transaction is expected to close in the next few months, pending regulatory approval. TradeWeb will maintain its global headquarters in Jersey City, NJ. Average daily trading volume on TradeWeb exceeds $250 billion.