Nomura Securities International joined as a liquidity provider for Tradeweb's leading online dealer-to-client TBA-MBS marketplace.
Nomura Securities will be providing clients online access to TBA trading and liquidity via Tradeweb. This is part of the effort to expand Nomura's U.S. fixed income operations.
The TBA MBS marketplace is Tradeweb's biggest, with average daily trading volumes of more than $70 billion in 2009, increasing 6% from 2008 year-to-date. Nomura is the 12th dealer to provide liquidity to this marketplace.
Tradeweb's mortgage market was launched in February 2001. The online platform provides various services to institutional clients such as access to real-time dealer pricing and seamless trade processing.
The dealers providing liquidity on Tradeweb's mortgage marketplace are: Bank of America, Barclays Capital, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley, Nomura Securities, RBS, and UBS.
"We are excited that Nomura Securities will provide clients with access to TBA trading and market making over Tradeweb," said Billy Hult, president of Tradeweb. "Adding a liquidity provider of Nomura's stature is a welcome expansion of Tradeweb's elite dealer group and is a statement of Nomura's commitment to the U.S. TBA markets."
"Nomura is committed to delivering market-leading product expertise and trading liquidity across the U.S. fixed income markets. Delivering timely and competitive TBA liquidity is a cornerstone to this development," said Charlie Spero, managing director and co-head of U.S. fixed income at Nomura Securities.
"We are excited to provide competitive real-time liquidity solutions for our TBA customers, both in the U.S. and globally," said Michael Cudzil, managing director and head of TBA trading at Nomura Securities. "Our clients demand the efficiency benefits of electronic trading, as well as instant access to liquidity."