TradeWeb said it is collaborating with the companies to develop the product, which is expected to launch in Europe and the US in the second half of 2005.
The new online market for credit default swap (CDS) indices will allow institutional investors to simultaneously request quotes from dealers electronically and move from trade execution to electronic processing using TradeWeb’s TradeXpress network.
Jim Toffey, CEO of Thomson TradeWeb, commented: By partnering with the major CDS liquidity providers, we are now executing on the significant opportunity to provide value for market participants in this rapidly growing asset class.
According to TradeWeb, the new platform addresses what it sees as the need for efficiency across the trade cycle in the OTC derivatives market by reducing operational risk in the post-trade environment.
