Thomson said its electronic TBA-MBS platform will allow HSBC to join other institutional investors and mortgage originators in accessing the liquidity of 18 dealers and trade more than $60bn in volume each day.
Todd White, managing director of mortgage trading at HSBC, said he sees the participation in TradeWeb’s TBA-MBS dealer group as a natural fit with our growing business and approach in servicing customers.
TradeWeb TBA-MBS marketplace reported monthly volume of $1 trillion in January, attributing the growth to continued acceptance of electronic trading among major mortgage investors and dealers. As well as HSBC, the company said, four new dealers have joined the platform over the last 12 months, expanding the liquidity that TradeWeb users can now access over the platform.
In addition to its presence on TradeWeb’s MBS marketplace, HSBC also provides liquidity over seven other TradeWeb markets including US treasuries, US agencies, corporate bonds, European government bonds, supranationals and, most recently, interest rate swaps.
