BARCLAYS TAKES MINORITY STAKE IN TRADEWEB

Posted September 10, 2009

JERSEY CITY, N.J. – Barclays Capital, the investment banking division of Barclays Bank PLC, has taken a minority equity stake in Tradeweb, a global provider of online markets. In connection with the transaction, Tradeweb majority owner Thomson Reuters and its dealer-owners will invest an additional $68 million in total, reinforcing their commitment to Tradeweb’s electronic markets.

“Partnering with Tradeweb underscores the firm’s commitment to delivering best-in-class service, liquidity and reliability in the electronic trading space to our clients,” says Harry Harrison, Head of Rates at Barclays Capital. “Our stake in Tradeweb also complements our strategy for improving market efficiency and transparency alongside our market-leading electronic trading platform, BARX.”

In total, more than 35 dealers provide liquidity to Tradeweb’s online fixed-income and derivatives markets. Barclays Capital’s investment reflects the continued expansion of the Tradeweb business since January 2008, when Thomson Reuters and nine banks completed a capital restructuring of the firm.

“This investment is not only great news for Tradeweb, but can be seen as further validation of electronic trading in general,” says Lee Olesky, CEO of Tradeweb. “Barclays Capital is a world-class investment bank, with a leading position in online trading established over many years, including as a liquidity provider for 14 markets on Tradeweb.”

Tradeweb’s active bank investor group now comprises: Bank of America/Merrill Lynch, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley, RBS and UBS.

“This business is built on relationships and Barclays Capital has some of the best in the industry,” says Billy Hult, President of Tradeweb. “One reason is that the bank has long recognized how online trading can benefit clients by providing improved price transparency, speed of execution and more streamlined post-trade processing.”