TradeWeb launches online convertible trading

New York, May 9 - Thomson TradeWeb announced that its new dealer-to-customer online market for dollar-denominated convertible bonds is now live.

The company said its new system offers market data, access to dealer inventory and straight-through processing.

"Convertible bond clients can now benefit from fast and efficient access to deep dealer liquidity, while significantly lowering their operational risk and costs. We have partnered with a world-class group of dealers to create a business which benefits all parties," said Billy Hult, managing director and head of U.S. markets at Thomson TradeWeb, in a news release.

Convertibles is the firm's 17th online fixed-income market.

Dealers Citigroup, Lehman Brothers, Merrill Lynch and UBS are participating from the launch, along with buyside firms.

TradeWeb is a Jersey City, N.J.-based subsidiary of Thomson Corp.

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