Multi-Dealer Trading Platform for TBA-MBS

May 8, 2001 ( - TradeWeb LLC, an online bond market, has opened its trading platform for TBA Mortgage-Backed Securities (MBS), the most liquid sector of the mortgage-backed securities market.

Global institutional investors can now simultaneously access all TradeWeb’s MBS dealers including :

  • Credit Suisse First Boston
  • Deutsche Bank
  • Goldman Sachs
  • Lehman Brothers
  • Merrill Lynch
  • Morgan Stanley
  • Salomon Smith Barney

The launch follows a two-month trial, during which approximately 40 institutional investors and dealers traded 30-year and 15-year fixed-rate TBA-MBS.

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Trading volume during the trial exceeded $45 billion, with an average trade size of over $25 million.

Subscribers will have access to live two-sided pricing for the TBA coupon curve directly from the dealers. TradeWeb displays the best bid and offer price for each security on pricing screens.