The Thomson Corporation’s leading online marketplace for fixed income and derivatives, Thomson TradeWeb, has acquired LeverTrade LLC, a provider of web-based fixed-income management systems for the retail marketplace.
Through LeverTrade’s retail fixed-income marketplace, financial advisors and retail representatives from leading firms search commingled inventory from over 30 broker-dealers and generate orders that flow to their internal trading desks. LeverTrade will be re-branded TradeWeb Retail.
This acquisition is part of Thomson TradeWeb’s accelerated build strategy in retail fixed-income trading. Using LeverTrade as the core technology for TradeWeb Retail, Thomson TradeWeb will leverage its operations and technology with Thomson Financial’s wealth management footprint and back-office services to rapidly scale the retail fixed income business.
Entering into retail fixed income is the logical next step for us, said Jim Toffey, president of equities, fixed income, and retail wealth for Thomson Financial. Acquiring LeverTrade, a company with proven retail fixed-income trading technology, coupled with TradeWeb’s existing dealer relationships and Thomson Financial’s presence in the retail wealth market, allows us to build out our strategy to be the one-stop destination for all electronic fixed-income trading.