Thomson TradeWeb and US financial services firm Fannie Mae have developed new technology that will enable institutional investors to trade Fannie Mae’s Discount Notes online through authorized dealers.
TradeWeb said that the enhancement would broaden the functionality on its Agency Discount Note (AND) platform, as it added primary offerings of Fannie Mae short-term securities to the existing universe of fixed income offerings online.
Robert Dolecki, director of short-term funding at Fannie Mae, said, This functionality provides investors a significantly easier way to view and trade Fannie Mae Discount Notes with our dealer group.
According to TradeWeb, transaction volume on its ADN platform jumped in 2005 to $2.3 trillion, a 59% increase over the previous year. Over 70% of volume traded came from trades of $100 million or more.