Capitalink Future Unclear As J.P. Morgan Pulls Out
THIS WEEK'S LEAD STORIES
The CapitaLink Bond Auction System last week reportedly lost the backing of a major shareholder, the prestigious commercial bank of J.P. Morgan & Co. The pullout may spell the end of the 15-month-old electronic bond auction system, which was developed by New York-based CapitaLink Securities Corp.
CapitaLink is similar to a dialup electronic Dutch auction. It was designed to allow corporations issuing bonds to sell directly to institutional investors, thus leaving Wall Street's big underwriting
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