Chats Is Live -- And Traders Take A Cautious First Look
THIS WEEK'S LEAD STORIES
When Chapdelaine & Co. GS's CHATS system went live last March, it was the first fully automated trading system for U.S. government securities to make it past the planning stage. Two months later, CHATS is getting mixed reviews from traders at the 38 primary dealers in government securities that are testing the system.
Some are enamored by CHATS low commission rates, but complain about the system's lack of liquidity. Others resent the clerical overtones of CHATS operation. Traders normally place
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