Alliance Announces Formation of BondBook
ATS/ECN UPDATED
NEW YORK--Three of the biggest US bond dealers--Goldman Sachs, Merrill Lynch and Morgan Stanley Dean Witter--have partnered to create an electronic bond trading system they hope will have the liquidity to survive the trading technology dinosaur.
Their venture company, called BondBook, plans to launch in the fourth quarter, trading corporate, junk and municipal bonds for secondary and new issues to qualified institutional investors. BondBook’s credit support, "significant" initial trading activity
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