Wirehouses Form Electronic Bond-Trading Systems

Published Tuesday, August 01, 2000

Several wirehouses have formed online bond-trading consortiums in the past few months in an attempt to compete with independent bond-trading Web sites. PaineWebber, Goldman Sachs and Spear Leeds & Kellogg were expected to launch a Web-based bond-trading system called BondDesk.com this month. The online marketplace shows the fixed-income inventories from the participating firms to both brokers and clients. BondDesk.com is being incorporated into PaineWebber's Edge online service. Edge clients will execute trades through the Bonds Online section. Buyers will not know whose inventory they are accessing. "I think it's a terrific idea," says one PaineWebber broker. "Bond buyers ...

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