Fully Automated Bond Trading System Launched
Page 1 of 1
With a focus on illiquid corporate, emerging-markets, and high yield debt, buyers and sellers can sign onto the trading desk interface and negotiate secondary bond trading transactions online. Billings were not disclosed.
"LIMITrader's service is the first completely automated bond trading system," said Bryan Thatcher, CEO of Twelve Point Rule. "It's also the first system to allow for completely anonymous trades. Even the trading desk doesn't know who the users are until the trade is executed. "
Secondary brokerage services of all corporate bonds will be offered, including medium-term notes.
LIMITrader Securities is led by Don Weeden of Wit Capital.
"Twelve Point Rule was the obvious choice of a partner to bring LIMITrader to the Web," said Jim Kopley, vice president of marketing for LIMITrader. "They've already proven their design and branding abilities of mutual funds servicing online with their five sites for the Chase Global Mutual Funds group. We also appreciate that they've been in business for a long time and we can count on them to continue to be there for our Internet development needs as we grow."