In another sign the battle among Internet brokers is likely to continue unabated, Discover Brokerage Monday added online municipal bond trading.
The addition gives the brokerage’s customers the ability to buy and sell municipal bonds and receive current price quotes.
Tom O’Connell, Discover Brokerage’s executive vice president, said the addition will give investors the ability to trade bonds at their convenience while being assured they are receiving the correct purchase and sale prices.
“Many of today’s investors are looking for tax-advantaged investment options, such as muni bonds, to balance out their portfolios. And they want to invest at a time that’s right for them,” he said.
Discover is drawing on the resources of its parent, Morgan Stanley Dean Witter, to offer the real-time data. Morgan Stanley maintains a worldwide trading network that allows its clients to obtain updated pricing information and gives them instant access to the bond markets.