Muni Trading Site Adds Corporate Issues

September 16, 2002 ( - TheMuniCenter is moving beyond its name into trading corporate bonds as well as the municipals it has traditionally handled.

According to a Reuters news report TheMuniCenter chief executive Tom Vales said that institutions, including broker-dealer representatives and mutual funds, using his company’s electronic trading platform will see some 800 different corporate bonds alongside about 4,200 municipal bonds.

The online broker-dealer site allows traders with Web access to trade bonds anonymously in live transactions.

TheMuniCenter, launched in May 2000, is owned by the interdealer broker Chapdelaine & Co., bond insurer Financial Securities Assurance, and Wall Street banks Merrill Lynch & Co. Inc. Morgan Stanley, Citigroup Inc.’s Salomon Smith Barney, and Lehman Brothers Holdings Inc.