Muni Trading Site Adds Corporate Issues
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.