State Street has added an electronic fixed income trading system to its Global Link e-finance platform for institutional investors.
The new system, developed by Visible Markets, is a price-transparent, auction marketplace that enables institutional investors to anonymously access prices and buy and sell bonds in real-time. State Street customers will be able to use the platform to trade mortgage-backed securities, asset-backed securities, commercial mortgage-backed securities and investment-grade corporates.
Global Link serves as the central network for introducing new e-finance applications and services to State Street customers. The system currently provides over 258 asset management companies in 21 countries with research, analytics and trade execution services across multiple assets and markets.
Visible Markets is the latest addition to the Global Link family of products, which currently includes: a trade order management system from Eze Castle Software; State Street's proprietary equity trading product called Lattice; Fund Connect, an online trading tool for the subscription and redemption of units in proprietary and third-party money market and investment funds; foreign exchange products, including FX Connect and Quick FX trading products; and most recently State Street's fixed income system, Bond Connect. Operating as a multi-security call auction, Bond Connect aggregates liquidity in an anonymous trading environment to deliver execution of single securities, swaps and portfolio orders.
Brian Robertson, CEO of Visible Markets, comments: "By offering our system over this well-established platform, we will reach the institutional investors around the world who contribute to the over $400 billion of daily trades in the bond market, and who, in increasing numbers, appreciate the greater liquidity and price transparency provided electronically through online auctions."