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Article: Online Trading: BondBook Suspends Commissions to Stimulate Liquidity.
- Article from:
- The Bond Buyer
- Article date:
- September 25, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BondBook has suspended its commissions to further stimulate increased liquidity in fixed-income markets in the wake of the World Trade Center and Pentagon attacks.
"We are deeply saddened by the attacks and the losses suffered by our neighbors and heroic rescue personnel," said John Kim, president and chief executive of the online bond trading platform, in a company statement released last week.
"Fortunately all our employees arrived home safely, where, in turn, they mounted an around-the-clock effort to get the system up for live trading on Sept. 17 ."
Commissions paid to BondBook are split between the party making the sale and the party ...