Bear Stearns, Chase and J.P. Morgan Partner With MoneyLine for Fixed Income Trade Execution and Distribution of Content Over the Internet.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 14, 2000 MoneyLine to Develop and Host Electronic Trading System The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. for Market Axess MoneyLine Network, Inc., the Internet's leading provider of interactive electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. applications and financial content, today announced that it has partnered with Market Axess, a venture formed by Bear, Stearns & Co, The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. and J.P. Morgan, to create the Internet's largest fixed income platform for connecting institutional investors and securities dealers. MoneyLine's real-time Internet platform technology will be used by Market Axess as its channel for distribution of content and trade execution of fixed income securities. Additionally, Moneyline will develop, host and support all of the customized trading engines used for Market Axess. "We are excited to participate with Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. , Chase and J.P. Morgan in the deployment of this financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. e-commerce initiative," said Jon Robson, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MoneyLine. "MoneyLine will add further value by providing immediate access to complementary services from our other benchmark content partners, creating compelling trading services for Market Axess clients." MoneyLine is a proven financial applications service provider with a track record of delivering financial trade execution services that create liquidity in fixed income markets. Larry Ng, co-founder of MoneyLine, leads the MoneyLine project team. Mr. Ng and the MoneyLine development team are best known for their work with the creation of several of the market's most successful trading systems. MoneyLine Network, Inc. was founded in March 1998 to become the digital dial tone for the global financial community. Through its core product, the MoneyLine Service, the Company delivers a compelling value proposition to Capital Markets participants worldwide. Employing an open software platform, the service is delivered directly to customers' desktops over the Internet. Through a simple, intuitive and easy-to-install browser interface, the "MoneyLine Viewer", customers log onto MoneyLine as their online window to the world's financial markets. MoneyLine offers an affordable and flexible "made-to-order" container, providing access to high quality, real-time market data, news, commentary and e-commerce electronic trading applications for the end user. In 1999, Bear Stearns, Chase and J.P. Morgan collectively underwrote $219 billion of the total $1.57 trillion that was raised in the fixed income markets that Market Axess will be targeting, representing a market share of 14 %. Corporate bond trading is expected to start in the second quarter of 2000, with high yield, emerging market, agency and municipal bonds being added thereafter. About J.P. Morgan: J.P. Morgan is a leading global financial services firm that meets critical financial needs for business enterprises, governments, and individuals. The firm advises on corporate strategy and structure, raises capital, makes markets in financial instruments, and manages investment assets. Morgan also commits its own capital to promising enterprises, and invests and trades to capture market opportunities. About The Chase Manhattan Corporation: The Chase Manhattan Corporation, with more than $370 billion in assets, is one of the world's premier financial services institutions, with operations in 48 countries around the globe. Chase has a top-tier ranking in all areas of investment banking, private banking, trading, and global markets activities, as well as information and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . Chase is a leading provider of financial solutions to large corporations, financial institutions, government entities, middle-market firms, small businesses, and individuals and has relationships with more than 30 million consumers across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. through products and services such as credit cards, mortgages, online banking, debit cards, deposit products, and auto loans. Chase can be reached on the Web at www.chase.com. About Bear, Stearns & Co. Inc.: Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the and brokerage firm, is the major subsidiary of The Bear Stearns Companies Inc. With approximately $21.4 billion of total capital, Bear Stearns serves governments, corporations, institutions and private investors worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, foreign exchange and futures sales and trading, asset management, and custody services. Through Bear, Stearns Securities Corp., it offers professional and correspondent clearing, including securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has over 10,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Shanghai, Singapore, and Tokyo. About MoneyLine Network, Inc.: MoneyLine is a leading provider of real-time, interactive information to financial professionals across the Internet. Content partners include Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July , GovPX, Garban, Thomson Global Markets, Intercapital, S&P, and global exchanges. Customers are able to receive and distribute proprietary information without the expense of dedicated terminals. The firm, established in 1998, is headquartered in New York City. For more information, please visit the company's website at www.moneyline.com |
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