BondGlobe Introduces Internet Search Engine Delivering Wealth of Fixed Income Market Intelligence.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 20, 2000 BondGlobe, Inc. today announced the launch of a powerful new "Active Search Engine" called Bondglobe.com bringing information and price discovery to trading in fixed income instruments Fixed income instruments Assets that pay a fixed dollar amount, such as bonds and preferred stock. , the world's largest market for over-the-counter securities. BondGlobe, Inc.'s "Active Search Engine" links the traditional institutional bond trading desks and the emerging online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. systems. Broker dealers can use BondGlobe to find the best prices for bonds at the click of a button. "This is the fixed income market's next stop for more efficient price discovery and liquidity," said Lalit Narayan, president of BondGlobe. "The fact that we are a neutral third party tapping many pockets of fixed income liquidity leads to better executions as well." BondGlobe, Inc., of Princeton, NJ, developed the new "Active Search Engine" which is designed to deliver all the information required by a discerning investor for the entire range of fixed income instruments. BondGlobe, Inc. has filed for several U.S. patent applications relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc various techniques to link the various "pockets of liquidity" in the fixed income market. BondGlobe developed its technology platform during the past year with funding of some $2.5 million in seed capital provided by a small group of prominent investors, according to Mr. Narayan. BondGlobe, Inc. will act as a "neutral third party" in all transactions. BondGlobe believes that its neutral third party status will play a key role in the sustainability and scalability of its value proposition. BondGlobe will not act as a principal in any transactions and will confine its role to facilitating trades by providing a single source of comprehensive information on pricing, liquidity, risk, research and other data for making informed trades or purchases. BondGlobe is not a registered broker-dealer or investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and does not have affiliations with broker-dealers. Currently, Bondglobe.com links 21 separate broker-sponsored, online fixed-income trading platforms in the USA and Europe. Institutions currently testing the BondGlobe system include Zions, eBond, Allied Dunbar, Investec and BSPI International, among others, according to Mr. Narayan, and negotiations are underway with several other firms. The "Active Search Engine" employs a superior open-standard enabling technology powered by XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. . BondGlobe, Inc.'s "Active Search" mirrors the existing process of voice trading in bond markets. In addition to Mr. Narayan, other BondGlobe officers include David Laing, Chief Financial Officer, who also serves as Director of Eskmuir Properties, PLC; Sanjeev Balhara, who oversees product design and strategy; Dechu Muthana, who is responsible for product design and implementation; and Ian Hylander, who heads business development. Members of the firm's Advisory Board include: Mark Wainger, who until recently was Technical Director of Fixed Income at BARRA BARRA Bangladesh Rural Reconstruction Association , Inc.; Frank J. Fabozzi Frank J. Fabozzi is the Frederick Frank Adjunct Professor of Finance at Yale School of Management. He has taught at Yale University since 1994. Fabozzi, an investment management expert, is a Wall Street authority and editor of the Journal of Portfolio Management. , CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. and CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , who is editor of the Journal of Portfolio Management, an Adjunct Professor of Finance at Yale University's School of Management and a consultant in the fixed-income and derivatives area; Naveen Chaudhary, a research analyst at McDonald Investments, a KeyCorp subsidiary, is 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. ; and R. Neil Sudol, an attorney, is the intellectual property advisor for BondGlobe, Inc. "There is nothing else like Bondglobe.com in the market today," said Mr. Narayan, "and we are very encouraged by the favorable responses we are receiving from participants in the US as well as Europe. Our neutral third party approach allows us to partner with existing players in the fixed income markets in a non-threatening way and to bring price discovery to a new high." For more information, call 212/775-7311 or visit the firm's Web site at www.bondglobe.com. |
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