Credit Suisse First Boston Invests in Trading Edge, Inc.Business Editors NEW YORK--(BUSINESS WIRE)--December 27, 1999 BondLink(TM)Trading System Poised to Deliver Greater Liquidity Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. today announced it has reached an agreement to invest in Trading Edge, Inc., a fixed-income securities broker and creator of BondLink(TM), the first real-time, fully secure bond trading system offering anonymity and price transparency. Under the terms of the agreement, Credit Suisse First Boston will invest in Trading Edge and acquire an equity position. This relationship will enhance Trading Edge's leadership position as the first service for trading high-yield bonds over the Internet. Trading Edge plans to expand these services into municipal and convertible bonds, as well as emerging market debt after January 1. "We view CSFB's investment in Trading Edge as a strategic relationship that underscores our view of the role electronic trading services, such as BondLink, will play in the future of fixed income trading," said Ben Cohen, a CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank Managing Director and Head of the Firm's Fixed Income and Derivatives E-Commerce activities. "This latest investment builds upon several other CSFB e-commerce initiatives." Mr. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. added that the relationship with Trading Edge will provide CSFB with an opportunity to help shape the development of fixed-income trading over the Internet. CSFB is the first investment bank to invest in Trading Edge. This commitment is sourced from a pool of capital that CSFB has dedicated to investment in external e-commerce ventures. CSFB aims to invest in companies and technologies that could potentially impact how investment banking business will be conducted in the future, while offering an attractive financial return. "We believe that Credit Suisse First Boston's commitment will substantially aid in our ability to build liquidity in the BondLink system, which will increase BondLink 's value to traders everywhere," said Murray L. Finebaum, Chairman 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 Trading Edge. "Trading Edge is committed to adding liquidity to the debt market overall, and this agreement will pave the way for our proven BondLink system to further increase liquidity in additional markets." About Credit Suisse First Boston Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has over 15,000 employees. For the year ended December 31, 1998, CSFB had $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The firm is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Zurich-based Credit Suisse Group. About Trading Edge, Inc. Trading Edge, Inc. is a fixed-income securities broker with offices located 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. , Washington, D.C., and Santa Monica, California For other uses, see Santa Monica (disambiguation). Santa Monica is a coastal city in western Los Angeles County, California, USA. Situated on Santa Monica Bay of the Pacific Ocean, it is surrounded by the City of Los Angeles — Pacific Palisades and Brentwood on the north, . In addition to marketing and developing BondLink, the company is a member of the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ) and the Securities Investor Protection Corporation Securities Investor Protection Corporation (SIPC) A nonprofit corporation that insures customers' securities and cash held by member brokerage firms against the failure of those firms. (SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. ). Founded in 1997, Trading Edge received funding from Brentwood Venture Capital, Media Technology Ventures, Technology Crossover Ventures, and three of the nation's foremost strategic partners specializing in early-stage and emerging technology and information companies. Trading Edge's flagship service, BondLink, launched into the $1trillion worldwide high-yield securities market on April 15, 1999. Trading Edge continues to expand its market leadership as the company moves into new segments. Its most recent addition is the development of a convertible bond and Emerging Market Debt Trading service, which will enable institutional investors to trade via the Internet. For more information visit www.tradingedge.com. Qualified institutional investors can request the BondLink service by contacting the Trading Edge Help Desk toll free at 877-314-2244 or by registering online. All company and product names are trademarks of their respective holders. |
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