Bloomberg and six banks in IR trading joint venture
14 Feb 2006, Alexander Campbell, Risk magazine
The six banks - ABN Amro, Barclays Capital, Calyon, HSBC, JP Morgan and Société Générale - and Bloomberg will all own equal shares in the still-unnamed company.
The company will use software based on Bloomberg's existing SwapTrader online trading platform.
Participants expect the joint venture will improve liquidity and attract additional clients: "We believe it will be beneficial for our clients, good for the market and good for HSBC," said Nick Green, HSBC's head of eCommerce in Paris.