ATS, ADM Capital Team Up for Bond-Trading Portal
TRANSACTION SYSTEMS
NEW YORK--Automated Trading Systems of New York and ADM Capital Management of Hong Kong have agreed to create an e-commerce portal for the issuance and trading of illiquid debt products.
The venture will handle all but Japanese debt, focusing on corporate restructurings, private placements, debt buy-back, government issues and corporate new issues. The system will facilitate anonymous negotiation and trading on a price, spread or yield basis. Financial terms were not disclosed.
Unlike other bond
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