JPMorgan joins Yieldbroker
Investment bank JPMorgan has joined Yieldbroker and its online trading platform partnership, with a stake equal to its four existing owners.
The co-operatively owned venture’s current membership includes ABN Amro, Citi, Deutsche Bank and Macquarie Bank.
Yieldbroker chairman Paul Bide said it was the dominant electronic trading platform in Australian debt markets, providing institutional investors with the ability to view live indicative prices and request competitive two-way markets in over 700 debt securities.
“We are very pleased that JPMorgan has joined our partnership. We look forward to continually building the platform with their input and involvement,” he said.
Yieldbroker general manager Richard Swift said JPMorgan’s addition meant its clients would now be able to simultaneously request competitive prices from an extended panel of market makers.
“The ongoing credit crisis has made plain the high value in being able to source liquidity — with most of the leading liquidity providers now consolidated on our trading platform, Yieldbroker’s clients have access to a depth of liquidity in debt securities unparalleled in Australia.”
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