Cash ManagementTreasury ManagementTreasury Technology
Reuters hopes to heat up the world of online trading systems for short-term securities.
By Susan Kelly
The financial information giant says it is planning to launch Reuters LiquidMarkets, a platform for trading commercial paper (CP) and other money-market securities and for receiving market analysis. It will also
allow issuers to communicate with their dealers.
"In a sense we're creating a community that will be a source of
information and support and connectivity," says Jim Perrello, who heads up the Reuters venture. He would not project a launch date.
Long a force in electronic foreign exchange trading, Reuters is entering an
arena already crowded with players, including some well-established names. Bloomberg has provided commercial paper trading on its terminals
since 1994 and reports by far the most volume, having logged about $4 trillion of CP trades during the first half of 2001.
TradeWeb, a bond trading platform backed by several Wall Street firms, is
expanding into money markets andrecorded more than $425 billion of CP trades in just two months of beta testing. Prescient Markets offers CP