æDestroy your businessÆ is Jack Welch of GEÆs famous maxim. And that is just what those brave bond buccaneers at HSBC, Citigroup and Deutsche Bank appear to have done. Their new electronic bond trading system û BondsInAsia û is set to shake up the market.
The trio of banks û along with information and technology company Bridge û has set up a new joint-venture company, which will offer regional electronic trading platforms for Asian domestic and international bonds. Each party has a 25% stake in the new company.
The business model is designed to allow the banks to roll out the system in each local market in Asia while...
