Traders shrug off BlackRock bond threat
Bond market participants in the US have shrugged off the potential threat posed to investment banks by a new bond trading platform that BlackRock, the asset manager, plans to set up, on which investors could trade with each other.
It emerged in 2010 that BlackRock was planning such a system, but more details were reported this week and confirmed by the company.
BlackRock Solutions hopes to launch the platform this year and has sought clearance from the Securities and Exchange Commission. The idea, preliminarily dubbed Aladdin Trading
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