Fidelity Investments is teaming up with Bloomberg Financial Markets to offer institutional investors the ability to trade money market funds by computer.
The agreement between the Boston-based mutual fund giant and the New York-based financial information services provider is the first of its kind, according to both companies.
The Bloomberg on-line system can be used both by banks' trust departments to invest in short-term funds for their clients and by banks' own treasury departments.
Initially, customers will be able to trade seven of Fidelity's money market funds over the Bloomberg system.
