A joint venture among four Wall Street powerhouses to create an online trading system for mortgage bonds is a potential boon to investors and lenders but a threat to interdealer bond brokers.

Last week, Bear, Stearns & Co., Credit Suisse First Boston, Lehman Brothers, and Salomon Smith Barney said they had formed a venture to create an online bond trading platform that would handle trades of mortgage- and asset-backed securities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.