May 4, 2012 / 2:03 PM / 6 years ago

Goldman plans web-based corporate bond trading platform

NEW YORK, May 4 (IFR) - Goldman Sachs is set to launch by end-May or even as early as next week a single-dealer electronic corporate and high-yield bond trading platform called GSessions.

The platform will look to cross trades for its customers in scheduled trading sessions through the day and promises to deliver narrower spreads than those available outside the network, according to a spokesman.

Goldman (GS.N) would also back the platform with a guaranteed liquidity amount in order to step in, up to a certain amount, to correct supply demand imbalances.

The web-based platform is expected to inject some transparency into a market which is primarily voice-trading driven.

Similar trading venues are reported to be planned by some of Goldman’s rivals, including BlackRock, Morgan Stanley (MS.N) and

    UBS UBSN.VX.

    Reporting By Shankar Ramakrishnan

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