WEBWATCH

BondNet takes trades

Bank of New York Co. has installed BondNet, an electronic bond trading system. The system strengthens the bank’s hand in competing with other financial institutions for master trust and master custody services, says Thomas A. Price, senior vice president in the worldwide asset liability group. “It gives our customers and potential customers the ability to trade with each other, and handle their bond trading efficiently, and it gives a good picture on where bonds are actually trading.”

Crain News Service