Stock Baskets by S&P through E*TRADE

June 4, 2001 (PLANSPONSOR.com) - E*TRADE Group, Inc announced plans to offer a range of proprietary portfolios, built by Standard & Poor's (S&P), through its Stock Basket platform.

The service allows E*TRADE’s brokerage customers to purchase and trade ready-made portfolios of shares in dollar-denominations. The stock baskets combine attributes of a mutual fund, such as diversification and convenience, with those of a brokerage account, such as direct stock ownership.

S&P will develop 21 baskets for the platform including: 

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  • five index-based baskets
  • 10 sector-based baskets, and
  • six investment-style baskets

Analysts from Standard & Poor’s will select the stocks in each basket employing screening processes that involve rules-based quantitative investment disciplines.


 

Investment Banks Buy Stake in e-Bond Firm

May 4, 2001 (PLANSPONSOR.com) - Investment banks Credit Suisse First Boston, Lehman Brothers and UBS Warburg have bought equity stakes in the electronic bond trading firm BondBook LLC.

The banks, which also own stakes in BondBook’s major competitor Market Axess, will join current equity holders:

  • Merrill Lynch & Co. 
  • Goldman Sachs Group
  • Citigroup’s Salomon Smith Barney unit
  • Morgan Stanley, and Deutsche Bank AG

The system is an exchange-like auction in which investors can trade directly with each other without dealer intermediaries. It was initially set up for BondBook’s equity partners and members of its advisory council, but other firms are now using the system as well.

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