BondDesk has launched a new version of its retail bond-trading platform for financial advisors and wealth managers, the company announced Thursday.
Over the next several months, BondDesk plans to roll out the new platform, called BondWorks, to its largest clients, with the ultimate goal of introducing it to the company's entire customer base of more than 100,000 financial advisors.
"This is a huge step forward," said BondDesk Senior Market Strategist Chris Shayne (left) during a demonstration of the new platform in New York. "It's almost like going from a flip phone to a smart phone, it's that much better."
The new design will allow advisors to invest in individual bonds as easily as they can invest in bond funds, according to Greg Stockett, BondDesk's acting CEO.
"Historically, bonds have lagged behind other markets such as equities and even foreign exchange when it comes to technology and decision support tools, but the BondWorks platform takes retail bond investing to a level not previously seen or available," Stockett said in a statement. "Advisors can now easily and efficiently engage with the bond market in a sophisticated and intuitive way, benefiting from fully transparent bids and offers, extensive market surveillance, and real-time streaming data that supports their workflow."
