asiabondportal signs CSFB as first non-stakeholder dealer

Credit Suisse First Boston has become the eighth international investment bank to join asiabondportal.com, a multi-dealer online trading system for Asia-Pacific bonds. The announcement comes just days after the bank confirmed it had become a shareholder in rival BondsInAsia, which is due to launch the first of its electronic trading franchises later this year. CSFB is the first global dealer that has committed to supporting asiabondportal.com without taking an equity stake in the business.
 
Asiabondportal.com says its year-to-date trading volume has reached $120 million -- over 90% of which came in the months of May and June. Chief operating officer Tom Holland says the dramatic increase is because the trading system has proved itself since its launch last October, and has achieved a critical mass of support from the buy side and dealers.