SEI Offers Client Fixed Income Trading STP With Bonds Direct

SEI Investments has announced an agreement with Bonds Direct Securities LLC, an affiliate of Jefferies Group, to provide SEI's bank clients with automated fixed income trading. The new capability, which aims to eliminate the need for paper or any re

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SEI Investments has announced an agreement with Bonds Direct Securities LLC, an affiliate of Jefferies Group, to provide SEI’s bank clients with automated fixed-income trading.

The new capability, which aims to eliminate the need for paper or any re-entry of data, seamlessly processes fixed-income transactions from bond portfolio managers, to traders and the marketplace, to SEI’s custodial platform, Trust 3000(TM). Using SEI’s trading platform, traders can electronically evaluate the Bonds Direct fixed income inventory, select the bond they want to trade, execute the transaction, and then have it posted to Trust 3000 on a straight-through, automated basis.

SEI is rolling the fixed income solution out to its banking clients now and expects to be operational early next year. SEI believes it is the first to offer seamless trade execution that includes custodial posting.

“We are very pleased to be working with Bonds Direct in providing break-through fixed income electronic trading solutions for our banking clients,” sa ys Robert Crudup, Executive Vice President of SEI. “Our partnering with Bonds Direct further substantiates SEI’s commitment to being the leader in straight-through-processing solutions.”

“We are equally pleased to be partnering with SEI to provide their clients the fixed income execution component of the straight-through process,” adds Lee Fensterstock, Chairman and Co-Chief Executive Officer of Bonds Direct.

Bonds Direct Securities LLC is majority owned by Jefferies Group, Inc. It aims to offer

a more price efficient and liquid market in fixed income securities for the institutional client. Bonds Direct is headquartered in New York and has offices in Boston, Los Angeles, and San Francisco.

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