Auto-Execution Trading Operation Set
Wall Street Access, a New York-based institutional research and execution firm, has developed a fixed-income trading operation and electronic trading platform that provides auto-execution for U.S Treasuries, agencies and corporate bonds.
"The operation provides transparency and liquidity to a marketplace that historically has not been served with these elements," says Denis P. Kelleher, chief executive officer of Wall Street Access.
Traditionally, fixed-income trading has been an inefficient process in which inquiries are generated and executed over the phone after a great deal of time and energy is spent determining the inside bid and ask price for securities. Wall Street Access‚ new platform allows registered representatives and traders to search, view and execute trades on fixed-income securities at competitive prices in a far more efficient marketplace.
The trading platform also provides a wide variety of tools designed to increase customer profitability. Features will include market updates, trading and sales ideas, straight-through processing, bond descriptions and portfolio matching systems.
"Our institutional clients are highly sophisticated and needed a better way to trade fixed-income securities," says Kelleher.
Rich Lee has joined Wall Street Access to lead the fixed-income trading operation. He previously worked at Mellon Securities, where he was the managing director of the fixed-income trading and sales operation.
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Company Formed To
Value Illiquid Assets
Restricted Stock Partners, which manages the Restricted Securities Trading Network (RSTN), has created Pluris Valuation Advisors Inc., an affiliate to provide expertise in valuing restricted securities and other assets that lack liquidity.
Pluris has developed the LiquiStat database, compiling data from trades made through the RSTN. The RSTN was created exclusively for buying and selling restricted securities, a $1.2 trillion asset class, according to Depository Trust Clearing Corp. (DTCC).
Additional information is available at

New Fund Targets Inflation‚s Effects
MFS Investment Management‚s new MFS Diversified Income Fund is designed to generate income potential and lessen the effect of inflation on purchasing power.
MFS will change target allocations based on market conditions in five asset classes: high-yield bonds, government securities, real estate investment trusts (REITs), U.S. value stocks and emerging markets debt. The fund will permit tactical asset allocation within each asset class.
More information is available at

High-Earner Disability Insurance Offered
Massachusetts Mutual Life Insurance Company has introduced a disability insurance program that offers qualifying executives maximum benefits of $50,000 per month.
"We designed this program for business executives and professionals such as attorneys, certified public accountants and engineers, realizing that they represent an underserved market when it comes to disability income insurance protection," says Melissa Millan, MassMutual‚s corporate vice president, U.S. Insurance Group.
For more information visit

Small Business
401(k) Plan Introduced
Lord, Abbett & Co. LLC has introduced "Streamlined 401(k)," a new 401(k) retirement plan for small business owners and employees providing easier diversification of investment selections by using Lord Abbett‚s five strategic asset allocation funds.
The Streamlined 401(k) plan is being incorporated into the Lord Abbett Safe Harbor 401(k) and Lord Abbett Owner-Only 401(k) plans.
For more information visit or call 800-201-6984.

Fee-Based UMA
Platform Launched
NEXT Financial Group, in conjunction with other managers, has created a unified managed account platform exclusively for the fee-based advisor representatives of NEXT Financial Group.
The Global Management Account will be the first fee-based UMA to combine third-party managed money programs (mutual fund wraps, managed ETFs and separate accounts) with Pershing fee-based and commission-based brokerage accounts for daily performance reporting and consolidated, on-demand, client statements.