Below extract courtesy of Wall Street Journal, as reported by Katy Burne 

Institutional equities-trading platform Liquidnet is preparing to launch a credit-trading network in the fall, following regulatory approval last week of its acquisition of high-yield bond platform Vega-Chi.

The initiative is the latest example of a technology company seeking to shake up the way corporate bonds trade, amid a challenging fixed-income trading environment and an increasing willingness by debt investors that traditionally use the telephone to buy and sell on electronic systems.

Liquidnet is privately held, with a majority interest owned by founder and Chief Executive Seth Merrin. Its purchase of Vega-Chi, announced in March, is scheduled to close Friday following approval of the deal in late July from the Financial Industry Regulatory Authority. Continue reading →