May Article

Minority-Owned Hispanic Online Money Fund Trading Portal Launches  Source: Crane Data  

The world of online money market fund trading portals gets a new entrant this week as Tradefunds (www.finacorptradefunds.com) begins operations. The new site says, "Finacorp Securities has teamed with The Bank of New York Mellon to establish Tradefunds.... The Tradefunds portal provides institutional clients with direct access to over 25 leading mutual fund families and over 100 specific money market funds -- all through one account, one wire, one agreement, with one consolidated statement."   Partner Bank of New York Mellon launched the first money market fund trading portal in 1997, MoneyFunds DIRECT. The company claims to also be the "largest in client assets, transacting $95 billion per day." Finacorp also founded the first "online trading platform for bonds, Tradebonds.com," according to the firm's website.   Finacorp's Tradefunds joins the rapidly-growing but increasingly crowded online money fund trading marketplace. Crane Data currently tracks 20 offerings with approximately $340 billion in assets, including minority-owned CNI Inc. and new entrants PNC Pinnacle, UBS and Wachovia Connection.

Gonzales Group | 14090 Southwest Freeway | Suite 300 | Sugar Land | TX | 77478