SOURCE: Zions Direct

Zions Direct

Zions Direct

March 04, 2011 08:30 ET

Zions Direct and BondDesk Group Announce Expanded Partnership

Latest Collaboration Gives Customers an Up-to-Date Read on the Bond Environment

SALT LAKE CITY, UT--(Marketwire - March 4, 2011) - Zions Direct (www.zionsdirect.com), the online broker-dealer that specializes in offering fixed income securities to self-directed investors, is pleased to announce an expansion of its partnership with BondDesk Group LLC (www.bonddeskgroup.com), a leading fixed income electronic trading platform.

Their latest collaboration is a Market Snapshot that appears weekly on ZionsDirect.com. The Snapshot is a user-friendly benchmarking tool that allows investors to see how the yields on bonds auctioned by Zions compare to weighted-average yields for similar issues in the broader market (the averages are computed by BondDesk). For example, if Zions is auctioning an AA 3-year corporate bond, investors can refer to the Market Snapshot to determine if the Zions-auctioned bond has a higher yield than the market average.

In May of 2010, the two firms also worked together to launch the latest version of the Bond Store at www.zionsdirect.com. The updated version of the Zions bond trading platform provides enhanced functionality for retail clients. And in October 2010, Zions Direct and Bond Desk announced the ability to place buy/sell orders after-hours. The addition of overnight and weekend bond order placement to the Bond Store represents one of many consumer-centric benefits produced by an enlarged relationship between the two organizations.

"These changes are largely the result of customer feedback. The staff at Zions Direct is committed to adding value to users' experience with future improvements to www.bondstore.com," remarked W. David Hemingway, chairman of Zions Direct.

BondDesk CEO Greg Stockett said, "BondDesk's partnership with Zions allows us to deliver innovative solutions to their customers that neither party could provide alone. We are constantly evolving our business to meet the needs of the market, and this partnership is a great example of our ability to provide custom tools, data, and analysis to our clients."

Both firms are enthusiastic about continuing the partnership in the future and are currently exploring ways to bring additional fixed income market transparency to retail investors. The goal is to deliver relevant market metrics that make sense to all investors, including those who are new to bonds.

For more information on Zions Direct and the BondDesk Group Market Snapshot, please sign up for Zions Direct's newsletter here: zionsdirect.com/newsletter.php.

About Zions Direct

Zions Direct, member FINRA/SIPC, is a broker-dealer that specializes in offering securities for self-directed and fixed income-focused investors. Zions Direct allows retail investors to buy FDIC-insured certificates of deposit and corporate and municipal bonds through their web-based Bond Store and auction platform. In addition, clients can invest in stocks, mutual funds, and exchange-traded funds online or through a financial representative.

About BondDesk Group

BondDesk Group LLC is a leading financial technology firm, providing enterprise-wide fixed income solutions to many of the top broker-dealers in North America. The BondDesk Alternative Trading System (ATS), run by BondDesk Trading LLC, member FINRA and SIPC, connects broker-dealers through a centralized marketplace by offering a diverse pool of liquidity for odd-lot fixed income securities in multiple asset classes. The BondDesk ATS executes over 20,000 transactions per day by providing 2,000 broker-dealers access to 35,000 live and executable offerings from over 100 premier fixed income dealers. In addition, BondDesk Group is a leading provider of innovative fixed income wealth management solutions, advisor workstations and fixed income analytical tools and applications.

Zions Direct and BondDesk Group are independent of and not affiliated with each other. 

Contact Information

  • Contact:
    Russell Fisher
    Zions Direct
    (801) 844-7826

    Kristin Brown
    Racepoint Group
    Email Contact
    (202) 912-4906