Softbank, Lehman Form Online Bond Trading JV

TOKYO (01/27/2000) - Softbank Finance Corp., a unit of Japan's Softbank Corp., and the investment bank Lehman Brothers today announced the formation of a joint venture company to facilitate trading of Japanese government bonds online.

The venture, called E-Bond Securities Co., is 60 percent owned by the Softbank unit, and 40 percent owned by Lehman Brothers, according to a joint statement from the companies.

Operations are planned to begin late in the second quarter of this year and the company will operate from a Web site at

E-Bond Securities will base its service on a proprietary trading system and handle mainly bonds in which trading is light such as municipal and corporate bonds and bank debentures.

It joins a growing line-up of online financial services companies being formed by Softbank with partners. The company already offers online securities trading through E-Trade Japan and has also announced plans to offer online foreign exchange trading in addition to consumer loan and insurance services.

Softbank Finance, in Tokyo, is online at Lehman Brothers, in New York, is online at

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