, Seattle, has introduced a new online trading platform for mortgage-backed securities.

The Web site, targeted at institutional investors, offers a database and search engine, real-time trade executions, anonymity for buyers and sellers, and lower-cost brokerage fees. said the site acts as a neutral exchange where sellers can post offerings and buyers can submit bids and purchase online, saving time by eliminating traditional over-the-counter procedures such as e-mail, faxes, and phone calls.'s database allows sellers to post securities, thereby placing their inventory in front of thousands of buyers for negotiation and purchase in one central location. Buyers can preset their own selections parameters.

They then receive immediate notification when a security that matches their preset profile enters the marketplace. Buyers will be able to compare products, submit bids, negotiate with sellers and conclude their transactions. This feature will be available online by fourth quarter of 2000.

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