BlackRock CEO Laurence Fink said the company's bond-trading platform is not intended to compete with bond dealers. "This is not going to transform BlackRock in any way," Fink said. "This is not going to change our behavior, our relations with the sell side." Instead, the system is meant to fill a gap in trading that is expected to occur if major brokers and banks rein in bond trading under capital standards, Fink said.

Related Summaries