Longitude starts derivatives auctions

Innovative technology is said to be the critical factor in winning investment bank agreements

One of the leading debt market players is set to sign an agreement with Longitude, the innovative New York-based provider of capital market solutions, to launch credit-based derivative auctions.

Late last month, Longitude signed a separate agreement with Bear Stearns enabling the bank to launch similar derivative auctions, but based on corporate performance measures and equity risks.

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