Morgan Stanley is ready to pull the plug on Bondbook, the US corporate bond trading platform set up by a consortium of investment banks. The move comes just weeks after the US bulge bracket firm withdrew its financial support from Jiway, the electronic exchange for retail investors, and sold its stake to OM Group, the Swedish technology company.

Morgan Stanley is one of three bulge bracket firms that invested an estimated $18m (€18.2m) each to set up Bondbook in 2000. Goldman Sachs and Merrill Lynch were the other two original shareholders.