Equavant, the online trading portal for bank loans formerly known as ereorg.com, has formed a strategic alliance with FleetBoston aimed at developing a web-based loan syndication platform.

FleetBoston is the number three player in the US syndicated loans market, behind Chase Manhattan and Bank of America. The bank is making an undisclosed equity investment in Equavant. It will also appoint two of its executives to be senior advisers to the company - its head of debt capital markets, Tim Conway, and Paul Trefry, who runs syndicated finance operations.