R.W. Pressprich Invests in CodeStreet

Fixed-income broker-dealer R.W. Pressprich & Co. has taken an equity stake in software firm CodeStreet LLC, whose software addresses fixed-income sales and trading workflow. Details of the transaction were not disclosed.

The investment supports CodeSreet’s emergence as a full-spectrum solutions provider for the sell-side fixed-income trading community according to the company-issued release.

R.W. Pressprich became the first broker to go live on Teamwork, CodeStreet’s flagship hosted service for fixed income sales and trading.

“We expect Teamwork to become an industry standard and we want to help CodeStreet expand its capabilities to include a broader array of asset classes so that we can use it in all areas of our business,” stated Edward Rappa, CEO, R.W. Pressprich & Co., based in New York.

R.W. Pressprich has also helped CodeStreet develop and test other products that deliver competitive advantages across many areas of the fixed income trading process, including a desk management Web portal designed for sales managers and a utility for instance publication of research and offerings — global or firm wide —via Bloomberg. From traders and salespeople, to research analysts, management and IT, CodeStreet solutions provide a competitive edge across a wide spectrum of activities within fixed income broker-dealers.

“R.W. Pressprich is a visionary company in terms of what they believe technology can do for their business. They have been very supportive of our efforts to deliver the next-generation fixed income sales and trading platform,” stated Howard Pein, CEO, CodeStreet, in the release. “Our comprehensive offering for the fixed-income broker-dealer community allows our customers to increase the liquidity they can provide,” continued Pein. “This has made our customers highly receptive to our solutions, allowing CodeStreet to become a key industry facility within fixed income,” stated Pein.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio