R.W. Pressprich & Co., a fixed income broker-dealer based in New York City, has made an investment in software firm CodeStreet LLC.
The investment supports CodeStreet’s growth as a solutions provider for the sell-side fixed income trading community and Teamwork, the company’s hosted service.
Commenting on the deal, Edward Rappa, CEO of R.W. Pressprich & Co., said: “We have a tradition of embracing technology to stay ahead of the curve and continuously provide new levels of value to our clients.
“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”.
According to an official statement, R.W. Pressprich has also helped New-York-based CodeStreet develop and test other products across the areas of the fixed income trading process. These include a desk-management web portal designed for sales managers and an utility for instant publication of research and offerings via Bloomberg.