Goldman Plans To Launch New Bond Trading Platform

Goldman Sachs Group Inc (GS.N) is preparing to launch a bond-trading platform on which it will charge lower fees than for typical bond trades.

The firm has been developing GSession, an electronic platform over the past year, , the Wall Street Journal reported, citing people familiar with the matter.

The platform, which may be launched later this month, would cross customer orders during scheduled trading sessions of up to five minutes and enable large trades, the Journal reported.

BlackRock (BLK.N), the world’s largest money manager, also announced plans in December for its own internal bond trading platform.

Goldman Sachs officials could not be immediately reached for comment by Reuters outside of regular U.S. business hours.