Merrill Lynch moves debts division online

NEWS Merrill Lynch, the global investment bank, today announced its intention to set up an ecommerce arm dealing in institutional debts markets. The news came in the form of an internal memo made public today. This is the first concrete development since Merrill Lynch last month announced plans to set up a Direct Markets division to offer advice to its corporate clients over the Internet. A spokesman for Merrill Lynch said that so far much of the developments in ecommerce have been rooted around the retail individual. This venture is to position Merrill Lynch to take charge of the change that ecommerce will also affect in institutional infrastructure.