The volume of online bond trading has continued to grow in the United States, but the number of electronic bond-trading systems is shrinking. Pedestal Inc. of Washington, DC, in late August announced closing of its "to-be-announced" online exchange 18 months after launching it. A company spokesman said competition from dealer-supported exchanges such as TradeWeb made it difficult for Pedestal to get enough business. Plus, a delay in developing the appropriate technology doomed the TBA platform.