The band was formed with Sherwood on lead vocals and bass, Gowdy on guitars, Guy Allison on keyboards and Mark T. Williams on drums. World Trade evolved from an earlier band, Lodgic, featuring Sherwood and Allison.
Their 1989 eponymous debut was co-produced by Keith Olsen. A second album followed in 1995 on Magna Carta Records, with Williams being replaced by Jay Schellen. The album was produced by Sherwood. The band's sound had similarities to 1980s Yes and the album included two Chris Squire Experiment songs and Squire (uncredited) assisted on backing vocals.
Sherwood and Schellen also recorded tracks for a series of tribute albums by Magna Carta.
Sherwood has frequently collaborated with Schellen since. In the mid-2000s, Sherwood and Gowdy began work on a new World Trade album, but this was abandoned and material is planned on a release called Psy-Op.
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