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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?


To: khrnyc who wrote (25605)9/13/1999 1:57:00 AM
From: Don Green  Respond to of 99985
 
Goldman, Merrill, UBS to Set Up Europe Trading Link, Paper Says


Dusseldorf, Sept. 13 (Bloomberg) -- Merrill Lynch & Co., Goldman Sachs Group Inc., Morgan Stanley Dean Witter, J.P. Morgan & Co. and Switzerland's UBS AG plan to create a separate European share trading platform to compete with local exchanges, German daily newspaper Handelsblatt reported, citing unidentified bankers familiar with the plan. The U.S. companies and Europe's second-biggest bank are looking for additional partners in Germany, the newspaper said, adding that the share trading platform should be operational sometime next year.

Merrill last week bought a 14.3 percent stake in Archipelago, an electronic trading firm, joins Goldman Sachs, J.P. Morgan and others as investors in Archipelago, which has applied with the Securities and Exchange Commission to become a for-profit stock exchange and compete head-on with the New York Stock Exchange