PHLX Fires First Shot at the 'Duopoly'
FRONT PAGE: NEWS ANALYSIS
NEW YORK—The Philadelphia Stock Exchange (PHLX) will be bolstering its equities transaction systems as part of its bid to stand up to the "duopoly" of the New York Stock Exchange (NYSE) and Nasdaq, officials tell DWT.
That bid got major backing last week from Citigroup, Credit Suisse First Boston (CSFB), Morgan Stanley and UBS—each of whom acquired an equity stake in the exchange. The financial support completes the first phase of the PHLX plan of strategic alliances with major securities market
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