Instinet Takes Majority Of Tradepoint Via Consortium Of Industry Heavyweights
TRANSACTION SYSTEMS
LONDON--Reuters Instinet will be getting a majority interest of better than 50 per cent in Tradepoint Financial Networks through a group of investors that includes JP Morgan and Morgan Stanley Dean Witter.
The move will take Instinet further into the coveted US market from which foreign securities exchanges have traditionally been excluded. The Tradepoint Stock Exchange has only recently gained permission from the US Securities and Exchange Commission (SEC) to set up trading screens there.
Tradepo
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