Tradescape Gets In The ECN Game With Market XT Merger
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NEW YORK--Less than a month after it received a No Action letter from the SEC enabling it to function as an ECN, Market XT was acquired by Tradescape.com, an e-broker. Tradescape described the new company as having "a powerful combination of high-speed, low-cost direct access trading systems integrated with the platform of a fast-growing ECN." Investors in the new company include Softbank, Morgan Stanley Dean Witter--which has a piece of Brut ECN--Salomon Smith Barney, Warburg Pincus Ventures
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