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Bear Stearns, Credit Suisse First Boston, Lehman Brothers and Salomon Smith Barney announced they will launch a new company that will build an Internet-accessible electronic trading platform for mortgage and asset-backed securities. The new electronic network, which the four firms say expect to use for their own trading activity, will be offered as an alternative to the traditional telephone-based systems. The firms say the venture has been designed to provide a more efficient marketplace for
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