Fidelity, Schwab, DLJ, Spear Leeds To Turn RediBook Into Super ECN
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NEW YORK--Get ready for a whole new RediBook. At press time, Fidelity Investments, Donaldson, Lufkin & Jenrette, Charles Schwab and Spear, Leeds & Kellogg (SLK) had signed a letter of intent to convert RediBook into a new, super ECN.
All four institutions "expect to participate in the ECN and contribute order flow," according to a joint press release that carried the Fidelity logo. And while those four firms do a tremendous amount of trading and could create a very deep liquidity pool, it was
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