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The third-largest ECN is upping the ante by connecting to other ECNs, attracting liquidity from its new investors and winning broker/dealer status.
Redibook isn't content being a regular ECN, even though it currently ranks third among them. No, its consortium of owners--Charles Schwab, DLJ/Pershing, Fidelity Investments and Spear, Leeds & Kellogg (SLK)--is intent on building a bigger, better ECN.
That entails growing more bandwidth, winning broker/dealer status, connecting to other
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