Brut+Strike=Brokers Utility

- WatersTechnology Staff
- 01 Jan 2000

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Put Brut and Strike (www.strk.com) together and what do you get? Brokers Utility. That's right, Brut and Strike agreed to merge into a single ECN. "The letter of intent has been signed, and we expect to close the deal by the end of the year," says Brian Hyndman, president of Brut. Sungard Data Systems, which owns 56 percent of Brut, will get 20 percent of the new entity. Morgan Stanley, Merrill Lynch, Goldman Sachs and Knight/Trimark, the minority shareholders of Brut, will share 30 percent

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