PHLX Fires First Shot at the 'Duopoly'


NEW YORK—The Philadelphia Stock Exchange (PHLX) will be bolstering its equities transaction systems as part of its bid to stand up to the "duopoly" of the New York Stock Exchange (NYSE) and Nasdaq, officials tell DWT.

That bid got major backing last week from Citigroup, Credit Suisse First Boston (CSFB), Morgan Stanley and UBS—each of whom acquired an equity stake in the exchange. The financial support completes the first phase of the PHLX plan of strategic alliances with major securities market

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The Cusip lawsuit: A love story

With possibly three years before the semblance of a verdict is reached in the ongoing class action lawsuit against Cusip Global Services and its affiliates, Reb wonders what exactly is so captivating about the ordeal.

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