CAN BROKERTEC FAIL?

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But the system they envisioned was considerably different from the one the sponsor decided to offer. The firms realized that if they wanted the system done right, they’d have to do it themselves. So Credit Suisse First Boston (CSFB), Goldman Sachs, Lehman Brothers, Morgan Stanley and Salomon Smith Barney (SSB) put their money where their mouths were and decided to finance a European electronic fixed-income trading platform of their own, a venture they planned to call Europa Brokerage.

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