Six investment banks that invested in the Philadelphia Stock Exchange (PHLX) last year now hold an 89.4 percent stake in the exchange, according to PHLX officials. Merrill Lynch and Citadel Derivatives invested $7.5 million in the regional exchange in June of last year. Morgan Stanley followed suit in August with its own $7.5 million (10 percent) stake, and Citigroup, Credit Suisse and UBS later purchased their own $3.75 million (five percent) stakes. All were given the

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