US brokers in Net trading venture

Tuesday 08 June 1999 23:02 BST

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MERRILL LYNCH, Goldman Sachs Group and Bernard L Madoff Investment Securities plan to start an electronic auction market for stocks, potentially heightening the pressure on established markets such as the New York Stock Exchange.

The three brokerages said they have formed a company called Primex Trading that would offer anonymous electronic trades starting at the end of the second quarter of 2000. The service will be available to individual and institutional investors, through brokers.

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US brokers in Net trading venture

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