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BtoB

Merrill, Goldman, Morgan Stanley to form bond exchange

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Goldman Sachs & Co., Merrill Lynch & Co. and Morgan Stanley Dean Witter & Co. plan to form an online exchange for corporate and municipal bonds. The New York-based exchange, BondBook L.L.C., will launch by the end of the year. Goldman, Merrill and Morgan Stanley control about 30% of all global fixed-income trading.
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