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Morgan Stanley to build backup trading floor

Published on .

New York--Morgan Stanley Dean Witter & Co., some of whose offices were destroyed in the terrorist attacks of Sept. 11, is to build a backup trading floor outside New York City, according to published reports. The backup trading floor-which is to be built in either the New York, New Jersey or Connecticut suburbs-will run on a separate power grid. It will be used in the event that Morgan Stanley's main Times Square trading floor becomes disabled. Even before Sept. 11, Morgan Stanley and other Wall Street firms were becoming increasingly keen on relocating some operations to the less expensive New York suburbs.
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