Merrill, Goldman, CSFB, BNP Paribas join derivatives exchange

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Merrill Lynch & Co., Goldman Sachs & Co., Credit Suisse First Boston and BNP Paribas have committed to join SwapsWire, an online derivatives exchange announced in April. SwapsWire, due to launch by the end of this year, was founded by Chase Manhattan Bank Corp., Deutsche Bank AG, Citigroup, J.P. Morgan & Co. and Morgan Stanley Dean Witter & Co. The New York-based exchange has the potential to be the world's largest for derivatives, given the size of its backers' derivatives business.
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