Three firms join private Opus-5 trading system

09/13/2007 | Financial Times (free content) · Wall Street Journal, The

Bank of America Corp., Credit Suisse Group and UBS AG have joined Open Platform for Unregistered Securities. Opus-5 was formed last month by Citigroup, Lehman Bros. Holdings, Merrill Lynch & Co., Morgan Stanley and Bank of New York Mellon Corp. as a rival to a similar system offered by Goldman Sachs Group. Both private systems allow investors to trade stocks of companies that want to avoid the scrutiny and regulatory burdens of facing publicly traded companies.

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Financial Times (free content) · Wall Street Journal, The

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