Wall Street firms create consortium for "block" stock trades

Six of the biggest names on Wall Street are joining forces to launch an electronic trading service for large "block" trades. The new company, dubbed Bids, for Block Interest Discovery Service, is expected to debut in 2007. Citigroup Inc., Merrill Lynch & Co., Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., UBS AG and Morgan Stanley all have equal stakes in the venture.

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