Fidelity and Lehman link trading systems

23 February 2007

Fidelity Brokerage and Lehman Brothers have linked their alternative trading systems, a spokesman announced today.

It is hoped that the link between the world's largest brokerage's CrossStream system and the banking giant's Liquidity Center Cross system will provide greater liquidity and improve security of transactions.

Commenting on the move, in an interview with Finextra, Bill Baxter senior vice president and head of equity for Fidelity Capital Markets Services, said: "By connecting CrossStream's already deep and diverse liquidity pool with Lehman Brothers' Liquidity Center Cross, clients of Fidelity Brokerage Company can have the confidence that the organisation may quickly and discreetly find a natural match for their orders."

The move comes at a time when the Securities and Exchange Commission is investigating alleged insider dealing on large deals at major Wall Street investment houses.

It is the second time the companies have linked after Lehman's market information was made available to Fidelity's client base in 1999.

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