Brokertec is an intriguing development. It is an aggressive move by seven usually competing banks – Citibank/Salomon Smith Barney, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley Dean Witter. The inspiration for its development came from Goldman Sachs, which is why its former employees now occupy the top slots in the US and Europe.
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