RediPlus didn’t get much of a mention at the time of the acquisition of Spear Leeds Kellogg by Goldman Sachs. Most of the focus was either on the price, initially $6.5 billion, or on what seemed to be an about-face by the investment bank. SLK was best known as a specialist, the market maker on the floor of the New York Stock Exchange. Goldman had been a prolific investors in its nemesis, the electronic trading platforms, and seemed to regard the specialist model as unsustainable.
Recent events appear to underline that sentiment.
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