Exchange Unions: Good Or Bad for Wall Street?

Lewis, Janet
April 2006
Investment Dealers' Digest;4/24/2006, Vol. 72 Issue 16, p9
Trade Publication
The article discusses the pros and cons of financial exchange unions of bankers and analysts for Wall Street, New York City. According to Larry Leibowitz, CEO for U.S. equities at UBS Warburg LLC, more efficiency in the market is good, but things that might increase pricing power and cost of trading are bad. He also notes that the bank's reaction to each merger deal will depend on the model adopted by the business and on how regulators react.


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