Morgan and Morgan Stanley and Instinet (an electronic brokerage), last month bought control of Tradepoint, a British electronic exchange.

ECONOMIST: Wall Street

Last year, Citadel, Merrill Lynch, UBS, Credit Suisse Group, Citigroup and Morgan Stanley collectively bought up more than 80% of the Philadelphia Stock Exchange and are plowing resources into its electronic trading systems with a goal to route more stock order flow through it.

FORBES: Magazine Article