Co. and UBS AG to buy stakes in TP Group LDC and its subsidiary Tradepoint Financial Networks, an electronic securities exchange.

Amid a rash of investments in electronic equities trading by investment banks and broker dealers, Morgan announced plans to buy 17%, and UBS 11% of TP Group of Grand Cayman, Cayman Islands, and its London subsidiary. Tradepoint offers an electronic trading platform for equity securities traded on the London stock exchange. The Fed noted that Morgan and UBS have said that Tradepoint plans to launch a U.S. subsidiary.

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