(Bloomberg) -- Fidelity Investments, the second- largest mutual fund company, is exploring the creation of a U.S. stock trading venue along with other investors to address perceived flaws in the $23 trillion U.S. equity market.

The venture under consideration would aim to “address today’s market structure, and provide higher levels of transparency, liquidity and control for the benefit of all fund shareholders,” Vincent G. Loporchio, a senior vice president at Fidelity, wrote in an e-mail today. “However, it is premature to discuss details at this time.”

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