Two leading mutual fund companies and two brokerage firms are collaborating to develop an electronic communications network (ECN), yet to be named. The trading divisions of Fidelity Investments of Boston and Charles Schwab Corporation of San Francisco are joining with the DLJ and Pershing affiliates of Donaldson, Lufkin & Jenrette of New York and Spear, Leads & Kellogg of New York to form a new ECN.

The new ECN will be developed from Spear, Leeds & Kellogg's existing ECN, known as REDIBook.

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