Cooperating with Competitors
Traders Magazine, August 2001
When Goldman Sachs pur chased Spear, Leeds & Kellogg last year it acquired more than its trading prowess. It also snagged some popular direct access technology. Spear's REDIPlus is used by the small broker dealer customers of Spear's clearing division to access news and quotes, track positions and route orders to the listed and Nasdaq markets. It is being revamped to appeal to Goldman's institutional clients. Neil DeSena, managing director of Spear, Leeds' REDIProducts division and Duncan Niederauer, a Goldman managing director now working in the SLK division, discussed the initiative with Traders Magazine's Peter Chapman.
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