Business Services Industry
FleetBoston Closes Jersey City, N.J., Nasdaq Stock-Trading Unit.
Knight Ridder/Tribune Business News, November, 2002
By Richard Newman, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Nov. 19--FleetBoston Financial Corp. is getting out of the Nasdaq stock trading game.
It's closing down Jersey City-based "market maker" Fleet Trading, as market conditions have crimped profits, a company spokesman said Monday.
"As of the close of business on Friday, we stopped accepting new orders," said spokesman Charles Salmans.
The operation at 10 Exchange Place dealt in 1,300 stocks, ranging from Nasdaq stars such as Microsoft to a variety of inexpensive and infrequently traded over-the-counter stocks.
The operation, which FleetBoston acquired about four years ago, is closing out its last deals this week and directing customers to...
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