It's been no great secret that top investment banks and asset managers have been a bit dissatisfied with their trading options as of late. Increasingly, the big names are taking matters into their own hands, despite moves by the NYSE and Nasdaq to deliver better services. The latest move: Citigroup, Credit Suisse First Boston, Fidelity and Lehman Bros. say they will be the top investors in a venture to be called the Boston Equities Exchange, an electronic marketplace. That follows an announcement by Morgan Stanley, UBS, CSFB and Citigroup that they will buy a 25 percent stake in the Philadelphia Stock Exchange.

> Here's a MarketWatch article.
> Here's the New York Post's take.