A Second Wind for E-Finance Startups

Despite the success already achieved by online financial-services companies, a crop of newcomers aimed at special niches is thriving

Electronic trading may not be the first place you would expect to find a lot of innovation. After all, haven't online brokerages such as E*Trade (ET ) and electronic exchanges such as Instinet (INGP ), which Nasdaq plans to buy for $1.88 billion, done it all?

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