Participating firms include Goldman Sachs, Morgan Stanley Dean Witter, Merrill Lynch, Salomon Smith Barney, Credit Suisse First Boston, Deutsche Banc Alex Brown and UBS Warburg.
The site is scheduled to come online in the fourth quarter, and will be free to clients that have access to any of the participating firms’ Web sites.
The site will include equity research, news, market data, information about new stock offerings, as well as providing access to the proprietary sites of the seven firms.
The venture will be set up as a limited liability company. The search for a chief executive is under way.
Application services will be provided by Multex.com Inc.