['ORG | Citadel_Securities', 'ORG | Fidelity_Investments', 'ORG | Morgan_Stanley', 'exchangeName | Nasdaq', 'exchangeName | New_York_Stock_Exchange']
Morgan Stanley, Fidelity Investments, Citadel Securities and a host of other financial companies have agreed to jointly launch a new low-cost stock exchange that will compete with the New York Stock Exchange and Nasdaq.