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Manhattan may be the focus of money-center banks' trading-room operations, but until last month none of those institutions could opt for a local end-to-end back-up facility that would allow it to continue trading in the event of disaster. There simply wasn't one.
But J.P. Morgan's Morgan Guaranty unit last month became the first bank client in a new Staten Island, NY, facility operated by Minneapolis-based Exchange Resources, Inc. That facility essentially replicates the same desks, telecommunications feeds and front-end systems--as well as the...