Wall Street Roundup: A new Big Board. Desperately seeking retirees.

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Gold: Trading now at $1,420 per ounce, down 0.1% from Monday. Dow Jones industrial average: Trading now at 12,220.50, up 0.2% from Monday.

A new Big Board. As stock exchanges fight with one another a Kansas City upstart, BATS, is looking to give American companies a place to list their shares other than the New York Stock Exchange and Nasdaq.

Desperately seeking retirees. Most of the nation’s largest banks, including Bank of America and JPMorgan Chase, are beefing up their staff to win over more business from the retirees who have some $3 trillion invested in 401(k)s.

Huge hedge funds. The growth of hedge funds since the financial crisis has raised again the question of whether these funds can be, like the banks, too big to fail.

Buffett exceptionalism. Ronald Barusch takes a skeptical look at why companies like Lubrizol take an acquisition offer from Warren Buffett so differently than offers from elsewhere in the financial world.

Private equity without leverage. While American private equity firms have made money by leveraging companies they buy to the hilt, Andrew Ross Sorkin explains how Brazilian private equity firms make money without such risky leverage.

-- Nathaniel Popper