Dont think so cisco has any equivalent on the ONS platforms yet.
I think the diff comes in the fact that PBB/PBT uses ethernet as the transport mechanism unlike MPLS which uses IP over SONET/SDH/Eth etc to transport Ethernet. PBT gives the determinism (TE), QoS etc needed on a Layer 2 network with SONET like protection (50ms convergence) etc. Using PBB/MAC-in-MAC, it can keep service provider backbone scalable and secure by not receiving broadcasts from customers and reducing CAM tables.
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