We characterize those classes \ccc of separable Banach spaces admitting a
separable universal space Y (that is, a space Y containing, up to
isomorphism, all members of \ccc) which is not universal for all separable
Banach spaces. The characterization is a byproduct of the fact, proved in the
paper, that the class NU of non-universal separable Banach spaces is
strongly bounded. This settles in the affirmative the main conjecture form
\cite{AD}. Our approach is based, among others, on a construction of
\llll_\infty-spaces, due to J. Bourgain and G. Pisier. As a consequence we
show that there exists a family {Yξ:ξ<ω1} of separable,
non-universal, \llll_\infty-spaces which uniformly exhausts all separable
Banach spaces. A number of other natural classes of separable Banach spaces are
shown to be strongly bounded as well.Comment: 26 pages, no figures. Transactions of AMS (to appear