BoC To Auction C$2bln In 30 Day TLF on Monday
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White House Officially Signs Off On Automaker Loan Agreements
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Fed to Further Revise TALF Terms Based on Market Needs Going Forward
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Fed Extends TALF Loan Maturity from 1yr to 3yrs
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TALF Loans No Longer Distributed Through Auction, Available to All Eligible Borrowers --NY FED
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BoA Sells $6.75bln of FDIC-Backed Debt
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IL Governor intends to stay on the Job; will answer questions in appropriate forum
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Obama - economists insist economy must be put back on track first
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Obama - part of econ plan...mechanism to get budgets under control
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Obama - once we get economy back on track, we will be confronted w/ "this enormous deficit"
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Obama - will change how business is done in D.C.; no road to nowhere...
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Obama - focus on job creation, increasing demand, fix financial markets will cost significant amount of money
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Obama - need bold approach to stop rapid econ decline
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Community Bankers Trust Gets $17.68mln of TARP Funds
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Obama - concerned about Stimulus estimates; econ forecasts have deteriorated
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Obama - must have reciprocity in Trade Agreements; labor, environmental agreements must be part of trade agreements
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Obama - must rebuild regulatory structure
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Obama - create jobs and train workers for them; the way to keep jobs in the U.S. is to rebuild infrastructure
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No FED speeches scheduled thru year end - barring unforseen events
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Petrobras Gas, Oil Output Totaled 2.17mln BPD in November
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Bank of America prepares for algorithmic FX trading with Financial Labs acquisition

Bank of America has acquired Financial Labs, a trading firm specialising in algorithm-driven FX pricing and trading in foreign exchange, for an undisclosed sum. The acquisition, which includes Financial Labs' team of mathematicians and astrophysicists, was structured as a purchase of selected assets.

Mark Werner, head of global markets, Bank of America, says: "Building on our success in electronic trading in equities, the Financial Labs acquisition accelerates our already strong momentum in FX electronic trading, and positions us to extend our expertise into other markets."

The US west coast bank has already built a strong franchise in algorithmic trading for large cap equities and is fine-tuning models for mid-cap stocks. The Financial Labs acquisition effectively propels the bank into new asset classes.

Founded in 2003, Financial Labs was one of the first proprietary trading firms to be permitted to operate on EBS and Reuters. It also functions as a market-maker on these platforms. click here to return to the top of the page