FNM Also Suspends Foreclosures Thru January
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FRE Suspends All Foreclosures, Evictions of Occupied Homes Thru January 9, 2009
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S&P/TSX Down 765 Points, a 9% Decline to 7724 at Close
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10yr Yield Drops to 3.05% (Lowest Ever)
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Dell Beats in Q3 - 37 Cents/Share vs. 31 Estimated
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BoNY Cutting 4% (1,800 Jobs)
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Citi: Strong Capital Position, Liquidity --CNBC
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TSY - no other funds in TSY's temporary money mkt guarantee program rec'd a similar liquidation notice from the SEC
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TSY's Exchange Stabilization Fund will buy any remaining securities in The Reserve Fund at amortized cost
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TSY is helping The Reserve Fund to ensure "order and timely" liquidation
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Office of Thrift Supervision says 225 banks seeking funds are pending Agency Review
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OTS says 1/3 of Thrift Banks have sought bailout funds
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TSY - The Reserve Fund's securities are s/t Gov't paper and FNM, FRE securities
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TSY will serve as 'buyer of last resort' for The Reserve Fund's securities
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30yr Yield Drops to 3.61% (Lowest Ever) on Biggest Day Drop Since Sep-01
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TSY had taken The Reserve Fund into the Temporary Guarantee for Money Market Funds program
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TSY says they agree to help liquidate fund due to "extraordinary and unique" circumstances
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TSY agrees to help liquidate The Reserve Fund's U.S. Gov't Fund
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Long Bond Up 5 Handles in Panic-Buying
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S&P Down 5.1% to 765, Lowest Since Apr-97
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February 8th 2008

Instinet Forms Chi-X Global, Sets Plans to Launch Australian ATS

Tony Mackay, appointed Chief Executive Officer of Chi-X Global

Based on the favorable response from market participants to Chi-X Europe, we feel there exists an excellent opportunity to bring the comparable cost savings and market efficiencies to investors in other markets, thus our formation of Chi-X Global, said Anthony Abenante and Fumiki Kondo, co-CEOs of Instinet, in a joint statement. Given his role in developing Chi-X Europe and his deep experience in Europe, Asia and Australia, we feel Tony is the right choice to lead efforts for Chi-X globally.

Commenting on the intention to launch Chi-X Australia, Mackay said: Demand exists from both domestic and non-Australian investors to provide the Australian market with the speed, functionality and cost benefits that an advanced platform like Chi-X offers. We hope that Chi-X Australia will provide a much-needed alternative and if history in other markets is an indicator, new liquidity to the Australian marketplace.

Chi-X Global is currently in the process of applying for the necessary Australian regulatory and legislative approvals, upon which Chi-X Australias launch timing is dependent. Once live, Chi-X Australia, like Chi-X Europe and Chi-X Canada, will be designed to provide market participants with low-cost trading through its high-capacity and low-latency technology, innovative pricing structure and open, FIX (Financial Information eXchange) protocol-based architecture.

Mr. Mackay joined Instinet in 1995. Throughout his tenure he has served in several positions, including President and Managing Director, Instinet Asia, and, most recently, President and Managing Director, Instinet Europe, during which period he spearheaded the establishment of Chi-X Europe. Mr. Mackay began his stockbroking career in 1980 in Australia, and has worked for both traditional and electronic brokerage firms in Sydney, Hong Kong, London and Tokyo.

The Chi-X name is derived from the 22nd letter of the Greek alphabet, x, symbolizing the crossing, or matching, of the two sides of a trade. Along with the X from the English alphabet, the entire name signifies a combination of the old world and modern world, or traditional securities trading techniques married with cutting-edge technology.

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