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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August 5th, 2008 - Bloomberg Tradebook releases REACT, a new opportunistic trading strategy for US equity trading.

Bloomberg Tradebook launches new smart algorithm

Bloomberg Tradebook has released REACT, a new opportunistic trading strategy for US equity trading. This algorithm seeks to capture maximum price improvements by trying to predict and react to short-term price direction and by dynamically adjusting the quantity, price and market venues in which to represent an order. REACT makes decisions based on a number of factors including: real-time market trades; intraday stock trading performance; bid/offer spread and volatility; and deviation from historical trading patterns.

REACT offers market participants a way to maximize opportunities in increasinglyfragmented liquidity markets. In comparison to trading strategies that represent orders in only one market venue and at a static price that may stand in the way of the market's natural trends, REACT is designed to simultaneously represent orders in the most active venues and participate in that trend as it seeks price improvement.
Traders can monitor the prices and market venues that REACT places orders in and gauge how successful it predicts and responds to market conditions in real-time.

According to Bloomberg Tradebook, the new algorithm tries to predict and respond to market movements like a trader. It attempts to intelligently predict and dynamically react to small market movements that may translate into larger opportunities for price improvement and position orders to capture those opportunities.

For example, in favorable market conditions, many traders seek to leverage the market's natural trend. The REACT algorithm first seeks to determine which dark and continuous market venues have the highest probability of executing with price improvement. In seeking to maximize liquidity exposure opportunities, the strategy takes into account the volatility of a stock, layers the market according to its spread and dynamically updates its presence in the top venues, where executions are statistically believed to exist. Then, the strategy dynamically determines quoting at more favorable price levels as it seeks to further maximize price improvement. Finally, if the market turns as a result of the stock establishing a support or resistance level and REACT anticipates that the market is no longer in a favorable trend, it will re-adjust and layer orders closer to the BBO and at a more aggressive price level. REACT is thus designed to predict short-term market trends, take advantage of these opportunities and capture price improvement.

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