Such Changes Would Bring MBS Closer to Corporate Bond Market --Kroszner
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Kroszner: Data Suggest Home Mortgage Debt Hasn't Risen at All Since Spring '08
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Kroszner: New Infrastructure for MBS Could Increase Transparency, Promote Indepndent Credit Analysis
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Data Suggest Near-Term Challenges for Housing Mkt Stabilization --Kroszner
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Kroszner: Investors Will Remain Skeptical of 2-Layer Securitized Products in Foreseeable Future
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Kroszner: MBS Securitization Contracts Should be More Homogenous, Cash Flow Structures Less Complex
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Securitization of MBS Still Worthy for Cost-Lowering Effects on Home Loans --FED's Kroszner
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Securitizations Should Involve Fewer, Larger MBS Tranches --Kroszner
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Correction: BOC Injects C$3bln in Term Repos
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Six Gunmen Shot By Indian Security at New Dehli Airport --BBC
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Of The Major Parties at Auto Hearing, Only UAW Has Done Something --Dodd
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BOC to Buy Back Up to C$500mln of Bonds on Wednesday
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Congresss Will Try Passing Auto Bailout Bill Before Leaving
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Senate Banking Committee Hearing On Auto Bailout Ends
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30yr Yield Drops to Record Low for 4th Day -- 3.0532%
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Stocks Off New Lows - S&Ps Down 4% at 833, Dow Down 3.5% at 8270
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'Not Persuaded' on Auto Bailout --Shelby on Bloomberg TV
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S&P Just Off Lows, Down 3.2% to 843
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Chrysler "More" Than Happy to Provide Assurances Taxpayers Will Get Money Back
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Citadel down 47% YTD - WSJ
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BNY Securities Group Forms New Unit to Develop Next-Generation Trading Technology

BNY Securities Group, a unit of The Bank of New York, has formed a new Financial Engineering & Advanced Trading Solutions (FEATS) unit to accelerate development of next-generation trading tools and technology for institutional clients of BNY Brokerage and Pershing. BNY Brokerage and Pershing are members of BNY Securities Group and subsidiaries of The Bank of New York.

FEATS is headed by Gary Ardell and comprises approximately 15 quantitative analysts, programmers and IT specialists. It will initially focus on further development of customized algorithms and program trading capabilities, pre- and post-trade analytics, and expansion of other quantitative capabilities to help users of DEx (Direct Execution Services) and Sonic(TM) meet existing and emerging liquidity challenges. DEx, BNY Brokerage's electronic trading platform, provides institutional buyside and sellside clients with direct market access, algorithmic trading, and integration with a broad array of order management systems and crossing networks. Sonic is DEx's single stock DMA interface.

Joseph M. Velli, senior executive vice president of The Bank of New York and head of BNY Securities Group, said, "This unit demonstrates the strategic focus we have on utilizing the most advanced technology to achieve best execution in the rapidly evolving, global trading environment. We are committed to remaining ahead of the curve technologically as our clients prepare for a post-Reg NMS world."

Gary Ardell, director and head of FEATS, said, "To succeed today, great traders require great trading tools. Our mandate is to use the most advanced trading science, engineering and information systems technology to create those tools. Our clients should know that we are creating tools designed to pull fragmented liquidity back together for them."

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