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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Mar 7 2007 - Bank of America today announced the launch of its latest algorithm, Instinct(TM), designed to optimize execution on stocks whose liquidity may be difficult to predict, including small and mid-cap equities. The algorithm is the ninth available through the company's Electronic Algorithmic Strategy Execution (EASE(TM)) suite of electronic trading tools.

Bank of America Unveils Adaptive Implementation Algorithm for Less Liquid Stocks

Dr. Robert Almgren: "Adaptivity is the next frontier

Instinct represents a new breed of Adaptive Implementation algorithms, which analyze and react to market data in real-time during the course of the trade. Unlike earlier generations of algorithms that trade along fixed, predetermined trajectories, Instinct uses a proprietary real-time estimation of available liquidity to continuously modify its execution trajectory throughout the lifetime of the order. This technology is especially suited to less liquid small and mid-cap stocks, as it allows traders to identify and seize liquidity as soon as it becomes available, alleviating slippage.

"These smaller names have long been considered impossible to trade algorithmically," said Dr. Robert Almgren, managing director and head of Quantitative Strategies for Equities. "We believe Instinct will be an exceptional productivity tool for our clients, as it aims to reduce workload and mitigate execution costs by allowing traders to find liquidity."

"Adaptivity is the next frontier in algorithmic trading," Almgren added. "The ability to instantaneously change execution strategies during the course of a trade will give traders greater control over the outcome of that trade. Our aim is to provide algorithms that combine a solid quantitative foundation with the trader's intuition, so that we can continue to help facilitate best execution for our customers and satisfy their unique trading objectives."

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