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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Nardelli - Cerbeus will provide security for taxpayer money
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GM Down 9.2%, Ford Unch As Bailout Hearings Continue
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S&P Cuts Sears from BB to BB-
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Frank, Kashkari sitdown on Thursday re TARP
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Chairman Frank Says Congress Would Reject 2nd Part of $700 Billion Bailout If Vote Held Today
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GM turned down Chrysler merger because market dropped, merger costs, public funding might have been available
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Nardelli - defending Cerbeus interest in Chrysler
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Chrysler CEO Nardelli - private equity is not a few rich guys taking over a company
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GM Stock Declining To Session Lows During Senate Bailout Hearing
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Canada's New Toyota Plant Will Create 1200 Auto Jobs
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Shumer-Congress Realizes Letting Big 3 Fail 'Catastrophic"
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Chrysler Needs $4 bln To Get Through March 31-CEO Nardelli
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May 21, 2007

Credit Suisse and Instinet Link Japanese Dark Pools

Nicolas McDonald, Head of Asian Equities at Instinet: "As today's deal with Credit Suisse demonstrates, Instinet is completely committed to helping our buyside clients access dark liquidity as efficiently as possible — an approach that we believe leads to the greatest chance for best execution."

Credit Suisse and Instinet have announced a reciprocal agreement under which they will both provide their respective clients with access to each other’s “dark” liquidity pools in Japan — Credit Suisse’s CrossFinder and Instinet’s CBX for Japanese Securities — thereby increasing institutional clients’ opportunities to execute larger trades with minimal market impact.

Olivier Thiriet, Credit Suisse’s Managing Director and Head of Advanced Execution Services for Asia Pacific, stated, “We are thrilled to offer our clients the opportunities that Instinet’s CBX presents. The combination of Credit Suisse’s CrossFinder and Instinet’s CBX will provide our clients with access to one of the largest dark liquidity pools for Japanese securities. We are confident that increased competition between exchanges, Proprietary Trading System (PTS) brokers and other venues will deliver improved execution performance and, ultimately, returns to our clients.”

“Instinet has built its business on an unwavering dedication to client service, and we see openness as the next major strategic commitment that buyside clients are asking brokers to make,” said Nicolas McDonald, Head of Asian Equities at Instinet. “As today’s deal with Credit Suisse demonstrates, Instinet is completely committed to helping our buyside clients access dark liquidity as efficiently as possible — an approach that we believe leads to the greatest chance for best execution.”

Today’s agreement is the third between the two firms in the past year. In April, it was announced that Credit Suisse would route order flow to Chi-X, the firm’s new pan-European ATS/MTF, and late last year the firms announced a similar reciprocal linkage of their respective U.S. dark pools.

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