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<title>Automated Trader Job RSS feed results</title>
<link>http://automatedtrader.net</link>
<description>
Automated Trader delivers immediate in-depth coverage of automated and algorithmic trading across all asset classes. Our global resource base utilises both online and print media to support market participants from both a business and a technological perspective. Give yourself an edge. Subscribe today.

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<language>en-uk</language>
<copyright>Copyright 2008 Algorithmic Media ltd</copyright>
<pubDate>Wed,  3 Dec 2008 13:28:59 -0600</pubDate>
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<title><![CDATA[Naked Option by Joe Kolman]]></title> 
<link>http://automatedtrader.net/algorithmic-trading-online-861.xhtm</link>
         
     <description><![CDATA[Dave Ackerman, the narrator of Naked Option, is a brilliant trader but one day, recklessly trying to one-up his firm's superstar, he goes naked on an option trade and loses $112 million in two hours. His career is over. Then he hears about an auditing job at an investment bank. He knows within minutes that something is very wrong, but he's so desperate, he takes the job.]]></description> 
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<title><![CDATA[Quote of the Week]]></title> 
<link>http://automatedtrader.net/announcements-1280.xhtm</link>
         
     <description><![CDATA[London - 1000GMT, 9 May 2008: &quot;It is the job of the algorithmic providers to educate their eventual users, and it is conversely the job of the buy side to understand the tools that are now available to it. It is not algorithms themselves that are old news, but narrow views of their effectiveness across products that are boring and out-of-date.&quot; So says Kevin Partland,senior analyst at Tabb Group, in a paper circulated today.
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<title><![CDATA[Auto-Industry Woes Claim 430 More Jobs in Southern Ontario]]></title> 
<link>http://automatedtrader.net/real-time-news-1954.xhtm</link>
         
     <description><![CDATA[DDM Plastics, which manufactures parts and molding for the auto industry, is laying off 430 of 518 workers at its Tillsonburg, Ontario plant as of January 1 in the wake of slowing auto sales.

The company said it was not expecting such a large cut at this time as new work was scheduled for the plant, but the contract failed to materialize.

DDM Plastics counts Ford, Toyota, Honda and Cami as its main customers.]]></description> 
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<title><![CDATA[Preview: Initial Jobless Claims]]></title> 
<link>http://automatedtrader.net/real-time-news-2127.xhtm</link>
         
     <description><![CDATA[Initial Jobless Claims for the week ended October 4 are expected at 475k from 497k the previous week. It will likely be the 12th straight week of claims over 400k, the number typically associated with a recession.

Continuing Claims are expected at 3.608mln, up from 3.591mln the week prior.

The 4-week moving average for claims was 474k last week, compared to 463k the prior week. The 4-week moving average for continuing claims was 3.529mln for the week ended September 20 from 3.482mln the prior week.]]></description> 
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<title><![CDATA[Equities Close]]></title> 
<link>http://automatedtrader.net/real-time-news-2132.xhtm</link>
         
     <description><![CDATA[Despite the emergency rate cuts, equities finished lower with Dow futures down 3.6% to 9193, S&amp;P futures falling 2.5% to 980 and Nasdaq futures declining 1.4% to 1319.

S&amp;P futures had a volatile day and frequently moved from positive to negative territory. S&amp;Ps bounced off support at 975 in the afternoon, and rocketed back above the 1000 level. However, they could not break through resistance at 1025 and formed a triple top at that level. After Paulson spoke on the financial crisis, S&amp;Ps tanked and closed near session lows.

Eight out of 10 sectors in the S&amp;P500 were lower with Telecom down 3.5% and Financials off 3.4%. 
Bank of America plunged 7%, Citgroup dropped 5% and Morgan Stanley shed 4.8%.

At 8:30am EDT tomorrow, Initial Jobless Claims are expected at 475k. At 10am, August Wholesale Inventories are forecast to increase 0.4%. EIA Natural Gas Storage is released at 10:35am. At 1:30pm, Minneapolis FED President Stern speaks on financial shocks.]]></description> 
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<title><![CDATA[City AM&#039;s Morning Newspaper Round-Up]]></title> 
<link>http://automatedtrader.net/real-time-news-2140.xhtm</link>
         
     <description><![CDATA[Pressure was mounting on Sir Fred Goodwin to resign as chief executive of Royal Bank of Scotland (RBS) last night as the bank prepares to tap the Government&#039;s &Acirc;&pound;500 billion rescue fund. The Government is thought to be reluctant to consent to RBS&#039;s participation in the bailout unless the chief executive relinquishes his role, says the Times.

Asian central banks on Thursday joined their western counterparts in coordinated cuts to interest rates in an effort to curb the risk of the credit crisis sparking a severe global recession. Six of the world&#039;s most important central banks, including the Federal Reserve, the European Central Bank and the Bank of England, on Wednesday announced unprecedented simultaneous emergency interest rate cuts of half a percentage point, writes the FT.

One of Britain&#039;s biggest lenders withdrew some of its most popular mortgage deals last night after the Bank of England cut its base rate, reports the Times.

Anti-terrorism powers were used on Wednesday to recoup money owed to UK depositors in a failed Icelandic bank in a move that risked sending Britain&#039;s relations with Reykjavik to their lowest since the 1970s &quot;cod wars&quot;. UK taxpayers are likely to pay out at least &Acirc;&pound;2.4bn as part of a &Acirc;&pound;4.6bn scheme to compensate hundreds of thousands of account holders at Landsbanki, the Icelandic lender, according to Whitehall sources, says the FT.

Dozens of local authorities are facing the prospect of losing hundreds of millions of pounds after it was revealed that many had sizeable deposits with the failed Icelandic banks Landsbanki and Kaupthing, according to the Independent.

The Telegraph adds that hundreds of British jobs are under threat after the Kaupthing, Singer and Friedlander, the UK division of Iceland&#039;s largest bank, was put into administration. Icelandic Prime Minister Geir Haarde last night refused to rule out the seizure of Kaupthing, saying it was &quot;unlikely&quot; but possible. This would put almost the entire Icelandic banking system under state control.

The City watchdog has insisted on vetting new bank directors, amid concerns that a lack of expertise in boardrooms contributed to the financial crisis. The Financial Services Authority (FSA) recently abandoned its rubber-stamping approach and insisted on face-to-face interviews with all new bank directors, the Times has learnt.

Amid the chaos that was sweeping across global markets on Wednesday, the UK&#039;s largest retail banks won an elusive sliver of good news in their long-running legal battle over overdraft charges. The High Court backed most lenders&#039; arguments that fees levied over the past several years when customers exceeded their agreed account limits or bounced a cheque could not be classified as unlawful &quot;penalty&quot; charges, according to the FT.

Gordon Brown and Alistair Darling will begin an international drive today to persuade other countries to implement a British-style rescue package for their banks, writes the Independent.

The Federal Reserve is preparing to lend American International Group a further $37.8 billion just three weeks after the ailing insurance giant received an $85 billion US government loan to prevent it going bankrupt, reports the Times.]]></description> 
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<title><![CDATA[In the Markets]]></title> 
<link>http://automatedtrader.net/real-time-news-2148.xhtm</link>
         
     <description><![CDATA[* ECB officials say direction of rates is down, growth forecast to be cut

* Iceland&#039;s biggest bank Kaupthing is nationalized; more fallout seen in UK 

* European calendar also has UK August trade data, ECB monthly report

* US calendar has initial claims, wholesale trade, Treasury auctions and Fedspeak

* JPY crosses rallied on Asian stock market gains, lifting EUR and USD/JPY

* Asian stocks mostly positive after central bank rate cuts

* US Treasury yields firm after gains in NY and rise in Asian stock markets

* NYMEX crude remains heavy, below $90 after making 10mth lows Wednesday

* Taiwan and BoK cut rates by 25 bp; HK cut by 50bp; RBNZ expands security program

* Japan core machinery orders fell 14.5% m/m in Aug, much worse than expected

* Australian jobs rose 2.2k in September, full time jobs -15.4k, jobless rate rose 0.2% to 4.3%

* US Treasury&#039;s Paulson called for G20 meeting after G7 on further market cooperation

* US 10yr TIPS reopening awarded at 2.85%, 2.22 cover, big 47.5% indirect bid

* US Treasury announced multiple note reopenings to address severe dislocations ]]></description> 
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<title><![CDATA[FX Update: NY Outlook]]></title> 
<link>http://automatedtrader.net/real-time-news-2178.xhtm</link>
         
     <description><![CDATA[The dollar was mixed in overnight activity, posting gains against the yen, while losing ground to the euro. A moderation in risk aversion weighed on the yen and CHF, as global equity markets largely stabilized on the back of global interest rate cuts. USD/JPY topped at 101.39, up sharply from Wednesday&#039;s 98.58 lows. EUR/USD meanwhile, managed highs of the week, peaking at 1.3784, as unwinding of safe haven crosses supported. 

Looking ahead, the US economic calendar will reveal weekly jobless claims at 8:30 EDT, followed by August wholesale inventories at 10:00 EDT. The data will largely take a backseat to the credit and equity markets however, and the FX market will remain in full defense mode, and quick to react to events there. As a result, we can expect thin and choppy markets again on Thursday. ]]></description> 
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<title><![CDATA[US Opening Comments ]]></title> 
<link>http://automatedtrader.net/real-time-news-2181.xhtm</link>
         
     <description><![CDATA[US equity indices are higher across the board, reflecting similar strength in Europe, off of better than expected earnings from IBM.  US equity markets may be poised for a relief rally following a five consecutive session rout; though lingering market uncertainty still threatens revive market volatility. S&amp;P futures are up 1.7%, but continue to trade just below the 998 handle.. If equities maintain momentum into the open, look for the VIX volatility index to back away from its recent surge. The VIX gained 8.15% to 63.27 yesterday.  

The US bond market is mixed, while European fixed income continues to face selling pressure. The more frequently traded 10yr is down 0.5% with its yield up 8bps to 3.373%. The 30yr is up 0.2% with its yield several bps above 4%. The short -end of the curve is nearly unchanged, with the 4week bill yield at an abysmally low 0.16% and the 3month bill yield at 0.63%. Fed fund futures are reflecting a higher likelihood of a 50bps cut to 1.25% at the end of the month.  European Libor rates remain elevated as the 3month Libor for borrowing USDs rose to 4.75%, its highest level since the beginning of the year, as short-term liquidity overseas remains strained despite recent cash swaps from the Fed. 

USD is mixed , with the USD Index posting marginal gains as a result of a 1.75% rebound against JPY. EUR/USD is trading at the 1.37 handle and Cable is trading at 1.7332. JPY is under considerable selling pressure in response to today&acirc;€™s rebound in equities, with GBP/JPY up 1/9% and EUR/JPY up 2.1%. 
Energies are mixed with Crude seeing some modest interest above the 89 handle and Unleaded up 1% to 205.15. Natural Gas is up 1% to 6.81 ahead of EIA Natural Gas Storage report later this morning which is expected to show a build of 87 BCF. Metals are also mixed, with Gold down $13 to 893 and Copper up nearly 2% to 240. 

US releases today include weekly Jobless Claims at 8:30est and August Wholesale inventories at 10:00est.  
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<title><![CDATA[INITIAL CLAIMS 478k IN WEEK ENDED OCTOBER 4; CONTINUING CLAIMS 3.659mln]]></title> 
<link>http://automatedtrader.net/real-time-news-2184.xhtm</link>
         
     <description><![CDATA[Initial Jobless Claims for the week ending October 4 totaled 478k, slightly above expectations and 20k below than last week&#039;s upwardly revised 498k. Hurricane-related claims receded, contributing only 17k to the total compared to 45k the week prior. 

The 4-week moving average for claims rose 8k to 483k, the highest level since Oct-01.

Continuing Claims were 3.659mln, higher than the 3.608mln expected and following an upwardly adjusted 3.603mln reading the previous week. The 4-week moving average for continuing claims came in at 3.563mln, 32k higher than the week prior.

In the week ended September 27, Texas showed an increase of 13k claims due to layoffs in the finance, trade, service and manufacturing industries. Louisiana showed a decrease of almost 18k due to fewer claims from Hurricane Gustav.

The Labor Dept. said Alaska stopped paying out extended benefits after the week ended October 4. North Carolina will start participating in the program in the week ended October 13.]]></description> 
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