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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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<copyright>Copyright 2009 Algorithmic Media ltd</copyright>
<pubDate>Thu,  8 Jan 2009 16:44:14 -0600</pubDate>
 <item>
<title><![CDATA[Tech Forum: Data - The Exploding Supernova]]></title> 
<link>http://automatedtrader.net/automated-trader-technology-forum-40.xhtm</link>
         
     <description><![CDATA[With:
- Mark Palmer, general manager and vice president of
Apama Products, a division of Progress Software
- Dr John Bates, founder and vice president of Apama
Products, a division of Progress Software
- John Coulter, vice president of marketing and
business development, Vhayu Technologies
- Kirsti Suutari, global business manager for algorithmic
trading in the enterprise business division at Reuters
- Paul Geraghty, director of customer propositions for
the Reuters Tick Capture Engine
- Ary Khatchikian, president and CTO of Portware
]]></description> 
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<title><![CDATA[FFastFill announces new contract with ICAP ]]></title> 
<link>http://automatedtrader.net/algo-trading-news-1677.xhtm</link>
         
     <description><![CDATA[September 9th, 2008: <!--[if gte mso 9]><xml>
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<![endif]--><span style="font-size: 10pt; font-family: Arial">FFastFill PLC,has announced a new application service provision (ASP) contract
with ICAP to provide it with [live] connectivity to the London Metal Exchange
(LME).&nbsp; </span>
]]></description> 
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<item>
<title><![CDATA[Brady provides connectivity to LME SMART]]></title> 
<link>http://automatedtrader.net/algo-trading-news-1741.xhtm</link>
         
     <description><![CDATA[September 22nd, 2008 - Brady announces forthcoming launch of new interface to LME
SMART
]]></description> 
</item>
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<title><![CDATA[StreamBase Names Mark Palmer as New CEO]]></title> 
<link>http://automatedtrader.net/algo-trading-news-1774.xhtm</link>
         
     <description><![CDATA[September 30th, 2008 - <!--[if gte mso 9]><xml>
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<![endif]--><span style="font-size: 12pt; font-family: 'Times New Roman'">StreamBase Systems
Inc announces promotion of President and Chief Operating Officer Mark
Palmer to Chief Executive Officer. </span>
]]></description> 
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<title><![CDATA[Metals: Copper, Aluminium Rise on LME ]]></title> 
<link>http://automatedtrader.net/real-time-news-1834.xhtm</link>
         
     <description><![CDATA[Copper advanced on the LME by $65 to $5,625 per tonne, with aluminium putting on $14 to $2,264.

Dealers say the copper market is very short while sentiment has been buoyed by the 100 bps rate cut by the Reserve Bank of Australia.]]></description> 
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<title><![CDATA[Treasury re Money Market Fund eligibility]]></title> 
<link>http://automatedtrader.net/real-time-news-2109.xhtm</link>
         
     <description><![CDATA[The Treasury Department announced today a technical correction that would permit additional money market funds to participate in Treasury&#039;s Temporary Money Market Fund Guarantee Program.  Funds that have a policy of maintaining a stable net asset value or share price that is greater than $1.00 and had such policy on September 19, 2008 are now eligible to participate, provided the fund meets all of the other original requirements.

The enrollment deadline for these funds that are now eligible as a result of this technical correction is 11:59 p.m. Washington, DC time on October 10, 2008. 

This technical correction does not extend the original deadline for funds that maintain a stable share price of $1.00 and that qualified under the program originally announced on September 29, 2008.  As previously announced, the enrollment period for Treasury&#039;s Temporary Money Market Fund Guarantee Program will close today at 11:59 p.m.  Eligible funds should ensure that the required documentation is delivered to Treasury by the deadline.  ]]></description> 
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<item>
<title><![CDATA[FFastFill launches new STP service for LME Select]]></title> 
<link>http://automatedtrader.net/algo-trading-news-2448.xhtm</link>
         
     <description><![CDATA[October 13th, 2008 - <!--[if gte mso 9]><xml>
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<![endif]--><span style="font-size: 10pt; font-family: Arial">FFastFill launches LME Trade Capture</span><!--[if gte mso 9]><xml>
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]]></description> 
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<title><![CDATA[Metals: Copper Plunges; Nickel, Aluminium Slide Too]]></title> 
<link>http://automatedtrader.net/real-time-news-2819.xhtm</link>
         
     <description><![CDATA[Three month copper plunged on the Asian markets, falling in line with declining stock markets.

The pattern was repeated in early London trading where copper sank&Acirc;&nbsp;$370 to $4,550 per metric ton, a level not seen since January 2006.

Nickel came off a further 5% to add to yesterday&#039;s losses and aluminium eased as well, dropping 2%.

Dealers point to a number of factors to acconut for the slide, some technical but also including&Acirc;&nbsp;falling demand,&Acirc;&nbsp; not least from China as the economy faces slowing growth. &Acirc;&nbsp;&Acirc;&nbsp;&Acirc;&nbsp;

rhe LMer]]></description> 
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<title><![CDATA[MSFT: No Interest in Yahoo, No Talks Ongoing]]></title> 
<link>http://automatedtrader.net/real-time-news-2861.xhtm</link>
         
     <description><![CDATA[This official refutation came after CEO Ballmer said earlier that acquiring Yahoo might still make economic sense for Microsoft.]]></description> 
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<title><![CDATA[MFR&#039;s Recap of Yesterday&#039;s Market Activity]]></title> 
<link>http://automatedtrader.net/real-time-news-2877.xhtm</link>
         
     <description><![CDATA[More weak US data and market concern about slowing global growth. Minneapolis Fed Pres Stern in a speech today said US growth could be weak for a few years because of the effects of the unprecedented problems in the financial markets. It seems to be common for central bankers to on both sides of the Atlantic to be reminding investors that recovery is going to take time - but they are fully committed to doing what it takes to get the financial system working again. These were themes in ECB&acirc;€™s Paramo&acirc;€™s comments as well. The two day EC Summit concluded in Brussels with calls for more financial support for vulnerable industries, autos for example, and calls for a special G7 summit to begin working out financial sector reforms. Pres Bush will be meeting on Saturday at Camp David with French Pres Sarkozy and EC Pres Jose Manuel Barroso on the financial crisis - Sarkozy and Barroso are also attending meetings in Canada. No new policy initiatives are expected out of the meetings. We seem to be about finished with the initial policy response phase and are moving into the early implementation of all the new programs. It appears the major source of event risk is shifting away from policy makers to earnings reports and concerns about deleveraging hedge funds. Will they be the next group to get access to government money? Treasury Sec Paulson said the bailout money was not going to hedge funds.

We are approaching the today&acirc;€™s close with more calm in the markets. Equities have been gyrating all day, swinging up and down, but clearly very vulnerable and finding it easier to go down than up. Perhaps this is a reflection of the growth and earning concerns. Although today&acirc;€™s LIBOR fixings saw rates continuing to gradually ease and the TED spread narrowing somewhat (412bp vs 434bp yesterday), a new all-time high in the VIX today reflects the fragile state of investor sentiment. The VIX rose to 81.17 at 11:12am today and has retreated to about 77 - around the previous high. It closed yesterday at 69.25 and that was after a day of near record stock market losses.

Weak economic fundamentals continue to weigh on commodities. The CRB has dropped more than 2% today to about 275 on weak metals and energy prices. Oil had broken below the $75 level yesterday and has continued to move lower today. The weekly DOE petroleum inventory data showed a larger than expected increase in crude and gasoline inventories last week and continued weak demand. This report contributed to the break below the $70 level today. This is the lowest level seen in more than 12 months. In addition to the sharp decline in crude, gasoline and heating oil futures also posted $15 and $10 declines respectively. The weak energy and commodity prices caused a negative feedback loop into energy and materials related stocks. We expect these sectors to remain weak again during Asia trading tonight. The rapid decline in the oil price motivated OPEC to bring forward their extraordinary meeting to Oct 24 from mid-Nov. While not specific proposals are currently being reviewed, no doubt the meeting will focus on a strategy to stabilize oil prices without causing a negative shock to the already fragile financial markets. It should be noted that the gold price also broke lower today - suggesting perhaps more confidence in the recovering financial sector. The gold price had been holding in the $835-$850 range for most of the week, but it broke below the $800 level briefly a couple of times today. It closed yesterday at $846.90 and hit a low at 11:30 am today at $786.26 - more than a 7% move. It is currently trading just above the $800 level.

The USD continued to exhibit a choppy but moderately stronger tone. The USD index traded in an 82.00-82.84 range today, but spent the US session mostly in the 82.40-82.60 range -- it is currently at the lower end of that range. The strongest performing currencies today were the weakest yesterday - the commodity currencies. The AUD and NZD traded down to recent lows late yesterday - 0.6496 and 0.5915 respectively. While this pair have gained the most today against the USD, about 3.7% and 2.5% respectively, it is because they have bounced off these low levels. With commodity markets remaining weak and investors anxieties high, it is too early to expect a more sustained rebound. The USD however did gain against the EUR and JPY today. The EUR/USD dipped to 1.3346 during European trade and bounced off the 1.34 level during the US session. It is currently trading at 1.3450. USD/JPY had a choppy upward trend since hitting a 99.27 low during Asia trading. It is currently at 101.20 and had a high today of 101.61. We view this trend as another small sign that investor fear has abated from yesterday&acirc;€™s near panic levels. The weaker JPY and positive close for US equities sets the stage for a calmer close to Asia&acirc;€™s trading week.

Volatility will continue in the government bond markets. Today the European equity markets closed down - the Dow Jones Stoxx 600 off 4.96% and at its low of the day. Not surprising, the government bond yields ended lower on the day, with 2s down double digits and 10s off generally 4-5bp. For example, German 2s ended down 23bp at 2.90% and 10s off 5bp at 4.07% - a spread of 117bp against yesterday&acirc;€™s 100bp. US Treasuries, after what is going to be a positive close for US equities - S&amp;P 500 up 4% - 2s are ending up 6bp at 1.63% and 10s up 1bp at 3.95%. The Australian and Japanese bond yields were lower overnight, but given today&acirc;€™s US close, higher government yields seem almost a certainty in Friday&acirc;€™s session. ]]></description> 
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