Standard & Poor's places brokerage houses Jefferies (JEF -2.4%), Cantor Fitzgerald and...

|By:, SA News Editor

Standard & Poor's places brokerage houses Jefferies (JEF -2.4%), Cantor Fitzgerald and GFI Group on negative outlook, citing the soft market environment for investment banking and institutional sales and trading operations. S&P notes JEF is only modestly exposed to Europe, but the risk of contagion could lower underwriting volumes for all three firms.