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  • The Fannie/Freddie Bailout: Consequences to the U.S. Taxpayer  [View article]
    Chris B., I'd like to nominate your comment/analysis as a candidate for best ever on SA. Well done.

    The US is increasingly becoming a paper tiger both militarily and economically.

    The eagle has crash landed - www.yonip.com/main/art...
    Sep 18, 2008. 09:27 PM | Likes Like |Link to Comment
  • Will 'Dark Pools' Be the Capital Markets' Next Black Holes?  [View article]
    I hadn't heard of dark pools before but I have heard of ECNs and ATSs, aren't dark pools just an ATS/ECN for institutions? Am I missing something?

    This is not news, major exchanges have been competing against alternative trading systems for years. Anyone remember Island or Archipelago? Both swallowed up by the NASDAQ and NYSE respectively.

    From what I understand these "dark pools" take their pricing cues from the public markets anyways, simply splitting the public bid/ask spread. Oh and if any alternative exchange or network trades more than 5% of the daily volume of a security it is required to make its order book public. So I wouldn't lose too much sleep over dark pools unless you're a NYX or NDAQ shareholder and even then these companies have the benefit of alternative revenue streams such as listing fees and market data subscriptions.
    Jul 14, 2008. 06:24 AM | Likes Like |Link to Comment