US broker Knight launches platform in Europe
Knight, one of the largest US brokers of equities, fixed income and foreign exchange, will launch a version of its Knight Link electronic trading platform in Europe http://link.ft.com/r/P75VYY/7OPXY/84SEH/BM4D6B/JXTD5/KI/t
UK brokers call banks ‘bullies’
Three leading London City stockbrokers have written to Lord Myners, the City Minister, accusing Royal Bank of Scotland and Lloyds Banking Group of “corporate bullying” by forcing companies that owe money to the banks to use their investment banking services, reports The Times. In an unprecedented act of solidarity, three of London’s fiercest rivals — Tim Linacre, CEO of Panmure Gordon; Oliver Hemsley, CEO of Numis; and Alex Snow, chairman of Evolution — allege that when a company holds a rights issue to reorganise its debt, the banks will continue to lend to it only if it uses their brokerage and capital markets units for the deal.
PartyGaming, the world?s leading listed online gaming company, announces the completion of the acquisition of the business and substantially all of the assets of WPT Enterprises Inc. (?WPTE?) for a cash consideration of $12.3 million plus an additional minimum aggregate payment of $3m over the next three years relating to an ongoing revenue share agreement.
To view the announcement in full, please click on the link below: http://www.partygaming.com/prty/en/mediacentre/pressreleases/financialnews/?ref=240 "MIFID WAS WRITTEN WITH A PARANOIA OF WHAT BROKERS DO" VIEW THE VIDEO http://www.finextra.com/itpaystoplay/info
This is a quote from a new Finextra webcast: 'It pays to play - Where are the post-Mifid opportunities for the market participants?' Available now on an on-demand basis.
What to hear more? Our panel includes industry insiders who have worked at Nomura, Merrill Lynch, and Lehman Brothers. To view the video register at:
Source :http://www.finextra.com/itpaystoplay/info
Too Big To Fail, Too Small To Survive: Small Bank Failures Mount, While Profit At Big Banks Soars On Wall Street, they may be popping the champagne bottles over big bank profits this past quarter. But times are tough for small to mid-size banks around the country as failures mount higher and higher.
The top 10 bailed-out banks -- Citigroup, Bank of America, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, PNC Financial, U.S. Bancorp, SunTrust and Capital One - have reported combined profits this year of $13.5 billion in the first quarter, $16.8 billion in the second quarter and $11 billion in the third quarter after a massive $18 billion loss in the fourth quarter of 2008.
