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Although NYSE member firms that conduct business with the public reported second-quarter 2006 after-tax profits of $2.95 billion and revenues of $78.64 billion, up from $1.13 billion and $53.32 billion in the second quarter of 2005, specialists reported a fall in both after tax profit and revenue. For the second quarter of 2006, NYSE specialists reported after-tax profit of just $26 million. During the same period in 2005, the specialists reported an after-tax profit of $33 million. Total specialist revenue in Q2 of 2006 was $215 million, compared with $220 million in Q2 of 2005.

Benefit of hedge fund ratings to investors is questionable.

Czech financial group PPF Group has bought three banks in Ukraine – PrivatInvest, PrivatKredit and Bank Agrobank – paying $18 million for the PrivatInvest acquisition.

Barclays Capital has decided to add algorithmic trading functionality to the front end of its Barx foreign exchange trading platform. The bank made its PowerFill service available to clients on its graphical user interface (GUI) on September 18.

Cash management poll 2006: HSBC takes top position

RBS has astonished the securitization market this year with a remarkable pace of issuance. Shortly after the bank issued £11.25 billion-worth of RMBS paper in just three months, director of capital management and securitization Ron Huggett explained the bank’s new thinking to Louise Bowman.

Barclays Capital has identified a budding mortgage-backed securities market as one of the key reasons for its decision to open an investment banking and broker-dealer business in Mexico. The UK bank started operations in Mexico last month with $100 million in capital. Barcap also hopes to take advantage of the fast-growing local capital markets, as more companies seek to raise money through high-yielding peso-denominated bonds.

Appointment expected to renew exchange’s focus on stagnant volumes in options contracts.

One hedge fund blew up and lost a reported $400 million after getting caught short. The other lost $4.5 billion after finding itself long and wrong. At first glance, the only connection the two companies have is that both were hedge funds, and both were punting in the highly volatile natural gas market.

Bavarian structured finance banker's national dress accidently arrives in suitcase packed for glittering awards do

Most investors want to invest in the best companies; Asia is no exception to this. The region’s best-managed companies are a diverse bunch but have some crucial characteristics in common. Chris Leahy reports.

“A private equity play in China is exactly that – a private equity play. The price may go up or down, but that’s not a China strategy”