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Italy Banks Go For The Trifecta On Sigma X

Tyler Durden's picture




 

Italian banks and other companies refuse to relinquish the top volume spots on the world's most active dark pool, Goldman's Sigma X. As a reminder, non-open ATS venues like dark pools, represent what the big money is trading when not masked with the churn volume of HFT darlings that provide easy liquidity rebates, and thus massive volume (but absolutely no liquidity). As we reported in the past two days, Intesa, Unicredit and Banca Monte dei Pasci have been consistently among the top traded names, and continue to be so for the third day in a row. Today it may be time to add Enel SpA. Also, Italian CDS in the 175 bps range are likely very cheap now that the law of communicating insolvent vessels means the bond vigilantes will finally shift their attention to an increasingly troubled Italy.

 

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Wed, 06/29/2011 - 11:03 | 1411800 Archimedes
Archimedes's picture

Tyler,

Slow down on all of the articles. It is summertime. Relax a little.

All of this news has the market up 60 pts in 5 minutes. Hal 2000 does not read Zero Hedge.  ;-) So all is still right with the World!

 

Wed, 06/29/2011 - 11:12 | 1411816 Global Hunter
Global Hunter's picture

Greece fire contained for now, the emergency operations to sustain the fire will be moving on quickly to either Portugal, Ireland, Belgium, Spain or Italy. They're just small fires though, thankfully the economies of the UK, USA and Japan are doing just fine so there's nothing to worry about here.

Wed, 06/29/2011 - 11:28 | 1411890 Coxxy
Coxxy's picture

Credit Suisse Crossfinder is most active, afaik.

 

Wed, 06/29/2011 - 11:29 | 1411916 svoboda59
svoboda59's picture

Bankster's yacht at Costa Smeralda -70% vs. last year.

 

Wed, 06/29/2011 - 11:41 | 1412009 Temporalist
Temporalist's picture
Italy Seen Riskier Than Hungary, Ireland in BlackRock Index

"Italy ranked worse than Hungary and Ireland in a new index from New York-based money manager BlackRock Inc. (BLK) that gauges the risk of sovereign defaults."

http://www.bloomberg.com/news/2011-06-28/italy-ranked-riskier-than-hunga...

That kinda speaks for itself.

 

Wed, 06/29/2011 - 11:48 | 1412077 slewie the pi-rat
slewie the pi-rat's picture

the CDS thingy was pretty big for a while there, last hand.

now, it seems the banksters have declared the SIV's to be the trumps!

Wed, 06/29/2011 - 12:13 | 1412203 Durchbruch
Durchbruch's picture

There are as many sellers as buyers, probably :)  Indeed It's difficult not to buy some italian stocks now. Companies with money and making money with good dividends and a PE of 9 .....  

 

 

Wed, 06/29/2011 - 12:19 | 1412218 ItFarmer
ItFarmer's picture

http://www.youtube.com/watch?v=WHlrhB5lZFE&feature=youtu.be

 

nothing news, the only surprise is that BATS is the loser here

 

ciao

Wed, 06/29/2011 - 13:38 | 1412602 mspgrandi
mspgrandi's picture

Nothing new....

 

Italian banks have always been amongst the top traded stocks in EUrope... Every day i looged onto bloomberg website Unicredit montepaschi(  - and also Santander - )compared in the Most traded by Volume window....

 

 

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