- 15 -
Goldman, Sachs & Co., New York
Greenwich Capital Markets, Inc., Greenwich, CT
Harris Trust & Savings Bank, Chicago
Kidder Peabody & Co., Incorporated, Chicago
Kleinwort Benson Government Securities, Chicago
Lehman Government Securities, Inc., New York
Lloyds Government Securities, Inc., New York
Manufacturers Hanover Trust Co., New York
Merrill Lynch Government Securities, New York
Morgan Stanley & Co., Inc., New York
Nomura Securities International Inc., New York
Salomon Brothers Inc., New York
Smith Barney Government Securities, Inc., Chicago
* Staley Financial Services Inc., New York
Yamaichi International American Inc., New York
All of these counterparties, other than the two denoted with an
asterisk, were or became primary dealers during the subject
years. Petitioner regularly purchased securities from and sold
securities to, and engaged in repos and reverse repo transactions
with, these counterparties. These transactions were effectuated
through Account 2900. Petitioner traded Treasury securities in
Account 2900 directly with these counterparties on a principal-
to-principal basis. He also traded Treasury securities in
Account 2900 with other, unknown counterparties (i.e., on a blind
basis) through CF. He regularly dealt with many different
counterparties to improve his access to market information. He
traded mainly with large primary dealers because they were among
the most active participants in the Treasury securities cash
market, and they traded the largest volumes.
Before 1985, B&C opened an account with CF. CF provided B&C
with its Speed System electronic screen; B&C already had two
screens. Through CF, petitioner posted bids and asks on these
Page: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 NextLast modified: May 25, 2011