Shares of banks, lenders and other financial institutions rose as market volatility subsided. The Cboe volatility index, or VIX, a measure of the premiums paid to protect portfolios against volatility, neared its lowest level since the collapse of trade negotiations in late May. Three big high-speed trading firms, Citadel Securities, GTS Securities and the U.S. arm of Amsterdam-based IMC, asked a federal court to halt a Securities and Exchange Commission initiative that would limit the rebates that U.S. stock exchanges pay to attract investors' orders. The SEC's new rule was supposed to prevent gaming of the "maker taker" system of exchange fees and rebates. UBS Group placed a senior economist on leave after a comment on a podcast about the swine flu in China caused offense.
-Rob Curran, email@example.com