goodfellowsmansfield.com

Sunday, April 24, 2005

New York Stock Exchange (NYSE) announced last Wednesday that it has agreed definitively to merge with Chicago-based Archipelago Exchange (ArcaEx) and form a new publicly traded, for-profit company known as NYSE Group. This announcement was followed two days later by NASDAQ®, which independently announced a definitive agreement to purchase Instinet Group.

Archipelago and Instinet are innovative e-trading (electronic trading) companies, and formerly were the two largest American rivals to NYSE and NASDAQ, in recent years taking increasingly large portions of their market share. The Securities and Exchange Commission (SEC) and other regulatory agencies still have to review and approve the transactions, particularly with respect to US securities law and antitrust law, in order to ensure that the marketplace remains lawful and competitive.

Other pending issues for NASDAQ include obtaining the approval of Instinet shareholders, as well as customary closing conditions. NYSE must obtain the approval of its members and Archipelago shareholders.

These changes, a reaction to increased e-trading competition and a changed regulatory environment, will result in NASDAQ and NYSE trading each other’s shares and attempting to grab market share, which many hope will drive down transaction costs and ultimately benefit consumers. However, at least one commentator, Dan Ackman writing in Forbes, has noted that the trading commission at the NYSE currently averages less than a nickel (US$0.05) per share, and was less enthusiastic about potential efficiency gains from electronic trading at the exchange.

The transactions are also intended to make the two leading American stock exchanges more globally competitive with such exchanges as the London Stock Exchange, the Frankfurt Stock Exchange, the Toronto Stock Exchange, and the Australian Stock Exchange located in Sydney.

Sunday, June 29, 2014

Spain’s men’s national goalball team arrived in Espoo, Finland Friday for the start of the 2014 IBSA Goalball World Championships. The team comes into the tournament with the goal of securing a medal, which would qualify them for the 2016 Summer Paralympics in Rio de Janeiro. The team missed the 2012 Summer Paralympics.

Head coach Francisco Monreal said, “The objective is to reach the medal round, and qualify directly for the 2016 Games, but we need to be realistic and not think game by game, we can get a surprise. […] The competition will be decided in one game, head or tails, where it doesn’t matter what happened before. ^{((es))Spanish language: ?el objetivo previsto es alcanzar las medallas y clasificarnos directamente para los Juegos de 2016, pero hay que ser realistas y como no vayamos pensando partido a partido, nos podemos llevar una sorpresa. […] La competición se decidirá en un partido a cara o cruz, como son los cruces de cuartos, y donde no sirve de nada lo realizado en la primera fase}“

Coming into the competition, the team was ranked eleventh in the world based on the IBSA Unofficial rankings published late last month, down one spot from the April rankings. The team is scheduled to play their first game against the ninth ranked United States men’s team on Monday morning, before playing twenty-first ranked Germany later in the afternoon. Their other scheduled competitors in pool play are top ranked Iran, third ranked Algeria, seventh ranked Finland, twelfth ranked Czech Republic and twentieth ranked Ukraine. The team needs to finish in the top four in their group to advance to the second round.

The team’s roster includes Jose Daniel Fernández, Cristian Santamaria, Félix Vargas, Roman Martínez, Jesús Santana, and Javier Serrato. They are led by head coach Monreal, with assistant coach Carles Estrany and physiotherapist José Bravo. The team is drawn from around the country, with Santana playing for a club in the Canary Islands, Serrato playing for Valencia, Fernández for Madrid area Chamartín, Santamaría for Cantabria, Vargas coming from Barcelona and Martínez from Aragón.

Absent from the 2012 Summer Paralympics, the last major international competition the team competed in was the 2010 Goalball World Championships in Sheffield, England where the team finished fifth. In last year’s IBSA European Goalball Championships in Turkey, the team finished second, behind World Championship hosts and Paralympic gold medalists Finland.

Goalball was created in 1946, exclusively for people with a visual disability and designed to help with the rehabilitation of veterans returning from World War II. Play in the Paralympics consists of two twelve-minute periods, with a three minute break between halves. Players are blindfolded to ensure all are equally visually handicapped on-court, and the game can be stopped to ensure goggles are properly fitted. Standing in front of a long goal, they throw the ball at the opposition team’s net who in turn try to block it by listening to the ball, which contains a bell, and using their bodies to prevent the ball from going in. The audience is asked to remain silent during play.