Bear Hunter Acquisition of Wagner Stott Mercator Closes.Business Editors NEW YORK--(BUSINESS WIRE)--April 24, 2001 Bear Hunter Bear Hunter (died January 27, 1863) was a Shoshone chief of the Great Basin who strongly resisted white colonization of the area in the 1860s. He and his war parties attacked Mormon colonists, telegraph workers, and wagon trains heading west while federal troops were preoccupied Specialists LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a joint venture between The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange : BSC (Binary Synchronous Communications) See bisync. ) and Hunter Partners LLC, today reported that the previously announced transaction to acquire the specialist rights of Wagner Stott Mercator LLC has been closed. The resulting firm, which has been renamed Wagner Stott Bear Specialists, LLC, creates the third largest NYSE specialist firm accounting for over 18% of dollar volume traded on the NYSE for the twelve months ended March 31, 2000. The combination of Bear Hunter and Wagner Stott solidifies the companies' market position in the rapidly consolidating NYSE specialist business. Wagner Stott Bear is the specialist for 355 common issues, including four of the 30 stocks in the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , 73 of the S&P 500 stocks and 40 of the 250 most active issues on the NYSE. Wagner Stott Bear Specialists LLC unites the financial resources of The Bear Stearns Companies Inc. with the market knowledge, advanced technology and trading expertise of Hunter Partners. Over the past 25 years, the firm has grown from a small group of founding partners to its current team of 410 employees, including 65 specialists on the NYSE and 23 specialists on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (AMEX AMEX See: American Stock Exchange ). Wagner Stott Bear is the largest options specialist on the AMEX with 26% of the options contract volume and is also a leading market maker on the International Securities Exchange, the first fully electronic options exchange in the United States. Additionally, through its wholly-owned subsidiary Bear Hunter Structured Products Trading LLC, the firm is also one of the premier specialists trading exchange-traded funds (ETFs). Founded in 1923, The Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading and brokerage firm serving corporations, governments, institutions and individuals worldwide. With approximately $25.8 billion in total capital, the company's business includes corporate finance and mergers and acquisitions, public finance, institutional equities and fixed income sales and trading, private client services, foreign exchange and futures sales and trading, equity and fixed income research, derivatives, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer services, including securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company had approximately 11,300 employees as of February 23, 2001, located in domestic offices in Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Seoul, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Web site at http://www.bearstearns.com. |
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