MADOFF FALLOUT KEEPING MARKETS DOWNBEAT

Market participants still trying to sort out who got hit by the Madoff fraud. A few disclosures around the globe but so far just BNP Paribas and Santander loosing big on this. We will see more disclosures as this unfolds. NDA SS was the sucker in Sweden with 43MEUR of possible exposure. SWEDA SS took their time, but finally announced they had no losses linked to Madoff. US markets trying to rally into black in the final 30 minutes, but traded off slightly in the end. Volumes anemic.