Prescient Markets Inc. has received approval from the National Association of Securities Dealers (NASD) for the broker/dealer membership of its subsidiary, Prescient Securities LLC. Prescient will operate, an Internet-based asset-backed commercial paper platform.

Fitch held a conference last week in New York, releasing the agency's criteria for rating collateralized debt obligations backed by structured securities, including asset-backed securities, mortgage backed securities, commercial mortgage-backed securities, real-estate investment trust assets, as well as other CDOs.

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