The Emmisions book under Kevin McGowan will take a one time $4 Million hit  today.
This is to move the curves to better reflect the current market.
This hit will stay in the Coal group but will be removed from its P/L from a  performance measurement standpoint.
Now that the curves are corrected I  expect a focus on building our emmisions trading business in the following  ways:  1.
Understanding the fundamentals.
2.
Taking advantage of structural shifts that we forecast.
3.
Building more liquidity and being the primary market maker.
4.
Developing new traders.
Thanks

Emmisions
The Emmisions book under Kevin McGowan will take a one time <CUR><NUMBER> Million hit today.
This is to move the curves to better reflect the current market.
This hit will stay in the Coal group but will be removed from its P/L from a performance measurement standpoint.
Now that the curves are corrected I expect a focus on building our emmisions trading business in the following ways: <NUMBER>.
Understanding the fundamentals.
<NUMBER>.
Taking advantage of structural shifts that we forecast.
<NUMBER>.
Building more liquidity and being the primary market maker.
<NUMBER>.
Developing new traders.
Thanks
hit today stay coal number understanding fundamentals building emmisions trading primary book kevin mcgowan group removed performance corrected expect focus measurement standpoint curves advantage structural shifts