Now this is a surprise: Lehman Brothers is said to be intent on buying the specialist unit of Van der Moolen, the Financial Times reports. The unit was scheduled to be shuttered soon, following so many other specialists firms. It's hard to believe that Lehman Brothers would want to get into the floor-based market, which has been in decline for years. Unless it sees something novel. There is talk that floor operations could become more profitable given some arcane rule changes. And I am sure the unit will be available for a low price. It would join five other operating specialists, which include Goldman Sachs and Bank of America. The NYSE is said to be recruiting others. I'd like to hear the pitch.  

For more:
- here's the Financial Times article

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