41.   Indeed, the expansion into new areas drained the profits of the successful energy trading operations, critics say.

42.   It also closed its downtown New York trading operation in New York.

43.   It lost money on its trading operations, barely made a profit in investment banking, but was saved to some extent by a solid performance from Mercury.

44.   It may move some trading operations there.

45.   It recently opened an electricity trading operation in Houston.

46.   It is scheduled to open a branch in Taiwan later this year, and is expanding its foreign exchange and bond trading operation in Japan.

47.   Last week, UtiliCorp United of Kansas City, Mo., did an IPO for its electricity and natural gas trading operations, called Aquila.

48.   Meanwhile, the trading operation will wind down.

49.   Ms. Duffield, who now runs a trading operation at another firm in San Francisco, said she barely remembers signing the agreement to submit to arbitration.

50.   Most of them are putting into effect contingency plans to move trading operations to other locations.