Article: Hull IPO will test equity market's appetite for risk.

The Hull Group Inc. plans to become the first U.S. derivatives trading firm to go public in a deal that will be closely watched as an indicator of investors' appetite for such an exotic-and volatile-business.

While many of Hull's competitors have been gobbled up by big banks during the last couple of years, those who have remained independent have also remained private. But Hull, which filed with the Securities and Exchange Commission earlier this month for an IPO of between $92 million and $106 million, appears to be betting that its reputation as a creator and operator of sophisticated electronic trading systems will strike a chord with technology-crazed ...

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