%0 Journal Article %T New moduli spaces of pointed curves and pencils of flat connections %A A. Losev %A Yu. Manin %J Mathematics %D 2000 %I arXiv %X It is well known that formal solutions to the Associativity Equations are the same as cyclic algebras over the homology operad $(H_*(\bar{M}_{0,n+1}))$ of the moduli spaces of $n$--pointed stable curves of genus zero. In this paper we establish a similar relationship between the pencils of formal flat connections (or solutions to the Commutativity Equations) and homology of a new series $\bar{L}_n$ of pointed stable curves of genus zero. Whereas $\bar{M}_{0,n+1}$ parametrizes trees of $\bold{P}^1$'s with pairwise distinct nonsingular marked points, $\bar{L}_n$ parametrizes strings of $\bold{P}^1$'s stabilized by marked points of two types. The union of all $\bar{L}_n$'s forms a semigroup rather than operad, and the role of operadic algebras is taken over by the representations of the appropriately twisted homology algebra of this union. %U http://arxiv.org/abs/math/0001003v2