Former Calgary Flames' GM Craig Button is an analyst for the NHL Network. On Trade Deadline day, he broke down every trade for NHL.com. Today, he looks at each NHL team to see what Wednesday's activities means going forward.

Wednesday, the clock struck midnight -- actually 3 p.m. ET -- for teams looking to add players, or in some instances, looking to trade players.

There were buyers and sellers in a frenzied marketplace, attempting to get a leg up on their competitors. And there was the excitement for the fans, believing their team might obtain that elusive player to move the dreams of a Stanley Cup celebration closer to reality. 

When the deadline came and rosters for the postseason were effectively frozen, some teams had made trades to better position themselves for the Stanley Cup Playoffs, others were looking to the future for their Stanley Cup dreams.

True to his word, Detroit Red Wings General Manager Ken Holland made no moves at Wednesday's trading deadline. He had predicted as much in the days leading up to it.

Holland then watched his team move into first place in the overall NHL standings Wednesday night for the first time this season with a 3-2 victory against the Avalanche in Denver. The Red Wings have 94 points, one more than the San Jose Sharks and Boston Bruins, two teams that made significant deals Wednesday to get better.

"If I could have made a hockey deal, I would have, but I had no interest in a rental," Holland said Thursday. "We like our team. We won the Stanley Cup last year and, recently, we are finally starting to show signs that we are playing closer to last year. We've had a run of games where we've given up none, one or two goals in a game, except for that blowout by Nashville. 

While there may not have been the number of blockbuster moves at Wednesday's trade deadline that defined last year's deadline, there were still a number of trades that helped re-shape some of the Stanley Cup contenders.

Between 9 a.m. Wednesday and the deadline -- which fell at 3 p.m. ET and marks the last chance for GM's to remake their rosters -- there were 22 trades made, involving 47 players. The most prominent of those players was center Olli Jokinen, who was dealt from the Phoenix Coyotes to the Calgary Flames.

With 21 goals and 42 points this season, Jokinen gives the Flames the legitimate No. 1 center they lacked, and the potential of a top line of Jokinen, Jarome Iginla and Todd Bertuzzi, when he returns in a month from knee surgery. That certainly could be a dominant trio in the playoffs.

The Flames also acquired Jordan Leopold from the Colorado Avalanche to bolster their blue line. Leopold played on the Flames' team that advanced to the 2004 Stanley Cup Final.

There was one thing on the mind of Florida Panthers General Manager Jacques Martin as the NHL trade deadline reached a climax Wednesday afternoon, namely accomplishing something his team hasn't done the last seven seasons -- qualify for the Stanley Cup Playoffs.

It was the recurring theme that entered his head with each inquiry for All-Star defenseman Jay Bouwmeester. Ultimately, it was the primary reason Martin nixed every offer for the most coveted blueliner on the final day of wheeling and dealing in the NHL for 2008-09.

"There were a couple of offers that were interesting, but I think in the end, we're very pleased to have Jay here," Martin said. "What we established as an organization a while ago, and what our priority was even before we entered into this process, was to make the playoff and that's why we're here with this scenario."

That scenario always included Bouwmeester in the thick of the postseason hunt with his Florida teammates.

Looking to add some veteran depth up front, the Chicago Blackhawks acquired center Samuel Pahlsson, defenseman Logan Stephenson and a conditional draft pick in exchange for defenseman James Wisniewski and center Petri Kontiola right before the trade deadline on Wednesday.

Pahlsson, 31, has five goals and 10 assists with 32 penalty minutes in 52 games this season. He led Ducks' centers with a 54.0 faceoff winning percentage and ranked third among team forwards with an average time on ice of 18:30 per game. He was a member of Anaheim's 2007 Stanley Cup championship squad, posting 12 points and 20 penalty minutes in 21 contests during that run.

Chicago GM Dale Tallon described it as "a fruitful day" for his team, as his Blackhawks added a piece they had long sought in a veteran center behind captain Jonathan Toews.

The Anaheim Ducks will have a different look when they return to the ice Friday night against the Dallas Stars.

Wednesday started with the loss of veteran center Brendan Morrison, who was claimed off waivers by the aforementioned Stars. Morrison is expected to face his former team on Friday at the Honda Center.

Ducks GM Bob Murray quickly found Morrison's replacement, as he acquired Petteri Nokelainen from the Boston Bruins in exchange for defenseman Steve Montador. He later sent forward Travis Moen and defenseman Kent Huskins -- both unrestricted free agents July 1 -- to the San Jose Sharks for forward Nick Bonino, goaltender Timo Pielmeier and a conditional fourth-round draft pick in 2009. Anaheim also acquired forward Erik Christensen from the Atlanta Thrashers in exchange for forward Eric O'Dell. Finally, the Ducks sent forward Samuel Pahlsson to the Chicago Blackhawks for defenseman James Wisniewski and a draft pick.

The Los Angeles Kings acquired forward Justin Williams from the Carolina Hurricanes Wednesday as part of a three-team trade involving Carolina, Edmonton and Buffalo. The Kings sent forward Patrick O'Sullivan to the Oilers and a second-round pick in the 2009 Entry Draft to the Hurricanes. That pick originally belonged to Calgary and was acquired in a 2007 trade that had sent center Craig Conroy to the Flames.
 
As part of the trade, Carolina acquired forward Erik Cole and a fifth-round selection in the 2009 Draft from Edmonton. The Oilers received a second-round pick in the 2009 Entry Draft from the Hurricanes, which they promptly sent to the Sabres for forward Ales Kotalik.

The trade came one day after the Kings' 5-4 loss at Columbus, a defeat that concluded a 1-4-0 road trip that left the Kings 13th in the West, seven points out of a playoff spot with 19 games remaining.

One might think Mark Recchi would be sick of being traded. But that wasn’t the case Wednesday when he got word he was leaving Tampa Bay, and out of the playoffs, and to Boston and right in the thick of things.

"I want to tell everybody how excited I am to be part of the Boston Bruins organization and being a piece of the puzzle that helps us get to the Stanley Cup," Recchi said. "I think they are very close, one of the hardest teams to play against in the league. They have great leadership, great skills and they skate well."

The Bruins got stronger at forward and defense at the trade deadline without giving up key players from their roster. They added Recchi and defenseman Steve Montador while giving up forward Petteri Nokelaninen, minor-league right winger Martins Karsums and minor-league defenseman Matt Lashoff.

Actually, all three players were members of the Bruins' Black Aces, the three extra players each NHL team carries in the event of sudden illnesses or injuries. This will open an opportunity for three players currently with the AHL Providence Bruins, most likely Vladimir Sobotka, Martin St. Pierre and a defenseman.

For his first trade deadline as a general manager, the Edmonton Oilers' Steve Tambellini helped put together one of the most complicated deals in trade deadline history, a four-team combination that landed the Oilers top-end forwards Patrick O'Sullivan and Ales Kotalik.

The deal also involved the Los Angeles Kings, Carolina Hurricanes and Buffalo Sabres, and saw four players switch teams.

"It was basically trying to make sure all those teams, all their goals were accomplished," said Tambellini on a conference call Wednesday night. "We're happy with our results."

Tambellini said going into the deadline his goal was to upgrade his team's offense, and he did that in landing O'Sullivan, who has 14 goals in 62 games with the Kings, and Kotalik, who has 13 goals in 56 games with the Sabres.

Seeing their team tumble out of the playoff race during the last month, Phoenix Coyotes executives started building again for next season with a flurry of activity Wednesday that totally changes the complexion of the Coyotes' roster, but keeps their young core intact.

The Coyotes didn't move Peter Mueller, Martin Hanzal, Kyle Turris, Viktor Tikhonov or Mikkel Boedker. They also kept their veteran core of Shane Doan, Ed Jovanovski and Ilya Bryzgalov in tact.

But through four trades, the Coyotes shifted around a lot of other parts, while also adding some depth and draft picks and creating some salary-cap flexibility.

"We felt everything we did today stayed with the message," Coyotes Assistant General Manager Brad Treliving told NHL.com. "It allowed us to get a little bit quicker, and a core asset of our team is playing with speed and pace, and it leaves us with some flexibility. We were able to put some picks in the bank. We're not a team that is out spending right to the cap, but having flexibility today going forward into the summer and the next few years here that will be a real asset."