Top Quotes of the Week
What a week! Europe double dips, hedge fund managers have big egos, MF Global pleads the Fifth, and everybody is leaving Goldman Sachs. Advanced Trading gathered up the funniest and the most revealing quotes from the capital markets thought leaders. There's a lot of bad news out there, but there are some bright spots. Enjoy.
Goldman Sach's Gupta Loses Wiretap Ruling
Former Goldman Sachs Group director Rajat Gupta lost his bid to suppress wiretap evidence at his upcoming criminal trial on charges that he leaked boardroom secrets to hedge fund founder Raj Rajaratnam.
New Leaders for Goldman Sachs?
Senior executives within Goldman Sachs have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.
Hedge Funds See Profits After Hot Q1
Hedge funds are cashing in some of their chips after enjoying a bumper first quarter, wary that a sudden change in market sentiment could see them take the sort of losses suffered in last year's volatile markets.
BATS Flash Crash: Here's What Happened
Say what you will about BATS' humiliating IPO, stock plunge and trading stop last Friday - the exchange operator is owning up to it and answering questions.
BATS CEO: It Is With Great Humility
BATs CEO Joe Ratterman says it was a software glitch and in a letter to clients and investors he is now explaining to clients and the investor community what exactly happened.
Foreign Traders Invade Grain Giants' N. American Turf
For decades, the world's leading grain traders like Cargill and Bunge enjoyed an unparalleled advantage: their smaller North American
competitors lacked the flexibility and diversity of a global
operation, and their foreign rivals lacked access to the biggest
and most stable exporters in the world.
Suffering a "Flash Crash," BATs Withdraws IPO
The debut of BATS Global Markets Exchange Inc on Friday was overshadowed by a series of blunders, including its own shares erroneously trading for less than a penny and confusing investors.
Securing the Cloud From the Outside-In
Conducting extensive due diligence of a cloud provider’s technology, processes and track-record can help alleviate security concerns for companies looking to move into cloud computing.
Jefferies Q1 Profit Drops
Jefferies Group reported lower first-quarter earnings on Tuesday due to higher costs and a loss in its managed funds business.
LCH.Clearnet to Launch OTC FX Clearing
In coming weeks, LCH.Clearnet's new service ForexClear will provide clearing for FX non-deliverable forwards in coming weeks, with support from 14 major market participants.
Bloomberg Visits Tarnished Goldman Sachs
You know it's been a bad week when the mayor of New York City and the man whose name appears on their market data terminals has to stop by the office to cheer everyone up.
Market Fraudsters vs. the Genuine(rs): Who's Winning?
Managing systemic risk — and preventing market abuse — is one of today’s greatest challenges, and regulators have been intensifying their efforts to clean up the markets. But are the good guys winning the war against fraudsters?
A Former SEC Enforcer On Slowing Down HFT
After years of trading near the speed of light can regulators realistically place a speed limit on high frequency trading? Mark Fickes, a former attorney for the SEC enforcement division and currently with BraunHegey & Borden of San Francisco, weighs in.
The 3 Biggest Pain Points on the Road to Swaps Clearing
Central clearing promises to bring transparency to the OTC derivatives market and reduce participants' risk. But dragging swaps out into the open is a difficult road. Here are three challenges adding to the buy side's pain -- and insight into how they can be overcome.
Who Do Buy-Side Firms Trust With Their Money?
In the absence of clear rules on customer collateral protection, the question of default risk weighs on investment managers entering the swaps clearing game, and some market participants argue that custodians offer a safer option than brokers.