Ex-Credit Suisse Trader to Fight U.S. Extradition
A former Credit Suisse Group AG
trader, accused by U.S. authorities over a $3 billion
fraud involving subprime mortgage bonds, said he would fight a
U.S. extradition request when he appeared in a British court on
Fidessa Expands Buy Side Connectivity Service
The platform now offers full infrastructure outsourcing —including FIX and non-FIX-based connectivity— to buy side customers as they grapple with the complexity of running technology infrastructure for multi-asset trading and the operational needs of new regulations.
US Institutions Choose Non-Stock Assets In Volatile Market
Pension funds, charitable groups, endowments and other large institutional investors are taking on more exposure in non-traditional "alternative" investments - such as private equity and hedge funds - to buffer against volatile stock markets, according to an investor survey.
Fund of Hedge Funds Sector Set For More M&A
Aberdeen Asset Management said there will be a further wave of consolidation in the fund of hedge funds industry, with managers who run less than $3 billion facing a struggle to survive amid shrinking assets and rising costs.
Bank of America Website Slows; Prophet Film Threat Made
Bank of America Corp's online
banking site suffered intermittent problems on Tuesday amid
threats on the Internet that a group was planning to launch
cyber attacks on the bank and other U.S. targets to protest a
film that has stirred unrest in the Middle East.
Goldman Names New CFO, Heralding End of An Era
Goldman Sachs Group Inc has named
senior trading executive Harvey Schwartz to replace David Viniar as chief financial officer, the latest in a series of executive
shuffles as the investment bank prepares for a change in top
How Are Algos Tested?
Bank of America Merrill Lynch's Dan Nachtman describes the firm's testing procedure for a new algorithm.
Morgan Stanley Infrastructure Fund Hit By Volcker Rule
A U.S. regulation that limits how much
of its own capital a bank can put at risk is causing headaches
for Morgan Stanley as it prepares to raise a new
multi-billion-dollar global infrastructure fund, people familiar
with the situation said.
How to Save a Wounded Market from Rogue Algos
You couldn't ask for a better example in the Knight Capital debacle of how quickly today's fast markets can claim a victim. Will this be the last of the rogue algorithms to hit the markets?
Who Owns The Risk If A Third-Party Algo Goes Rogue?
What happens after a broker-dealer or sell-side firm's algo goes rogue? To find out who owns the risk, Advanced Trading spoke with Michael E. Kurzrok, director of equities for the market research firm Woodbine Associates.
How to Boost Trade Performance Through TCA
In a global market where alpha continues to be elusive and liquidity is fragmented and fleeting, firms are discovering a critical component to profitability is uncovering the performance of their trading behavior through TCA.
Ask a Broker: Should I Trust Your Algos?
After Knight Capital's newest algorithm went rogue, buy side traders have to wonder about the safety and due diligence around their third-party algorithms. Advanced Trading interviewed a broker-dealer - anonymously, of course - on how traders can trust the safety of their trading formulas.
CME Group to Launch Offshore Yuan Currency Futures
CME Group, the biggest U.S. futures market operator, said on Thursday it plans to expand its offering of yuan products to include deliverable offshore yuan futures, a move which should further help internationalize China's currency.
Japan Mutual Fund Values Inch Up
The asset value of Japanese mutual funds inched up in August, its third consecutive monthly gain, as investors bought into less risky bond funds, but overall performance was lower due to dividend payouts by equity funds.
Investors Pull More Money Away From Hedge Funds
Investors took more money away from hedge funds in July when they asked for $7.4 billion back, underscoring their frustration with an industry that has long promised to make money in all markets but is currently delivering only middling returns.