Facebook Fiasco Drags UBS Profit Lower
UBS blamed its 349
million Swiss franc ($360 million)loss from Facebook's
botched U.S. market debut on exchange operator Nasdaq,
saying orders for the stock had been entered multiple times due
to a systems failure.
Bernanke, Geithner Response to Libor Scandal Rings Hollow
Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history: the systematic manipulation of a key global interest rate.
Are Big Banks' Glory Days Gone for Good?
Ever since the financial crisis, banks have held out hopes of a return to the good times. But analysts and investors are now questioning whether things have changed for good.
The Danger of Too Much Dark Liquidity
Dark pools play a critical role in today's market. But rising dark pool volumes mean wider spreads and higher costs on the lit markets, according to researchers in the U.S. and abroad.
Tech Innovators Focus On Big Data
A number of entrepreneurs showcasing their latest inventions to venture capitalists at the FinTech Innovation Lab aim to help financial institutions make better sense of Big Data.
Do Traditional Buy-Side Firms Need to Colocate?
Wedbush Securites' new low-latency trading platform recently scored a number of long-only buy-side clients. But experts disagree on whether traditional asset managers need such high-speed, and costly, market access.
Blackstone's Earnings Slump on Choppy Markets
Blackstone Group LP, the largest
publicly listed alternative asset manager, said on Thursday its
second-quarter earnings dropped as challenging public markets
eroded the value of its assets and crimped its lucrative
Fidessa Updates Canadian Trading Platform
It's called - drumroll, please - Version 12.1 and the firm's trading kit has been deployed across 90 percent of Fidessa's Canadian's clients, including eight of the top ten financial institutions north of the border.
State Street Shares Sink After Earnings Drop
Shares of State Street Corp fell
nearly 5 percent on Tuesday after the company said
second-quarter net income had declined 4 percent on lower
foreign exchange volume and weakness in international stock
The Global Fight Over High-Frequency Trading Hits FX
Currency trading platform EBS said it's looking to put the breaks on techniques like flash orders, moves the Financial Times says are aimed at placating ICAP's investment banking clients who are leery of high-frequency traders.
EU Banks Still Face Major Challenges
The European Banking Authority said there remained significant challenges ahead for Europe's banks after they successfully met new requirements to bolster their core capital buffers.
CEO Vows to Turn RIM Into "Lean, Mean Machine
Research In Motion
Ltd's new CEO vowed on Tuesday to turn around
the embattled company with a successful launch of its
next-generation BlackBerrys next year, telling shareholders he
would transform RIM into a "lean, mean, hunting machine."
Many Wall St Execs: Wrongdoing Is Necessary
If the ancient Greek philosopher
Diogenes were to go out with his lantern in search of an honest
many today, a survey of Wall Street executives on workplace
conduct suggests he might have to look elsewhere.