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News & Commentary
Content tagged with Trading Technology posted in November 2012
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New Global Tech Hubs Emerge In Surprising Locations
News  |  11/30/2012  | 
A number of cities around the world that were formally quiet on the tech front are now making a stand.
Two Charged With Insider Trading Over 2009 IBM Deal
News  |  11/30/2012  | 
Two former stock brokers at a Connecticut financial services company were charged with insider trading on Thursday over a 2009 acquisition by computer giant IBM Corp.

Happy Holidays: Get Your Drink On -- Wall Street Style!
Slideshows  |  11/30/2012  | 
Now that company holiday parties are coming back in style, here's one of the more creative drink menus. Each year Cognito, the PR and marketing agency that specializes in financial services and technology, holds a holiday party with a specialized set of financial services drinks. This year's menu reminds us of some of the year's most notable events, including Knight Capital's trading glitch, Rajat Gupta's insider trading trial and the Libor rate-fixing scandal. Bottoms Up!
Can Banks Prevent the Next Cyber Attack?
News  |  11/29/2012  | 
Banks knew this past September's DDoS attack was coming, but were powerless to stop it. What can be done to prevent the next attack from succeeding?
Merrill Lynch Pushes Content via Flipboard App As Clients Shift to Tablets and Smartphones
News  |  11/29/2012  | 
As consumers of information shift their habits to tablets and smartphones, Merrill Lynch Global Wealth Management launched a channel on Flipboard, a popular, free app, where users can aggregate news and social media content.
Goldman Sachs Boosts Rating on RIM, Shares Surge
News  |  11/29/2012  | 
Research In Motion received a big boost on Thursday after Goldman Sachs raised its rating on the company, sending shares of the BlackBerry maker soaring more than 12 percent in trading before the morning bell.

Short Sellers Target Hard Hit Europe Tech Stocks
News  |  11/29/2012  | 
Hedge funds are increasingly betting against European tech shares, targeting companies hit hard by a sluggish global economic outlook and those struggling with stiff competition in the mobile business.

RBC Profit Rises 22 Percent on Strong Fixed-Income Trading
News  |  11/29/2012  | 
Royal Bank of Canada's quarterly profit rose 22 percent on a sharp jump in fixed income trading revenue and steady loan growth, suggesting the long-awaited slowdown in Canadian consumer lending has yet to materialize.

Getco Eyes $1.4 Billion Deal with Knight Capital
News  |  11/28/2012  | 
Getco offered to merge with Knight Capital to create one of the largest U.S. market makers for stocks and options.
New ITG Algo Takes Aim at Customization, Liquidity Sourcing
News  |  11/28/2012  | 
The broker says its latest algorithm will help the buy side take a more strategic approach to sourcing liquidity.
Getco, Virtu Make Rival Bids for Knight Capital-Sources
News  |  11/28/2012  | 
Trading firm Getco Holding Co said it offered to take control of Knight Capital Group Inc in a deal that values the electronic trading firm at $3.50 a share, sending Knight shares up 15 percent in early trading Wednesday.

Data's New Look: Demand for Visualization Tools Is Coming
News  |  11/27/2012  | 
Business users and executives in financial services will eventually demand data visualization to make their workflow more productive.
BATS Rolls Out Free 'Kill Switch'
News  |  11/27/2012  | 
BATS Global Markets will begin offering free risk management tools, including "kill switches" and order restrictions, to all of its members.
Following CFTC Lawsuit, Intrade Cuts Out US Customers
News  |  11/27/2012  | 
Prediction market Intrade said it will no longer accept U.S. customers because of what it called legal and regulatory pressures.
Global Regulators to Hold New York Meeting on Derivatives Rules
News  |  11/27/2012  | 
Global regulators will meet in New York on Wednesday, hoping to hammer out a deal on how to jointly supervise the $650 trillion derivatives market.
Revenge of the Nerds: Banks See Risk, Compliance Hiring Boom
News  |  11/27/2012  | 
Tough regulations have jolted demand for compliance, risk and legal officers, creating one of the few bright spots in an otherwise dismal job market for the financial industry.
Intrade Cuts Out US Customers After Regulatory Suit
News  |  11/27/2012  | 
Prediction market Intrade, which allows spectators to bet on subjects ranging from entertainment to elections, said on Monday it will no longer accept U.S. customers because of what it called legal and regulatory pressures.

How To Select The Most Accurate Data Visualization
News  |  11/26/2012  | 
Understanding the underlying concerns of data analysis is a good first step for firms looking to more clearly analyze complicated data sets, spot patterns and answer key questions.
Fidessa Helps Buy Side Source Block Liquidity via Autex
News  |  11/26/2012  | 
Through a collaboration with Thomson Reuters, Fidessa group plc has developed tools to help the buy side cut through large volumes to quickly access relevant and actionable IOIs.
Knight CEO Plays Down Deal Talk
News  |  11/26/2012  | 
Knight Capital Group, currently in talks with at least two firms on the possible sale of its largest business unit, is well capitalized and would only pursue a deal if it created value for its shareholders and clients, Knight's chief executive said in an internal memo.

Warren Buffett Calls for a Minimum Tax on the Wealthy
News  |  11/26/2012  | 
Warren Buffett, the legendary investor who changed the debate about U.S. tax reform in 2011 with a call for the rich to pay more, is now calling for minimum tax rates for millionaires.

Spurred By Crisis, Euro Zone Is Shaping Up Study
News  |  11/26/2012  | 
The euro zone is turning into a more balanced and potentially more dynamic economy thanks to market pressure and the constant demand for structural reforms, a study showed on Monday.

Knight Capital Sets the Record Straight on Algo Testing
News  |  11/21/2012  | 
With more attention on how trading algorithms are tested following the August software mishap, Knight Capital's Brendan McCarthy opens up about the firm's vetting procedures.
Prosecutors Charge ex-SAC Manager in $276 Mln Insider Scheme
News  |  11/21/2012  | 
U.S. prosecutors on Tuesday charged a former SAC Capital employee with insider trading in a series of transactions that hedge fund titan Steven A. Cohen had personally signed off on.

New York Sues Credit Suisse Over Mortgage Securities
News  |  11/21/2012  | 
New York Attorney General Eric Schneiderman brought a lawsuit on Tuesday accusing Credit Suisse Group AG of deceiving investors in mortgage-backed securities.

Surveillance and Monitoring Through the Looking Glass
Commentary  |  11/21/2012  | 
Looking ahead to 2013, European regulations are stepping up the need for automated surveillance and monitoring solutions on the buy side, writes SunGard Protegent's, Magnus Almqvist, who says firms must have audit trails and quick answers to questions on suitability and personal dealing.
Nasdaq CEO Calls on Washington to Compromise
News  |  11/20/2012  | 
Washington needs to rediscover its ability to compromise and commit to a long-term plan to reduce the nation's debt, the head of Nasdaq said.
Australia Introduces "Kill Switch" for Computer Share Trading
News  |  11/20/2012  | 
The Australian government introduced new market trading rules, including a "kill switch," to protect investors from volatility.
HFT Now Jolting U.S. Grain Trade
News  |  11/20/2012  | 
The U.S. grain industry says high speed computerized traders are disrupting their markets.
SEC Expands Probe Into Whether Exchanges Favor HFT
News  |  11/20/2012  | 
The heightened regulatory scrutiny comes on the heels of a series of major technical glitches at capital markets firms that have damaged investor confidence.
Mini-Flash Crashes Continue To Fly Under The Radar
News  |  11/19/2012  | 
For no particular reason, events known as mini-flash crashes routinely happen in equities, as fat finger errors and faulty algos interact with HFT firms in the electronic market infrastructure.
JPMorgan, Credit Suisse Settle with SEC for $417 Million
News  |  11/19/2012  | 
JPMorgan Chase and Credit Suisse will pay a combined $416.9 million to settle civil charges that they misled investors in the sale of risky mortgage bonds prior to the 2008 financial crisis.
NYSE Hires Ex-Homeland Security Chief after SEC Security Lapse
News  |  11/19/2012  | 
NYSE Euronext hired former Homeland Security Secretary Michael Chertoff to make sure sensitive exchange data was not breached after the SEC left its computers unencrypted.
Global Shadow Banking Hits $67 Trillion
News  |  11/19/2012  | 
The "shadow banking" system, blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year.
Obama Presses Case on 'Fiscal Cliff' with Dimon, Buffett
News  |  11/19/2012  | 
President Barack Obama's intensive lobbying to avert big year-end tax hikes and spending cuts resumed over the weekend as he spoke with senior corporate chieftains, including JPMorgan Chase's Jamie Dimon and legendary investor Warren Buffett.
Citi Traders Join Wall Street Masses With Pink Slips
News  |  11/19/2012  | 
Another round of cuts is underway on Wall Street. Meanwhile, here is some advice for those who will be looking for new jobs in 2013.
A Disappointing Day For Wall Street Technologists
News  |  11/16/2012  | 
Goldman Sachs named 266 new managing directors, but only 3% of them are technologists.
Federal Reserve Releases Scenarios for Bank Stress Tests
News  |  11/16/2012  | 
The Federal Reserve released the economic scenarios, including a hypothetical sharp slowdown in China, that the biggest banks will use in the next round of stress tests.
MF Global Report: Regulators Need Better Grip on Finance
News  |  11/16/2012  | 
Poor supervision contributed to the downfall of futures brokerage MF Global, House Republicans said in a report.
As Layoffs Near 160,000, Banks Seen Shrinking for Good
News  |  11/16/2012  | 
Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come many will leave the shrinking sector for good.
Breaking Up Big Banks Still Not the Answer
News  |  11/16/2012  | 
There remains much work to fix the "too big to fail" bank problem, but breaking up big financial institutions is still not the answer.
SEC Ruling Creates New Job Opportunities
News  |  11/15/2012  | 
While many Wall Street firms are laying off employees, the SEC is providing some unexpected new opportunities.
Stephen Colbert Takes on HFT
Commentary  |  11/15/2012  | 
Stephen Colbert says the finance sector is safer now because Wall Street has removed the weakest link: man.
U.S House Committee Blames Everyone For MF Global's Collapse
News  |  11/15/2012  | 
Regulators, credit rating agencies and MF Global itself were all to blame for the brokerage's collapse last year, a U.S. congressional committee found.

DTCC Finds 1.3 Mln Soaked Securities in Sandy-Flooded NY Vault
News  |  11/15/2012  | 
The Depository Trust & Clearing Corp., which processes financial transactions and stores securities, has begun the long process of recovering about 1.3 million soaked securities that were stored in a 10,000-square-foot underground vault in a lower Manhattan skyscraper flooded by Superstorm Sandy.

Technology Fragility Threatens Markets
Commentary  |  11/15/2012  | 
Despite disaster recovery and business continuity plans that were implemented after Sept. 11 and then enhanced following the Northeast blackout in 2003, Hurricane Sandy has upped the DR/BC bar once again.
As iPad Continues To Flourish, PC Accelerates Its March Towards Death
News  |  11/14/2012  | 
The PC industry’s future appears to be even gloomier than previously thought. And it isn't doing anything to reverse, or adapt, to the trend.
Goldman Chief Outlines Risky Asset Reduction Under New Rules
News  |  11/14/2012  | 
Goldman Sachs Group Inc would have $728 billion in risk-weighted assets under yet-to-be-implemented Basel III capital rules, 67 percent more than the investment bank has under current regulations, Chief Executive Lloyd Blankfein said on Tuesday.

Glitch Prevents Trade In Over 200 Stocks On The NYSE
News  |  11/14/2012  | 
NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.

Ivy Asset Mgmt Settles With NY for $210 Mln Over Madoff
News  |  11/13/2012  | 
Ivy Asset Management agreed to pay $210 million to settle lawsuits over advising clients to invest with Ponzi schemer Bernard Madoff, the New York State Attorney General said on Tuesday.

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