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News & Commentary
Content tagged with Exchanges posted in August 2012
Knight Accepts Nasdaq's $62 Mln Facebook Payback Plan
News  |  8/30/2012  | 
Knight Capital Group Inc said it accepts Nasdaq OMX Group Inc's $62 million payback plan for firms that suffered losses on Facebook Inc's market debut due to Nasdaq technical glitches, but rejects the idea of having to waive the right to sue the exchange.

Nasdaq Systems Issue Impacts Short Sales, Points to Ongoing E-Trading Glitches
Commentary  |  8/23/2012  | 
This is the latest in a series of technical glitches that have eroded investor confidence in the market infrastructure.
Facebook's Director in Spotlight After Cashing Out
News  |  8/22/2012  | 
Peter Thiel was the first investor to take a gamble on Facebook Inc. Now some people are wondering whether, in selling most of his stake, the Facebook board member is signaling to others that it's time to rush for the exits.

Equity Market Structure Confidence at All-Time Low
News  |  8/21/2012  | 
Only 2 percent of capital markets industry professionals indicate their market structure confidence is very high, according to survey results from TABB Group.
On CME's Move to London: Whatever You Do, Don't Mention the Merc
News  |  8/21/2012  | 
It's probably a good thing for the CME Group that the plans to set up a new European exchange bear almost no resemblance to a costly, failed effort by its New York unit to cross the Atlantic eight years ago.
Battle of the Exchanges Heats Up as CME Expands Into Europe
News  |  8/20/2012  | 
CME’s announcement is a challenge to Europe's biggest derivatives trading exchanges and comes after regulators blocked Deutsche Borse's merger with NYSE Euronext.
CME Sets Sights on NYSE Euronext and Deutsche Boerse
News  |  8/20/2012  | 
CME Group Inc, the main U.S. futures market, plans to launch a European derivatives exchange in a challenge to NYSE Euronext and Deutsche Boerse, which dominate the European futures business.
GOLD BOOK 2012: Newedge's Stephen Davy Is Making a Difference
News  |  8/19/2012  | 
CIO Stephen Davy is leading efforts to analyze and enhance Newedge's processing systems in order to differentiate the firm's global clearing and execution business.
GOLD BOOK 2012: Direct Edge's Saro Jahani Chooses Stability Over Speed
News  |  8/19/2012  | 
For new Direct Edge CIO Saro Jahani, stability and low latency are the pillars of IT performance, and playing in the sandbox is serious business.
Would Going Back to Simpler Times Re-Inflate the Equities Market?
Commentary  |  8/14/2012  | 
Many market participants are saying we need to go back to simpler times, when spreads were wider, trading was slower, markets were simpler, research was more prevalent, and capital was more pervasive. But would that really fix the equity markets?
The Time Has Come for Options Dark Pools
Commentary  |  8/13/2012  | 
After Knight's Fall, Does Your Broker Have a Kill Switch?
News  |  8/8/2012  | 
After a trading algorithm executed by Knight Capital went rogue and lost the market-maker roughly $400 million in a single trading day, buy side traders need to know if their broker-dealers can stop a runaway trade. Advanced Trading spoke with Michael Chin, CEO of financial services firm Mantara, which offers a kill switch for brokers and the sell side to stop trades that start to misbehave.
Will Knight Capital's Trading Disaster Hurt Market Confidence?
News  |  8/7/2012  | 
If history is a guide, confidence in market structure will take another hit following Knight Capital's $400 million trading software glitch.
Interactive Data 7Ticks Expands in Canada
News  |  8/7/2012  | 
The market data provider added a Point-of-Presence at the Q9 data center in the Toronto area, to meet customer demand for connectivity to new exchanges and alternative trading systems in the region.
Was Knight's Disaster Caused By Lack of an Off Switch?
News  |  8/6/2012  | 
If true, this marks a gross oversight, as algorithms fire off hundreds of shares per second.
Fragmentation Is Redlining the Markets
Commentary  |  8/6/2012  | 
Fragmentation is wrecking one of the greatest financial markets of all time, according to Tabb Group’s Larry Tabb. In the wake of the Knight Capital fiasco, he says, the SEC should think hard about the market structure it has created, and do its utmost to rein it in.
Knight Gets $400 Million Rescue
News  |  8/5/2012  | 
A group of investors will rescue embattled market maker Knight Capital Group Inc in a $400 million deal that keeps the company in business, Knight said on Monday, but comes at a huge cost to investors.
Investors in Illiquid ETFs May Get Hurt by Knight Debacle
News  |  8/3/2012  | 
Retail investors and traders who want to buy and sell small, illiquid exchange-traded funds may be unwittingly losing money in the aftermath of the Knight Capital Group trading disaster Wednesday, according to an analysis by IndexUniverse, a San Francisco-based ETF research provider.
How to Prevent Market Mayhem Like the Knight Fiasco
Commentary  |  8/2/2012  | 
It's up to the industry, and not the regulators, to shore up best practices to make sure incidents like Knight Capital's trading error don't wreak havoc in the marketplace.
Are Debacles Like the Knight Capital Fiasco Inevitable?
News  |  8/1/2012  | 
Although FIX Protocol's new risk control guidelines take aim at market dislocations like the one on display Wednesday, Woodbine's Matt Samelson says no form of regulation or oversight can stop them from happening.
Error By Knight Capital Roils U.S. Stock Trading
News  |  8/1/2012  | 
A rush of unusually high volume ripped through dozens of stocks on the New York Stock Exchange in early trading on Wednesday due to a technology error at market maker Knight Capital, becoming the latest in a series of high-profile mishaps that have damaged investor confidence in public markets.
Knight Says 'Technology Issue' Caused Routing Problems
News  |  8/1/2012  | 
Electronic trading firm Knight Capital Group Inc said on Wednesday that a "technology issue" in its market-making unit had affected the routing of shares of about 150 stocks to the New York Stock Exchange, where abnormal volatility roiled the markets in early trading.
Error by Knight Capital Roils U.S. Stock Trading
News  |  8/1/2012  | 
A rush of unusually high volume ripped through dozens of stocks on the New York Stock Exchange in early trading on Wednesday due to a technology error at market maker Knight Capital, becoming the latest in a series of high-profile mishaps that have damaged investor confidence in public markets.
Knight To Blame For Rogue Algo?
News  |  8/1/2012  | 
Wild volatility in Wednesday trading has stoked fears of another technology glitch that could further damage investor confidence.
ICE Profit Climbs 18 Pct on Strong Energy Futures Demand
News  |  8/1/2012  | 
IntercontinentalExchange Inc reported an 18 percent increase in quarterly profit on Wednesday, topping expectations, as revenue rose on strong demand for the exchange and clearing house operator's energy futures.
FIX Protocol Risk Checks Take Aim at Fat Finger Trades, Errant Orders
News  |  8/1/2012  | 
With trading strategies becoming increasingly complex, FIX Protocol Limited is taking aim at errant orders and fat-finger trades with an updated set of guidelines for brokers and their buy-side clients.

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