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Knight Capital's Bad Week In Tweets
Last week one of the most respected and tech-savvy investment firms unleashed a new trading algorithm that went, in a word, haywire. The news was as bad as it was unbelievable: At one point the market maker owned $7 billion in unwanted stock. Traders inside Knight Capital had to scramble to undo the damage as managers sought emergency financing to cover the resulting losses of $440 million after 45-minutes of out-of-control trading. Advanced Trading has gathered the most pointed and revealing po
The Top 10 Mobile Apps on Wall Street
Creating apps for retail investors generally has been the top mobile priority for Wall Street firms. But as the technology continues to advance, retail apps are proving valuable for professional traders as well. Here are 10 top apps that are storming the Street.
Wall Street’s 5 Biggest Tech Fails
As the Knight Capital trading fiasco once again proved, in the race to be first, crashes will happen. But slowing down today’s high-speed marketplace would be akin to going back to the Stone Ages for market participants. High-speed trading is here to stay, and strategies will continue to grow more complex. But over the past two years, there have been a number of high-profile incidents in which an inability to harness the latest technologies that power our markets has cost industry players
Knight Capital Sets Twittersphere Afire, Just After #Knight Burns Itself
The tweets about Knight Capital’s $400 million and counting software glitch run the gamut from shocked, to sad, to “I told you so.” No one knows if Knight Capital will survive the weekend, but here is what people are tweeting as the firm searches for a lifeline.
The True Cost of HFT, Sandy Weill's About Face, Death Star of Finance, and more
Sandy Weill, the former Citigroup chief executive and shatterer of Glass-Steagall says the industry needs a return to the separation of commercial and investment banks, while a recent study on HFT reveals that the practice costs long-term investors $2.5 billion per year.
The Funniest Sandy Weill Twitter Responses
Former Citigroup CEO and the architect of the modern mega-bank dropped a bombshell on CNBC yesterday: We should break up the big banks that are too big to fail. This statement may seem simple and sensible but consider the source: this came from the man who created these very banking behemoths. Needless to say, Twitter was abuzz comparing Sandy Weill's truth bomb to other statements no one ever expected to hear. Enjoy.
Wall Street's High Crime Area, Libor Scandal Expands, Confidence Crisis, and More
The Libor scandal continues to spread, with more banks and regulators being placed under the microscope for their involvement in rate rigging. Meanwhile, Wall Street's image continues to take a pounding while UBS Americas' chairman strikes out on his own.
Morgan Stanley's Earnings – By the Numbers
It was earnings day for the sixth largest bank in the U.S. – and it wasn’t pretty. Revenue is down though profits were up compared to the first quarter of this year.
Hot Remarks From JPMorgan's Earnings Call
The investment bank's $2 Billion "Bad Bet" has blossomed to a staggering $5 Billion as it unwinds, and industry observers predict it could continue to grow. In a dramatic quarterly earning report, JP Morgan CEO Jamie Dimon got a grilling from financial reporters compared to his appearance before Congress last month. Here are some of the most dramatic quotes from this morning's conference call.
Wall Street Ethics, Derivatives Rules Loopholes, The Weirdness of PFGBest and More
Wall Street’s take on ethics and the downfall of PFGBest dominated financial news this week, while the CFTC finally approved rules for derivatives trading and HSBC admitted that for years it had done next to nothing to prevent money laundering.
From Romney's Hedge Fund Family Tree to Parliament's HF Treasure Chest: The Top Hedge Fund Tweets
What has the Twitterati been saying about hedge funds for the past few days? A potential First Lady invested a ton into her son's hedge fund, lawmakers in the UK want to grill the same hedge fund managers who donated a boatload of cash to their coffers and high-end ladies footwear were some of the hot topics. Advanced Trading chose a sample of the most provocative Tweets and gathered them into in one handy gallery. Did we miss your favorite? Send it to us and we'll re-tweet it in a hurry.
LIBOR Lowlights, RIM's Downfall, Where's Jon Corzine and more
The LIBOR scandal and the fall of Barclays' CEO Bob Diamond dominated financial services coverage this week, while others chatter about disgraced MF Global CEO Jon Corzine, RIM's continued downward spiral and Goldman Sachs new universe.
2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street
Specialized IT skills remain in short supply and are demanding a premium in the marketplace. Here are 10 highlights from the 2012 Salary Survey.
Low Latency Hype, Exchanges Go On Crisis Control, Dimon Talks Back, and More
Experts question the ongoing latency race, exchanges focus on crisis control and Dimon faces the House Financial Services Committee. Here is what people are talking about this week.
Europe Slides, Dimon Smacks Dodd-Frank, and a Hedgie Loves Greece
In the same week that summer decided to show up in New York, other corners of the financial world were heating up as well. Jamie Dimon got a grilling from the members of the House of Representatives after last week's Senate Banking Committee tongue bath. Meanwhile, hedge finds managers gathered in Monaco to comment on the continent's slide to oblivion, while one US hedge find manager is placing all of his bets on – Greece?! Advanced Trading serves up the hottest quotes of this week.
Retail Investors Flee, Lloyd's Work Ethic, Big Bodacious Data, and More
A few weeks after the botched Facebook IPO, experts continue to question the offering's long-term impact on the market, while Lloyd Blankfein gets some love and big data continues to grow. Here is what people are talking about this week.
The Top Dimon Testimony Quotes
Yesterday, JPMorgan CEO and Wall Street Golden Boy Jamie Dimon testified before the Senate Banking Committee and critics are calling the session a veritable love fest. Even though he was called to explain his firm's stunning $2 billion (and counting) bet gone wrong, not a silver hair was ruffled on the CEO's head. Here's a selection of killer quotes from the CEO himself, a US senator who actually challenged him and media commentators who watched as Dimon swatted away the softballs without breaki
Facebook Slams IPO Door, Zombie Hedge Funds, Activist Investors Get Bold, Can't Lose Investments, and More
The destruction of the IPO market by Facebook's botched public offering, the haunting of zombie hedge funds and Wall Street's struggles to attract new IT talent are just a few of the topics people on the Street were discussing this week.
What Keeps CIOs Awake At Night
The top quotes from Tabb Group's MarketTech 2012.
Wall Street's Top Technology Schools
Capital markets executives reveal their favorite schools for hiring computer programming and engineering graduates.
Millennials Taking a Bad Rap, SEC Inept?, More Bank Layoffs, and More Quotes of the Week
The buy side is starting to feel the commission squeeze, the SEC's incompetence, Volcker Rule scare tactics and hiring the best and the brightest are just a few of the this week's top quotes.
Mr. Dimon Goes to Washington: Top Quotes of the Week
Mr. Jamie Dimon is invited to speak before a few US senators, a man has a plan about saving AIG the next time the banks fail, and Greece inspires some Shakespeare in the Euro zone. If that weren't enough, we also hear from The Boss in this week's Advanced Trading Top Quotes of the Week.
From Facebook to Quants -- The Top Quotes of the Week
It wasn't all Facebook, Facebook, Facebook this week, although you could be excused for thinking that this was all anyone was talking about. Along with a badly bungled IPO, we found scintillating quotes about insider trading, quants vs. humans and a passionate defense of private equity from an unlikely source in a presidential election year. Enjoy AT's Top Quotes of the week -- and remember to have some fun this Memorial Day Weekend.
The Facebook IPO Debacle, JPMorgan Deja Vu, What Will RIM Do With the BlackBerry? and More Quotes of the Week
Facebook's flubbed IPO, too-big-to-fail banks, RIM/Blackberry's future, JPMorgan's financial circus deja vu and the euro's coming armageddon are just a few of the quotes that made it to this week's quote roundup.
Wall Street’s 9 Worst Bets Ever: From Nick Leeson to JPMorgan
In the wake of JPMorgan’s ill-conceived hedging strategy, which cost the bank its sterling reputation along with $2 billion and counting, Advanced Trading decided to highlight some of Wall Street’s worst bets ever.
Casino Banking, Quant Schools, Bad Banks, Clawbacks and More
JP Morgan's $2 billion trading gaffe continues to make headlines, closely followed by Facebook's IPO, as well as the search for tech talent and quants. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
JP Morgan's $2 Billion "Oops," the Euro's Demise, Millennials IT Workers, and More
JP Morgan makes a $2 billion trading error, the Euro may still flounder and millennials are having a big impact on the modern IT workforce. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
"Celebrating" Flash Crash's 2nd Anniversary; Can't Trust Brokers; and More Quotes of the Week
This week we "celebrate" the second anniversary of the Flash Crash, as well as hear about trust between investors and brokers, mobile security, economic uncertainty and telephone IVRs. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
May Day: Occupy Wall Street Calls a General Strike
On May 1st, the organizers behind Occupy Wall Street called for a general strike. Although no unions joined in, protesters revived their demonstrations against Wall Street. Here's a look at some of people who are pushing for change.
Blankfein Sounds Off, Dow 15,000?, Taibbi on Senate’s MF Global Inquiry, and more Quotes of the Week
Lloyd Blankfein opens up (well, sort of), Dow 15,000, Matt Taibbi on the Senate's MF Global hearings and the increasing use of consumer devices in the enterprise, also known as Bring Your Own Device (BYOD), are some of the topics people are chattering about this week. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week. Enjoy!
BlackRock Warns Banks, Is Big Data Overrated?, and more Quotes of the Week
Too-big-to-fail, finding the best price, big data and off-exchange trading dominated some of the chatter this week. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week. Enjoy!
Top Quotes of the Week
It wasn't all bad luck for the capital markets this week: Hedge funds had a decent first quarter despite a slowdown in jobs numbers, BlackRock might be heading into new territory as hedge fund managers take a hard look at their counterparties, and the head of the IMF didn't pull any punches when assessing today's global economy. At least we can admire the nice weather and some of the best quotes of the week.
Top Quotes of the Week From the Street
It's been another busy week on Wall Street. BlackRock noted that it has no plans to cannibalize Wall Street, Barclays' CEO was paid $18 million too much, CIOs are sure they know best, and Goldman Sachs bankers only had to work 7 hours to pay a multimillion dollar SEC fine. Wall Street & Technology brings you some of the choicest quotes from Wall Street.
9 Biggest Mistakes CIOs Make
Managing a multitude of IT projects with a virtually flat budget in a highly competitive environment is no easy task. But CIOs are making a number of serious mistakes in running the IT organization, such as trying to build too much internally or focusing on the wrong type of transparency, which could ultimately damage their company, and the industry at large. WS&T sat down with four experts to discuss what heads of IT departments are doing wrong. Here is the list of the biggest 9 mistak
Quotes of The Week on The Street
It's been quite a week on the Street. President Obama passes the JOBS Act to help small businesses, Canadian bank RBC refutes the CFTC's accusation that it engaged in hundreds of millions of dollars in illegal futures trades, firms tackle the Volcker Rule head on, and Europe is dragging everyone down. Wall Street & Technology brings you some of the best and brightest quotes from the Street.
The Top 9 Most Costly Financial Services Data Breaches
The recent data breach involving MasterCard and VISA card information is only the latest in a string of hacks and thefts that have cost financial institutions multimillions of dollars. Here are the biggest most recent data breaches.
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.
From Fame to Fortune: 7 Former Pro Athletes Who Are Winning on Wall Street
With the rush of competing in a pressurized environment that’s reminiscent of their playing days and the lure of big paychecks, former star athletes, including Hall of Fame QB Steve Young, see finance as a natural second career.
The 9 Most Notorious Insider Trading Cases of 2011
Of the 57 insider trading cases brought by the SEC this year, Advanced Trading highlights nine standouts, like the case of Raj Rajaratnam, in a rogues gallery of accused and convicted inside traders.
Meet Advanced Trading's Gold Book 2011 Honorees
This year's Gold Book honorees prove that even smaller players can excel in the fast lane.
Top 10 Occupy Wall Street Protest Signs
Advanced Trading snapped photos of its favorite homemade protest signs while reporting from the Occupy Wall Street event in lower Manhattan.
Meet Wall Street & Technology's Gold Book 2011 Honorees
Wall Street & Technology has honored four financial services technology leaders in its 2011 Gold Book.
6 Brokerages Leading the Way in Social Media
It takes a lot to stand out online these days. Here are six brokerages that are leading the way with innovative social media strategies.
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Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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