Speed and Market Efficiency: Competition Over Mandate?
When the speed of the price provider and the price taker are not in parity, the market becomes inefficient and seemingly unfair. We can mandate slower markets, a wider quote or faster technologies, or hold market professionals accountable and let competition run its course.
Take Heed The Lessons From The 1962 Flash Crash
The original Flash Crash occurred on May 28, 1962. The Dow Jones Industrial Average fell sharply in 20 minutes that day, with some stocks plummeting more than 9 percent in less than 12 minutes. The SEC launched an investigation, but its cause remains undetermined.
BTIG Annual Commissions for Charity Day
BTIG, a New York-based broker-dealer, held its 8th annual Commissions for Charity Day earlier this month. The event raised more than $4 million for donation to over 100 children's charities across the country. Celebrities including Michael J. Fox, Matt Dillon, John McEnroe, Joe Girardi, Reggie Jackson and Nick Swisher were on hand to help answer phones and support their chosen charities.
Nasdaq OMX, FactSet Team to Give Corporate Intelligence
Nasdaq OMX said today that it formed a partnership with analytical applications provider FactSet Research Systems Inc. to create a research platform enabling users to monitor public and private companies along with global capital markets in real-time.