Content posted in June 2012
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Can Regulators Realistically Enforce the Volcker Rule?
As regulators gear up to phase in the Volcker Rule -- an element of the Dodd-Frank financial reform package -- experts say a myriad of obstacles may keep the law from functioning as intended.
U.S. Exchanges Urge Brazil to Open Bourse Competition
U.S. exchanges Direct Edge and BATS Trading on Friday urged Brazilian securities regulators to take bolder steps to open competition in the local bourse industry as they prepare to enter the South American nation's burgeoning financial markets.
FINRA Reports $84 Mln Fiscal Year Loss
The Financial Industry Regulatory
Authority reported an $84 million loss for its 2011 fiscal year,
with weak industry revenue, trading volume and low investment
returns among the factors contributing.
Euro Zone Decides New Measures to End Debt Crisis
Euro zone leaders bolstered
their crisis-fighting arsenal on Friday by giving their bailout
funds more flexibility to stabilise bond markets and to directly
recapitalise banks in future.
Nomura Halves CEO Pay in Bid To Close Insider Probe
Nomura Holdings admitted to
sweeping breaches of safeguards on confidential client
information and will slash top executives' pay and briefly shut
an equity sales desk as Japan's largest brokerage seeks to
resolve a damaging insider trading probe.
FINRA Reports $84 Mln Fiscal Year Loss
The Financial Industry Regulatory
Authority reported an $84 million loss for its 2011 fiscal year,
with weak industry revenue, trading volume and low investment
returns among the factors contributing.
How RIM Murdered BlackBerry
RIM made a number of mistakes over the years that could now spell the end for Wall Street's formerly favorite smartphone.
Facebook IPO Leads SEC to Scrutinize Nasdaq's Systems
The watchdog is investigating Nasdaq's computer systems and processes related to the flawed Facebook IPO on May 18. Will the regulator demand system upgrades?
Hedge Fund Black Diamond Capital Appoints New Managing Director
Industry veteran Jean Fleischhacker will help lead marketing efforts for structured products.
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.
Bank Interest Rate Rigging Scandal Widens
A scandal over the rigging of
key interest rates could create a legal morass that may hamper
the global banking industry for years, analysts said, as the
head of Barclays fought to hold onto his job.
Wall Street Rallies After EU Agreement to Stabilize Banks
Wall Street rallied on Friday,
with major indexes trimming quarterly losses, after euro zone
leaders agreed to allow rescue funds to be used to stabilize the
region's banks.
Broker ICAP Cuts Up to 100 Jobs as Industry Struggles
ICAP is cutting
up to 100 staff in London and New York, people familiar with the
matter told Reuters, as the world's largest derivatives broker
aims to drive down costs by $77.5 million this year.
Peter Madoff's Guilty Plea Points to Perils of Being a Chief Compliance Officer
Though he claimed to have no knowledge of his brother Bernard's multi-billion dollar Ponzi scheme, Peter Madoff has agreed to forfeit $143 billion and serve 10 years in prison.
JP Morgan Adds Risk Staff, As Potential Losses Spiral
The new hires are in the chief investment office, the unit responsible for JP Morgan’s recent well-publicized trading losses.
Nasdaq to Detail Facebook Compensation to SEC Next Week
Nasdaq aims to file a plan with the SEC detailing how it will compensate market makers who lost money during the botched trading debut of Facebook.
Bernard Madoff's Brother to Plead Guilty
Peter Madoff, the brother of imprisoned swindler Bernard Madoff, is expected to plead guilty to criminal charges on Friday.
"Big Boy" Email Nails Barclays in Libor Rate Fixing Case
"Done ... for you big boy," read a message sent by a Barclays banker to one of the lender's traders, who had asked him to fix a key lending rate
artificially low.
Buy Side Turns to Options as Strategies Grow More Complex
Asset managers are expanding their use of options, and with their strategies becoming more complicated, they're investing in powerful technology to aid the front and back office.
JPMorgan Stock Plunges on Report Trade Loss Could be Bigger
JPMorgan Chase & Co
came under renewed scrutiny after the New York Times reported
that losses from a bungled credit-derivatives trade could be as
much as $9 billion, much more than earlier estimated.
Nasdaq to Detail Facebook Compensation to SEC Next Week
Nasdaq aims to file a plan
next week with the U.S. Securities and Exchange Commission
detailing how it will compensate market makers who lost money
during the botched trading debut of Facebook, according
to a person familiar with the matter.
Exchanges Fight Back Against the Dark Pools
Facing a dilemma of how to compete with dark pools and internalizers, exchanges are planning their own dark venues to offer better prices to retail investors.
Morgan Stanley Faces Facebook Fallout, Limits Damage
Morgan Stanley was quick to dismiss suggestions its status as the king of initial public offerings for Silicon Valley was under threat because of the botched Facebook Inc IPO last month.
Big Banks Craft 'Living Wills' in Case They Fail
Five of the largest US banks are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
US Charges 24 people in Massive Hacking Sting
Twenty-four suspected hackers have been arrested in a sting operation spanning four continents that targeted online financial fraud of stolen bank information.
Cloud Vendors Target Alternative Asset Managers, FX Clients
Gravitas and Portware are both launching new offerings, as the cloud continues to grow in all areas of the financial services industry.
Portware Boosts FX Platform with Enhanced TCA
The firm said the upgrade was driven by demand on the buy side for better execution quality, and for tools to better manage institutional order flow.
Investment Advisor Grandeur Peak Opts For Linedata Trading Platform
Grandeur will use Linedata's Longview to aid its trading decisions and to fire off transactions.
What Went Wrong: J.P. Morgan to Disclose Details on Multibillion-Dollar Derivatives Loss
On Friday's second quarter earnings call, J.P. Morgan will shed more light on its recent $2 billion -- and counting -- hedging loss. We break down what went wrong.
C.Suisse Shares Hit New Lows Amid Capital Worries
Credit Suisse shares
hit a new 20-year low on Wednesday as a board endorsement of
American chief executive Brady Dougan's strategy failed to
banish investor skepticism that he can meet demands for a
stronger capital base.
Morgan Stanley Faces Facebook Fallout, Limits Damage
Morgan Stanley was
quick to dismiss suggestions its status as the king of initial
public offerings for Silicon Valley was under threat because of
the botched Facebook Inc IPO last month. And that
confidence may warranted.
Canada's Asset Managers Take Prudence in Risk Management to the Global Market
Considering the state of the global markets, you'd think Canadian firms would avoid trading outside their own country. But Canadian asset managers are looking to trade with the same preparedness that helped them survive the 2008 credit crisis.
Market Behavior Continues to Defy Logic When It Comes to Risk Management
The sovereign debt crisis has been going on for months, even years, but firms are still unprepared to manage risk and take precautions as they face increased regulation and greater market volatility.
Event-Based Traders Now Have Access to Macroeconomic Data
Selerity expands global coverage of macroeconomic event data in both developed and emerging markets.
Can Social Media Sharpen Quant Models?
Experts scoff at the idea of social media-based sentiment analysis being the backbone of a trading strategy. But it could hold promise as a part of a multifactor quant model.
Beyond Dodd-Frank: The Dire Consequences of Inaction
Many buy-side firms are only addressing the basic and imminent requirements for counterparty risk management. What are firms missing, and what will it cost the industry?
3 Steps to Achieving Zero Infrastructure in the Trading Industry
As industry profits languish, many firms are asking, 'Can we get to a point where we have zero infrastructure?'
Thomson Reuters Adds Psychological Analysis to Machine Readable News
The indices can identify optimism, gloom, stress and uncertainty, among other emotions, to support under-the-radar investment hypotheses.
Hong Kong Exchange Renews with Nasdaq OMX's Platform
Upgrades derivatives trading system with Nasdaq OMX's Genium-INET platform.
Credit Suisse to Make Heavy Job Cuts in European Investment Bank
Credit Suisse plans to cut up to one-third of senior employees in
its European investment bank, as a weak economy and tighter regulation continue to erode capital raising and advisory activities.
Research Firm Exec Arrested on Insider Trading Charges
U.S. law enforcement
authorities said on Tuesday they arrested and charged an
executive at an investment research firm as part of the
government's wide-ranging probe of insider trading at the
now-defunct Galleon Group hedge fund.
UK Central Bank Sees Signs of Slowdown in US, Emerging Markets
Britain's economic outlook has worsened markedly in the space of just six weeks due to the deepening euro zone crisis and signs that a global slowdown is taking root in the United States and emerging markets, the Bank of England said.
Deutsche Bank Algo to Help Buy Side Navigate the Close
The investment bank beefs up its sales staff with new hires and unveils an algo that can handle significant market data volumes at the close.
Bloomberg Updates Service With Interactive Research Platform
The firm said the analysis given by Bloomberg Industries is the latest major update to the Bloomberg Professional Service, which has more than 310,000 subscribers worldwide.
Bloomberg Ups Ante In Research Market, Launches Bloomberg Industries
Bloomberg Industries is a real-time research platform with over 100 analysts covering as many markets.
Inside The SEC’s Tech Department
The Commission has long been derided for being out-of-touch and poorly staffed, but the SEC has recently been quietly shaking things up in its technology department.
MarketPrizm Unveils Forex Trading Platform: PrizmFX
The system features high-speed connectivity and co-location to ECNs and liquidity pools around the world.
Be Afraid: Some See Shades of 2008 in Euro Crisis
Some prominent American investors and strategists are using the words grim, serious and terrifying to describe the worsening debt crisis in the euro zone and its impact on the global economy.
BIS Backs Banking Union to Ease Euro Zone Crisis
Creating a banking union for the euro zone could break the fever gripping the shared currency and help put the euro on a viable long-term
footing.
Vertex Analytics Announces CEP-Based Futures System
The hosted solution provides CEP-based futures market data and analytics, with both historical and real-time data.
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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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