Content posted in February 2013
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Data Opportunities: The Concepts Don't Change Over Time
Data volumes are growing and the technology is better, but the fundamental principles of data analysis remain the same.
Dark Pools Grab Market Share —Rosenblatt Report
A sharp decline in volatility in January set the stage for dark pools to gain market share in January, especially those focusing on institutions and block trading, according to Rosenblatt Securities' report.
London Whale Didn't Cause Lehman Bankruptcy, JPMorgan Says
The former JPMorgan Chase trader known as the "London Whale" was not responsible for Lehman Brothers' bankruptcy and should not be dragged into an $8.6 billion lawsuit.
Risk Vs Innovation: 5 Steps To Finding the Right Balance
With low budgets and low tolerance for risk, firms that want to forge ahead need to strike the right balance between innovation and risk.
London Mayor Says EU Bank Bonus Cap Helps New York, Singapore
London Mayor Boris Johnson lashed
out at a European Union cap on bankers' bonuses on Thursday,
warning that the move will shunt banking business towards
Zurich, Singapore and New York.
CIBC Profit Falls 4 Percent on Lehman Brothers Charge
Canadian Imperial Bank of
Commerce reported a 4 percent drop in quarterly profit
on Thursday due largely to a C$148 million charge for a legal
settlement with bankrupt U.S. bank Lehman Brothers.
Can the CFTC Execute on its Mission?
The CFTC is on a mission to migrate interest rate and credit derivatives to transparent marketplace, fulfilling a role that is similar to what the first SEC Commissioner Joseph Kennedy did in the 1930s to revive equities, writes Andrew Waxman.
Bloomberg Vault Rolls Out Cloud Voice Recording Service
Orange Business Services - Trading Solutions will power the voice recording capabilities for the cloud based service, leveraging Orange's expertise in voice communications.
U.S High Court Limits SEC Authority To Seek Penalties
The U.S. Supreme Court on
Wednesday limited the authority of the federal government's top
securities regulator to seek civil penalties over conduct that
occurred more than five years before investigators took action.
The Analytics Solution To Elusive Alpha
Unless you're consistently more lucky than good, using newer data analytics tools seems like your best bet at finding new alpha.
Finally the Right Time for Swap Futures
While swap futures in the past have not gained traction, the market environment today is ripe, as there is impetus for firms to adopt risk-equivalent, low-cost alternatives to cleared swaps.
Will Traders Reset their Alarms for Nasdaq's 4 A.M. Pre-Market Session?
In an effort to boost volumes and fees, Nasdaq OMX plans to extend its pre-market session to 4 a.m., to capture global participants. But will US traders wake up earlier?
Wall Street Moving Toward a Mobile First Approach
The popularity of smartphones and tablets has many financial services firms building apps specifically for mobile devices, while desktop apps are becoming an afterthought.
US High Court Limits SEC Authority to Seek Penalties
The U.S. Supreme Court on
Wednesday limited the authority of the federal government's top
securities regulator to seek civil penalties over conduct that
occurred more than five years before investigators took action.
StanChart in Talks to Buy Morgan Stanley India Wealth Unit—Sources
Standard Chartered Plc
is in talks to buy Morgan Stanley's Indian private wealth
management unit, which manages about $1 billion including loans,
two sources with direct knowledge of the situation said on
Wednesday.
Insider Trader Rajat Gupta Ordered To Pay Back Goldman Sachs
Goldman and other banks are making claims based on a law that allows corporations to be reimbursed as a victim of an insider trading crime.
Goldman Sachs, JPMorgan Slash Workforce
The Yin and Yang of Wall Street, Jamie Dimon and Lloyd Blankfein, will cut their workforces by 20,000 and 4,000 jobs respectively.
JPMorgan Chase to Cut Up to 4,000 Jobs in 2013
JPMorgan Chase & Co
plans to cut 3,000 to 4,000 jobs in its consumer bank in 2013,
representing about 1.5 percent of the company's overall
workforce, as the bank tries to improve the profitability of its
branches.
Wall St Cash Bonuses Seen Higher in 2012 -NY State Comptroller
Wall Street cash bonuses are
forecast to have risen in 2012 to their highest since 2010 but
still be below pre-crisis levels, New York state's comptroller
said on Tuesday.
Newedge Pushes into OTC Derivatives Clearing
Newedge said it cleared its first OTC interest rate swap on CME Clearing as it expands to take advantage of new regulations amid reports that the company is up for sale.
The Near Impossible Battle Against Hackers
Dire warnings from Washington about a "cyber Pearl Harbor" envision a single surprise strike from a formidable enemy that could disable the financial system or cripple the government.
Europe's Small Stocks Lure Fresh Cash, Set to Take Off
Shares in Europe's smaller
companies are starting to attract fresh investors and should
outperform larger firms this year as the continent's relative
minnows belatedly felt the impact of central bank stimulus.
CME Said to Approach Deutsche Boerse for Merger Talks -Bloomberg
CME Group Inc is said to have
approached Deutsche Boerse AG to consider merger
talks, Bloomberg tweeted on Monday.
The SEC’s New Technology Drive – Pass or Fail?
SEC Chairman Elisse Walters has highlighted what the regulator is doing to prevent technology glitches and fraud. Here are some of the top reactions to its new tech drive.
Judge Extends Freeze on Goldman Account Linked to Heinz Trades
A U.S. judge has extended a
freeze on a Swiss account linked to possible insider trading in
H.J. Heinz Co call options just before the ketchup maker
agreed to be bought by Warren Buffett's Berkshire Hathaway Inc
and Brazilian investment firm 3G Capital.
Down Mexico Way
Market structure in Mexico leads the way for Latin American electronic trading with some serious new infrastructure and support for local institutional trading and north to south flow from statistical arbitrage.
U.S. Market Regulators Not Expecting Job Cuts From Sequestration
The country's top Wall Street regulators are not expecting layoffs or furloughs in the event that Congress is unable to avoid across-the-board spending cuts known as "sequestration."
known as "sequestration."
Ex-Infosys Exec Aims to Shake Up IT Industry Billing Model
A former Infosys Ltd executive is challenging the IT outsourcing industry's billing model by charging for results instead of basing fees on the time and labor put in by the armies of staff working for India's big firms.
and labour put in by the armies of staff working for India's big
firms.
Ex-Goldman Sachs Prop Traders Fail At Hedge Funds
Benros Capital joins the list of hedge funds run by former prop traders at Goldman Sachs to bite the dust. Wasn't this the reason the banks paid those bonuses during the bailouts?
Mobility's Undeniable Benefits
Mobile is becoming so pervasive that only after the mobile functionality is developed are firms thinking about how to apply that same functionality to desktop browsers.
Wealth Managers' Mobile Disadvantage
Sluggish adoption of the technology keeps financial advisers a step behind mobile-savvy customers.
Regulators Not Expecting Job Cuts from Sequestration
The country's top Wall Street regulators are not expecting layoffs or furloughs in the event that Congress is unable to avoid across-the-board spending cuts known as sequestration.
CFTC Charges CME Over Client Data Breaches
The top derivatives regulator sought to fine CME Group and ban two former employees for life for leaking client data.
Ex-Infosys Exec Aims to Shake Up IT Outsourcing Billing Model
A former Infosys executive is challenging the IT outsourcing industry's billing model by charging for results instead of basing fees on the time and labor.
Can We Do Better? Ethics Needs to Come Out of Hiding
Do you think "Ethics" should be more ingrained in every part of the business, rather than just an afterthought, or separate HR course? And should it have its own category on this site, rather than bury it?
Rebuilding Trust in Our Markets in the Year Ahead
While regulators focus their efforts on automated or manual exchange-level risk management, firms should ensure that they have proper processes in place to manage risk from their own perspective in order to avoid the pain of repeating notable — and possibly avoidable — mistakes.
HFT Demise as the Precursor to Changes in the Markets Landscape
As new marketplaces and business models emerge, the industry should be prepared for an entirely new wave of custom IT systems and applications.
4 Corporate Bond Electronic Trading Trends to Watch in 2013
As corporate bond markets continue to evolve towards automation and electronic trading, iTB Holdings’ CEO Michael Chuang identifies some ongoing trends that will continue into the New Year.
Some Questions for the SEC on the New MIDAS Surveillance Plans
Although the SEC's plans to monitor market activity through MIDAS are important, is the commission still over matched against the HFT community?
Pension Funds Look to Strip JPMorgan CEO Dimon of Chairman Title
Overseers of government worker pension funds pressed JPMorgan Chase to strip Chief Executive Jamie Dimon of his additional title of chairman after the London Whale fiasco.
Ex-Soros CIO Begins Courting Capital for New Fund
Keith Anderson, the former chief investment officer for billionaire trader George Soros' money management firm, is raising money for a new macro hedge fund.
Oracle Financial Services Introduces New Enterprise Model Risk Application
New product for model risk helps financial institutions meet regulatory demands.
Finding Alpha in the New Normal
Adapting to the new normal of the equity markets, diversifying into other asset classes, and confidently managing the risks for healthy returns can be achieved by understanding, managing and analyzing data.
Corzine Faces Lifetime Trading Ban
The former Master of the Universe might be banned from futures trading in the wake of the (suspicious) MF Global collapse.
Looking for A New Tech Job? Brush Up on Your Linux Skills
Linux salaries jumped nine percent this year, far outpacing the five percent jump in tech salaries overall.
SEC Weighs Fixes after Trading Technology Debacles
Exchanges and other trading platforms would have to perform tests to prevent software errors from unleashing havoc on the market under proposed rules being crafted by regulators.
Forecasters Caught Napping by Pace of Currency Moves
Rapid moves in foreign exchange markets have sent strategists scrambling to revise 2013 forecasts as resurgent currencies outpace price predictions.
Regulators Weigh Fixes After Trading Debacles
Exchanges and other trading platforms would have to perform tests to prevent software errors from unleashing havoc on the market under proposed rules being crafted by regulators.
Battling Ponzi Schemes and Snake Oil Salesmen
What can the CFTC do to prevent future cases of blatant fraud, as well as the losses, similar to cases like MF Global and Peregrine Financial Group? Andrew Waxman offers some risk management techniques regulators should consider.
Thomson Reuters Adds Metals Analysis and Research to Eikon
Thomson Reuters integrates Thomson Reuters GFMS analysis to provide Eikon customers with access to research and forecast analytics for the precious and industrial metals markets
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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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