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News & Commentary
Content tagged with Compliance posted in July 2010
SEC Fines Citigroup $75 Million For Misleading Investors on Subprime Exposure
News  |  7/30/2010  | 
The U.S. Securities and Exchange Commission charged Citigroup Inc. with misleading investors about the its exposure to subprime mortgage-related assets and hit the firm with a $75 million fine.
Dodd-Frank Legislation: How the Law Might Really Impact the Capital Markets
Commentary  |  7/28/2010  | 
While opinions vary, Matthew Samelson and Sean Owens of Woodbine Assoc. weigh in on the Dodd-Frank law and its impact on systemic risk, derivatives, proprietary trading, fixed income and liquidity.
Execution Quality:Electronic Order Books Dominate
Commentary  |  7/28/2010  | 
New reports from Celent on Execution Quality in NYSE and Nasdaq stocks found that electronic order books (EOBs) such as BATS, Nasdaq, NYSE Arca and Direct Edge's EDGA and EDGX, are leading performers when speed and price are taken into account, but the NYSE specialists/DMMs are the fastest, except for small orders.
NASDAQ OMX to Acquire Market Surveillance System Provider SMARTS
News  |  7/27/2010  | 
The acquisition is part of NASDAQ OMX's strategy to diversify its commercial technology business and enter the broker surveillance and compliance market, Nasdaq said.
Nasdaq OMX to Acquire Australia's SMARTS Group, Surveillance System Provider
News  |  7/27/2010  | 
Allows Nasdaq OMX to diversify commercial technology business and enter broker surveillance and compliance market.
Knight's Stephen Kay Named 2010-2011 President of STANY New York
News  |  7/22/2010  | 
During his one-year term, Kay will focus on STANY’s educational role, helping members understand new regulations and other issues affecting the markets.
Finra Hits Deutsche Bank With $7.5 Million Fine Over Subprime Reporting
News  |  7/21/2010  | 
The Financial Industry Regulatory Authority said it fined Deutsche Bank with a $7.5 million fine for misrepresenting the percentage of delinquent mortgages in the prospectus of six subprime residential mortgage-backed securities issued in 2006.
NYSE Arca Rolls Out Collar To Prevent Errant Trades
News  |  7/15/2010  | 
NYSE Arca said today that it filed with the U.S. Securities and Exchange Commission to roll out a price collar designed to safeguard the execution of market orders.
Cloud Of Uncertainty Hovers Over Volcker Rule With Finance Reform Set To Pass
News  |  7/14/2010  | 
Although Senate Democrats appear to have enough votes in tow for a historic reform of the nation’s financial regulations, a cloud of uncertainty hovers over the Volcker Rule as regulators still have to sort out the definition of proprietary trading, experts said at a webinar sponsored by Trading Cross Connects US LLC.
The Volcker Rule Ban on Proprietary Trading: A Practical Approach to Implementation
Commentary  |  7/14/2010  | 
Instead of attempting to trace speculative risk-taking to particular strategies, traders, or positions, Woodbine Assoc. Director Fixed Income/Derivatives Sean Owens proposes that regulators focus on book or portfolio-level market risk using a Value-at-Risk (VAR) or unit of risk measurement.
Princeton Financial Systems Releases MIG21 7.0 Compliance Solution
News  |  7/13/2010  | 
The new technology and functionality of MIG21 7.0 boosts the quality of configuration transfer while further accelerating the configuration process, according to Princeton.
CBOE Keeps Exclusive Rights In Legal Battle Against ISE, OCC
News  |  7/9/2010  | 
The Chicago Board Options Exchange claimed a legal victory against the International Securities Exchange, LLC on Friday after an Illinois state court ruled the ISE cannot list or offer a market for trading options on the S&P 500 or Dow Jones Industrial Average indexes.
Financial Regulation Reform's Impact on Hedge Funds
News  |  7/8/2010  | 
How will financial reform legislation impact the hedge fund industry? Paul Roth, who represents 50 of the top 100 hedge funds as a partner at Schulte, Roth & Zabel, discusses his views in thie MSNBC video clip.
Colocation and Liquidity Provisioning: An Uneven Playing Field
Commentary  |  7/7/2010  | 
Enhanced access to trade execution venues has attracted considerable attention from the industry, the media and regulators. Batterymarch’s Director of Trading Dragan Skoko discusses how colocation has tipped the balance between liquidity providers and users.
Is The SEC's Circuit Breaker Inviting Rogue Traders?
News  |  7/7/2010  | 
The test run of a market-wide circuit breaker instituted last month by the U.S. Securities and Exchange Commission has been well-received across Wall Street, but could it open a Pandora's Box of rogue behavior as currently constructed?
Is The SEC's Circuit Breaker Inviting Rogue Traders?
Commentary  |  7/7/2010  | 
The test run of a market-wide circuit breaker instituted last month by the U.S. Securities and Exchange Commission has been well-received across Wall Street, but could it open a Pandora’s Box of rogue behavior as currently constructed?
Security Traders Association CEO Giesea To Retire
News  |  7/7/2010  | 
The Security Traders Association said today that president and chief executive John Giesea is retiring after a decade at the helm. The advocacy group, which formed a committee to find a new CEO, added that Giesea will remain in the role until a successor is appointed.
SEC Circuit Breaker May Not Have Stopped May 6 Crash
News  |  7/1/2010  | 
Shares of Citigroup Inc. triggered alarm across Wall Street last week when an erroneous trade sent the banking giant’s stock down 17 percent, activating the U.S. Securities and Exchange Commission's two-week old circuit breaker.

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