Content posted in June 2010
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SEC Charges Pair Touting Penny Stocks With Scalping
The U.S. Securities and Exchange Commission said today that it charged a Canadian couple with fraud for making a profit by touting penny stocks they were also selling selling, a practice known as scalping.
Vestmark To Enhance SteelPath's Managed Account Platform
Vestmark will provide SteelPath with solutions to automate many of the labor-intensive processes associated with managed account trading and administration.
Penson Financial Services Taps Conybear as Director Of Operations
Conybear will head up operations for Penson's clearing, settlement and execution services subsidiary in London.
Market Data Message Rates Hit New Record
The Exegy Ticker Plant driving the MarketDataPeaks.com web site hit over 3.2 million messages per second on June 29th, surpassing 2.8 million mps reached during the May 6th flash crash.
CovergeEx Upgrades Global Algorithm IQx
CovergEx Group has upgraded its short duration global algorithm IQx to include the automated trading of small orders and enhanced market intelligence featuring volume and price prediction engines.
Liquidnet Won Second U.S. Patent on Trading System; ITG Dismissed Counterclaim
In April, ITG voluntarily dismissed its counterclaim against Liquidnet for tortious interference with prospective business relations, according to Liquidnet.
FCStone Partners With Integral to Launch Comprehensive FX Platform
A feature of FCStone's FX platform is the ability for customers to see a complete list of market makers with their associated price streams.
New Pecking Order in Derivatives?
Exchanges and clearinghouses could win big under the new derivatives regs, but large banks and brokers that own FCMs will play a role in the pecking order.
Bulltick Capital Joins Fidessa Connectivity Network in Latin America
Top dealer in ADRs will use Fidessa's network to provide trade and execution services in Latin American region.
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.
FlexTrade Debuts Cross-Currency Spread Platform FlexSpread
FlexTrade Systems Inc., a broker-neutral multi-asset algorithmic trading system provider, has launched FlexSpread, a cross-currency spread platform aimed at allowing traders to make deals among multiple securities in different currencies.
Wall Street Boosts Analytics Spending With Eye On Better Risk Management: Survey
Wall Street firms are expected to ramp up spending on analytics over the next year with an eye on better risk management and compliance, according to a survey conducted by IBM and the Securities Industry and Financial Markets Association.
Alphacet and Knight Capital Integrate Workflow for Pairs Trading
Allows hedge funds to create, test and deploy large algorithmic pairs trading strategies.
FFastfill Selects Corvil For Latency Management Of Trading Infrastructure
FFastfill is deploying CorvilNet to pro-actively manage latency for exchange and client connectivity.
FINRA Hits Broker Phoenix Derivatives Group With $3 Million Fine
The Financial Industry Regulatory authority hit Phoenix Derivatives Group with a $3 million fine over improper communications about customers’ proposed brokerage rate reductions in the wholesale credit default swap market.
TGIF: Apple Offers iPhone 4G Advice: Don't Hold The Phone 'That Way'
Here is a video showing you what happens when you hold the phone...
Simple IT Restructuring Has Failed To Provide Cost Benefits
CIOs are now looking to reposition IT as a hub of innovation, driver of enterprise-wide collaboration and provider of more sophisticated, brand-differentiating technology products and services, according to PriceWaterhouseCoopers.
SIFMA Comments On End of House-Senate Conference on Financial Reform
SIFMA President cites key provisions, including systemic risk regulator, resolution authority and fiduciary standard for retail investors, but warns of "profound effect" on cost structure of financial services firms.
Chi-Tech Brings European Trading Network MarketPrizm To North America
Chi-Tech, a subsidiary of Chi-X Global Inc., said today that it expanded its European trading network and infrastructure service MarketPrizm to North American firms.
GoldenSource Launches Data Warehouse
By linking data elements relating to the same object, the data warehouse will create an enterprise-wide view of risk, performance and compliance for clients.
Broadridge Offers New Connectivity to Swift's Accord for Securities Matching
Prime brokers and executing brokers use Swift Accord for matching of equity and fixed income trades from global hedge fund community.
Broadridge Announces New Connectivity Service To SWIFT's Accord For Securities Matching Service
SWIFT Accord for Securities is used by prime brokers and executing brokers to match equity and fixed income trades executed by the global hedge fund community.
SIFMA's Most Popular Booth
Rarely, if ever, has SIFMA seen such excitement. As Lance Donovan scored the winning goal for Team USA's World Cup match against Algeria, a loud cheer echoed around the show floor.
Activ Enlists Hibernia Atlantic For Low Latency Connection
Activ Financial said today that it selected trans-Atlantic bandwidth provider Hibernia Atlantic to develop a low latency connection between the Frankfurt and Chicago markets.
Exclusive: IBM’s Steve Mills Says Financial Services Focus Has Returned to Growth
Steve Mills, the head of IBM’s Software Group, sees much more optimism in the industry and discusses the future of cloud computing in financial services.
J.P. Morgan Named Custodian for Nasdaq OMX Derivatives Markets
J.P. Morgan to provide collateral management agency services for
the cash and securities that firms use to collateralize derivatives transactions.
Jefferies and Instinet Select OneMarketData
Firms leverage an integrated platform for tick data, analytics and complex event processing without requiring disparate systems.
CDW New Team Focuses On Low Latency, Trading Desk Efficiency
CDW’s high performance computing offerings include InfiniBand architecture, 10 gigabit Ethernet switching, solid state memory, high availability/high volume storage, high performance servers and power management systems.
The Possible Long-Term Benefits of High-Frequency Trading
Despite the controversy surrounding high-frequency trading, the trading style actually is beneficial to long-term investors and to the market at large, argues Arzhang Kamarei, Managing Partner, Tradeworx.
High-Speed Trading Not To Blame For May 6 Crash – Kudlow
High-frequency traders were not to blame for the epic May 6 stock market crash and regulators shouldn’t hamper their ability to bring liquidity to the marketplace, CNBC’s Larry Kudlow said during a presentation at the annual SIFMA Financial Services Technology Expo.
Nasdaq In On-Demand Tick Data Venture With Xignite
Nasdaq OMX Group said today that it chose cloud services provider Xignite to build an on-demand data platform which enables users to access large quantities of detailed historical trade and quote data for all U.S.-listed securities.
StreamBase and Solace Systems Partner for Low Latency Trading Solutions
Combined products provide CEP and middleware routing products that can receive, filter and analyze market data.
Sophis Launches VALUE As Hosted Solution
Selects Options IT to power the new offering within its Options PIPE Momentum managed hosting service.
First Wilshire Securities Management Went Live With INDATA iPM
Utilizes the platform for its portfolio management, trading and compliance needs.
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.
BBVA Deploys Progress Apama’s FX Aggregation Calculator
Banco Bilbao Vizcaya Argentaria’s FX traders are now using the Progress Apama FX aggregation calculator for foreign exchange dealings in a move the firm said is aimed at expanding its client base.
Voltaire Launches New Low-Latency Layer 2/3 Switch For Next Generation Data Centers and Cloud Computing
The switch supports converged enhanced Ethernet (CEE) capabilities enabling the consolidation of multiple network tiers and fabrics, significantly reducing infrastructure expenses, according to the vendor.
Mapleridge Capital Choses OneMarketData's CEP Engine
Integrates real-time and historical market data to support quantitative strategy development.
Tradar Unveils Insight 4.0
New version includes order routing via FIX to execution platforms as well as compliance functionality.
TMX Group Builds New Co-Location Facility
TMX Group said today that it finished the construction of a new co-location facility and will start giving users high-speed access to the Toronto Stock Exchange trading engine and market data feeds starting next week.
Executive Q&A: NYSE's Steve Rubinow Discusses Competing on Education
NYSE Euronext EVP and Co-CIO Steve Rubinow says that even though the exchange has a hard time competing for tech talent on Wall Street, the state of technology innovation in the U.S. is just fine.
Xignite Expands Market Data Cloud
Financial information provider Xignite Inc. said today that its market data cloud is now offering real-time information from six new securities exchanges across three continents.
NYSE And Corvil Launch Website Dedicated To Latency Transparency Across Exchanges And Market Data
The site, LatencyStats.com, was created to serve as a basis for best practices in latency transparency, and is a free online tool that allows market data publishers and users to compare latency performance on a like-for-like basis as verified by Corvil.
FIA Principal Traders Group Hires Overdahl As Spokeman
An arm of the Futures Industry Association, taps Overdahl, former chief economist with SEC and CFTC, to articulate the role of principal traders to policy makers and the public.
Savvis Finalizes $121 Million Deal to Buy Fusepoint
IT services and cloud infrastructure provider Savvis Inc. completed its $121 million deal to buy the Canadian co-location services company Fusepoint.
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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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