Content posted in April 2013
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Nasdaq OMX Launches ETF Exchange
The market maker has recast one of its three exchanges for the trading of exchange-traded funds. Just in time as it takes on dark pools before the SEC.
And The Buy-Side Trading Technology Advantage Goes To....?
In a world where trading alpha creates a competitive advantage, trading skills and acumen may be king, but trading tools are the great enabler and equalizer.
After the Hash Crash: Worrying About the Next Glitch
After last week's Hash Crash, James Angel of Georgetown University told CNBC he's worried about the next glitch. Circuit breakers are in place, but he's not sure how they will react when the next stress hits.
Finect Launches Network for Financial Industry's Social Media Needs
Enables financial advisors, asset managers and other professionals to create an online presence by using Twitter, LinkedIn and Facebook, while including tools to ensure compliance with the SEC/FINRA's guidelines.
Paladyne Systems Integrates Numerix; Licenses Source Code
Paladyne, a Broadridge Company, has integrated the Numerix Portfolio Risk into its front-office solutions to help its clients help manage risk across asset classes with the addition of Paldyne's reference data.
Differences Between Dark and Lit Trading
Distinguishing between "dark and lit" trading venues in strategy discussions must consider the order size because small trades parsed algorithmically across venues have a different impact on information leakage than block trades.
Cloud Adoption Rapidly Gaining Speed in Financial Services
Many banks no longer want to run, support and maintain technology and prefer the speed and flexibility of cloud solutions.
EBS's Plan to Slow Down HFT in FX Could Influence Other Regulators
The electronic FX platform trading platform has a proposal to reduce the speed advantage of HFT players because the technology arms race has gotten out of hand.
Nasdaq OMX to Re-Launch PSX for Exchange Traded Products
Offers new market maker programs with economic incentives to reward individuals who meet quoting requirements on a per-security basis.
TradingScreen Adds FX Functionality for Dodd Frank Compliance
The firm's EMS now offers midpoint pricing on FX pre-spot, forwards, NDFs and swap deal types, ahead of the regulation's deadline on May 1st.
Fidelity Focuses on Windows 8 With New Trading App
Key features in the app include a U.S. market summary showing quotes for the Dow Jones Industrial Average, NASDAQ Composite Index, Russell 3000 Growth Index.
Industry Inertia Hampers E-Trading
Institutional traders see some value in fixed income electronic trading, but a lack of a regulatory push and the desire to maintain existing business models is causing inertia in the move to electronic trading methods.
CBOE Explains Systems Outage was Due to a Software Bug; Expert Says More Needs to be Done to Prevent Incidents
One software expert said that CBOE's software problem was a sign that exchanges are rushing out software and that the SEC needs to do more with compliance to set a level playing field.
American Century Names New Head of Quantitative Research
American Century names former BlackRock/BGI exec Vinod Chandrashekaran as head of quantitative research.
Bankers Could Soon Face Jail For Reckless Behavior
A UK banking commission is currently debating the proposal, with many in favor of punishing reckless acts with jail time.
CBOE Outage Forces Institutions to Scramble for Alternatives
A systems delay at the CBOE shutdown trading in the big stock index options contracts for three and one-half hours, raising questions about the safety of electronic markets.
Westport Capital Partners Files Form PF via Northpoint
A hedge fund manager focusing on real estate picked Northpoint's Form PF filing services to deal with all operational aspects from data collection to electronic submission.
Where’s The Growth In The Electronic Bond Market?
The U.S. corporate bond market is notable for both its size and growth, but the electronic market isn’t growing as fast as some predicted.
Survey: How Should We Educate the Next Generation Buy Side Trader?
With the faster and more complex electronic markets, what is the future skill set needed for the buy side trader?
Spreadsheet Risk – Should We Ban Excel?
Apparent errors in an influential economic study by two Harvard Professors due to an Excel spreadsheet mistake is another reminder of the operational risks inherent in relying upon formulae hidden in obscure, nestled spreadsheets.
Who Was Really Behind The Twitter Hack That Wiped Out $136 Billion?
While the Syrian Electronic Army claimed responsibility for the attack, the FBI, SEC and CFTC are now investigating the hack.
As Regulators Eye Dark Pools, Canada is in the Spotlight
In Part II of their series, Capco consultants examine Canada’s new rules on dark pools, comparing the similarities and differences in the way that dark pools are regulated in Canada versus the United States.
BlackRock Strikes Alliance with MarketAxess for Corporate Bond Trading, Scraps Plans for ATN
The money manager is partnering with MarketAxess to seamlessly integrate its fixed income trading portal with BlackRock's Alladin system to source liquidity in corporate bonds, while nixing plans for its own buy-side crossing network.
4 Ways To Stop Twitter Hacks That Swing The Markets
The fake AP tweet this week left traders and quants scratching their heads over their vulnerability to breaking news on social media.
Paving the Way for European Regulatory Reform: An Evolution in Electronic Fixed Income
There is no doubt that the regulatory reforms under way will change the way European market participants trade fixed income. Forward-thinking market participants should prepare for requirements relating to clearing, trade reporting, transparency, and regulation of trading venues, and certainly a move towards electronic trading.
Binary Options: The Market's Unsung Hero
Binary options can have a positive impact on a variety of markets, though they might be misunderstood by regulators.
Credit Suisse No Longer Reporting Dark Pool Volumes, Takes Away from Transparency
The largest dark pool's decision to stop reporting its volume statistics most likely relates to concerns that U.S. regulators are targeting off-exchange volumes.
Can Group Finance and Risk Management Get Along?
There is renewed move to integrate finance and risk data at sell-side firms for cash optimization and, equally as important, transparency. So how can you get these two groups to cooperate to achieve a unified view?
Negative Sentiment Create Headwinds for Apple
As Apple's valuation continues to slide, investors wonder if there is an upside for the technology pioneer's stock price.
CQG and Continuum Join Forces With AlgoFast
The AlgoFast platform will be able to integrate market data with its wide range of indicators to power algorithmic execution strategies.
Markit Upgrades Portfolio Valuations Service with VaR and Stress Testing
The data provider added risk and scenario analysis tools to is Portfolio Valuations Service.
Joseph Cangemi Appointed CEO of ConvergEx's UK Broker Dealer
Known for his knowledge of U.S. equity market structure, Cangemi will relocate to London to head ConvergEx’s European operations, while continuing as co-head of electronic equity trading and sales.
ConvergEx Names 30-Year Industry Veteran as CEO of UK Broker-Dealer Unit
Joseph Cangemi, who is a member of SIFMA's Equity Markets and Trading Committee, will head ConvergEx Limited in London.
Bracing for Apple's Earnings Report, Academics React to Stock's Falling Price
Some academics are blaming the irrational exuberance of retail investors combined with the short selling of hedge funds for the decline in Apple Computer's stock price last week.
Amid Conflict of Interest Debate, New SEC Chairman To Appoint Enforcement Lieutenant
The appointment follows the departure of Robert Khuzami, who revamped the division in the wake of the financial crisis with a record number of enforcement cases.
Mandara Capital Deploys Tbrick's Hosted Trading Service
A hedge fund specialist in crude oil and derivatives, Mandara Capital chose Tbrick's futures trading platform, powered by S&P Capital IQ's Quantlink and QuantFeed, to improve speed and to support inhouse development.
State Street's Q1 Revenues Up 1% As FX Trading Volumes Rise
The financial services company cited strength in equity markets, combined with higher volumes in foreign exchange trading, supported by fee revenues.
JP Morgan Forms Electronic Trading Management Committee
The new committee will share best practices in electronic and algorithmic trading across asset classes and make decisions on investments in systems for competitive advantage.
Wells Fargo Slashes Money Manager Programs, Angers Brokers
Meanwhile, the number of investors pulling money out of hedge funds levelled off last month.
Regulators vs HFT Firms Debate: Who Blinks First?
The confusion around high frequency trading and algorithmic trading is not helping the discussion of new regulations.
Infrastructure as a Service: Ignorance is not Bliss
We asked respondents how their firm determines total cost of ownership (TCO) for their current infrastructure. Of the two-thirds who have no capability to determine TCO, my favorite response from them was, "Huh?"
Patent Issued to RealTick EMS for Staging of Electronic Orders
The U.S. patent was issued to Eze Castle Software Group for proprietary technology in RealTick EMS that allows traders to stage electronic orders in a neutral account without committing to a specific broker.
Estimize's Data Licensing Deal with Bloomberg Validates Social Finance
The crowdsourced earnings estimates platform agreed to license its data for display on the respected Bloomberg Professional service, which is a sign that social finance is a growing trend.
Banks Must Focus On IT Employee Engagement, Not Just Compensation
Over 1,000 banking and securities IT staff and managers who responded to the InformationWeek 2013 U.S. IT Salary Survey examining their views on compensation, job satisfaction and other workplace-related trends.
Insider Trading Scandal at KPMG: A Belief in the Weakness of Enforcers
Accounting firms should reinvigorate their training and controls regarding insider information because this is one area where enforcement works.
Bloomberg Files Lawsuit on Swaps Trading, Contesting Margin Rules
Argues that CFTC's rule imposing higher margins on swaps than comparable swap futures, is not based on risk analysis and will harm swap execution facilities..
More Foreign Tech Workers Could Soon Bring Skills To Wall Street
Vocal supporters of the new law include Facebook's Mark Zuckerberg and Cisco's John T Chambers.
Of Frogs, Boiling Water, Market Structure and Trading
The sense that inertia and incrementalism are the only approaches to solving market inertia does not necessarily have to be the case. What may be required is a systemic review of market structure itself.
When Every Penny Counts, Firms Must Operate Smarter Through Deeper Data Analysis
As financial firms go through budgets and expenses with a fine-tooth comb, they need to analyze data in an intelligent way.
Linear Investments Selects TradingScreen's TradePrime
Hedge fund manager Linear Investments picked the multi-asset EMS, integrated with position management and OMS functionality, compliance and risk, all delivered via the cloud.
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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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