Davis Polk's Annette Nazareth and Jeffrey Dinwoodie review Reg SCI, its implications, costs and how the rulemaking may be an interesting window into the SEC's future steps in market structure.
September 30, 2014 – TMX Group Ltd., operator of the Toronto Stock Exchange, hired Lou Eccleston as chief executive officer, starting on Nov. 3.
September 30, 2014 – International Securities Exchange Holdings Inc. applied to create its third U.S. options exchange.
September 30, 2014 – U.S. equity options exchanges agreed to a set of rules in an effort to avoid market mishaps.
September 29, 2014 – In a move designed to address potential conflicts of interest and clarify an opaque policy on employee ownership of stock, Goldman Sachs is making a move to protect its employees and itself.
September 29, 2014 – Arrow Funds is offering clients a new exchange traded fund, the Arrow DWA Tactical ETF on Nasdaq.
September 29, 2014 – In today's On the Move, several high profile executives have departed their firms, one executive is retiring from Nasdaq after 30 years. Also, one one hedge fund hires a former bugle bracket exec as it beefs up its securities business.
September 29, 2014 – The departure of the second-biggest money manager from billionaire Michael Platts BlueCrest Capital Management LLP is another sign of upheaval for the $27.1 billion firm.
September 29, 2014 – South Korea will double the daily trading range of shares next year as the country seeks to increase the appeal of its $1.3 trillion equities market.
Highlights from the Current Issue
BattleFin co-founder Tim Harrington and his team not only run a hedge fund, they sponsor a series of trading tournaments where the best big data strategies win.
The Financial Industry Regulatory Authority (FINRA) announced Monday that it has filed a complaint against Los Angeles-based Wedbush Securities Inc. for systemic supervisory and anti-money laundering (AML) violations in connection with providing direct market access and sponsored access to broker-dealers and non-registered market participants.
Larry Tabb, founder of TABB Group responded to U.S. Senator Carl Levin, chairman of the Permanent Subcommittee on Investigations, disagreeing with conclusions Levin shared in his July 15th letter to SEC Chair Mary Jo White, asking that she ban payment for order flow.
Guest columnist Robert Stowksy reviews how FINRA's use of broker data to protect investors is under attack and asks the question, "Are they protecting investors or covering for bad brokers?"
Agency-only broker and technology firm ConvergEx has hired a trio of market professionals to help it expand it's global reach while Eagle Investment Systems brought on Greg Farrington as it new head of sales. Bulge bracket broker UBS has hired Pierre Vermaak for its newly formed FRC team.
Today, a $5 billion fine is the cost of doing business. How can any Wall Street firm take risk seriously?
Traders' reviews the controversial Michael Lewis tome 'Flash Boys' and how it has changed the way Americans think about high-frequency trading "if they even thought about it all" and its impact that may be seen in new regulations.
In an industry dominated by speed, where short-term success is dependent on decisions made faster than the blink of an eye, guest commentator Mark Knoll said that getting traders to focus on the long-term impact of regulatory changes is like trying to get a world class sprinter to think like a marathon runner.
Traders spoke to Suzanne Sprague, executive director of collateral and risk for CME Clearing about the impasse, how to resolve it, and what it means for the clearing market.
With the immediate furor over Michael Lewis's book, Flash Boys, finally dying down, many market players are hoping the receding hype gives way to a discussion of the real problems and possible solutions to some of the issues the book brought up - namely market structure.
Swedish agency-broker Neonet has a simple business strategy offer its algorithms and electronic trading solutions first to its native European equity trading clients, and then cross the Atlantic and enter the U.S. equity markets.
Modern Network's Tim Quast discusses Michael Lewis's cage-rattling bestseller about high-speed trading, "Flash Boys," and how it left one thing out. Quast notes Lewis didn't say why exchanges pay fast traders. The answer spotlights the importance of getting right whatever corrective market-structure measures may come.