Commentary

Fernando Luiz de Oliveira

Are Dark Pools Good or Bad for the Average Day Trader?

In this guest commentary, one day trader writes that dark pools can help the retail trader in the same way it does the institutional buyside trader.

Traders Poll

Does the posting of an ATS' Form ATS by an operator satisfy your needs for dark pool transparency?



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Latest News

Alibaba IPO Debuts On NYSE Without a Hitch, Nasdaq Blinks

– Nasdaq posted an erroneous $150 per share for the Chinese firm but immediately scrubbed the price for a second official trade at $90.04.

R.J. O'Brien Appoints Goodhew as Head of Global Markets in U.K.

– Independent futures brokerage and clearing firm RJ O'Brien, based in the United States, announced the appointment of industry veteran Paul Goodhew as a senior vice president and head of global markets at its London-based affiliate.

PDQ ATS Posts Its Form ATS on Web

– PDQ Enterprises, operator of PDQ ATS announced that its Form ATS is now available for direct download on the company website.

Independence-Minded Scots Spur Signs of Life in Currency Trading

– Secession-minded Scots and diverging interest-rate outlooks have benefited at least one part of financial markets. They have eased the recent drought in currency trading with some platforms witnessing record volumes.

NYSE’s Bell-Ringing an Earful for Nasdaq With Alibaba Record IPO

– When Alibaba rings the opening bell at the NYSE today, as planned, it will mark the biggest win yet in the exchange’s years-long campaign to lure initial offerings of technology and Internet companies. Once a bastion for industrial companies, NYSE last year beat rival Nasdaq OMX Group Inc. in technology listings for the first time, a trend continuing this year, according to data compiled by Bloomberg.

Is NYSE Ready for Tomorrow’s Alibaba IPO?

– After embarrassing technology flame-outs at major exchanges, the New York Stock Exchange is assuring investors that it is ready for the Chinese e-commerce debut.

Citi Launches Total Touch Equities Trading Offering in Europe

– Just like in the U.S., Citi is launching Total Touch, its block equities offering designed to make it more efficient for institutional investors to execute block trades in the European market.

Dark Pools Face Up to More Transparent Future as Threats Mount

– Whether they like it or not, banks are opening up their dark pools, the private venues that host 17 percent of trading in the $24 trillion U.S. stock market.

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Highlights from the Current Issue

Hedge Funds Ready For Quant Battle

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.

FINRA Charges Wedbush Securities for Market Access Violations, Supervisory Deficiencies

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.

TABB Group CEO Writes Levin, Disagrees on Ban of Payment for Order Flow

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.

In the CARDS - Is Finra's Data System Protecting Brokers or Investors?

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?"

TRADERS ON THE MOVE: ConvergEx Hires a Trio of Pros; Farrington Flies With Eagle

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.

Reputational Risk RIP

Today, a $5 billion fine is the cost of doing business. How can any Wall Street firm take risk seriously?

BOOK REVIEW: 'Flash Boys' Burns HFT

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.

The Long Compliance Race

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.

CLEARING: CME's Sprague Warns About Failure to Settle Clearing Impasse

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.

HFT Hype Should Give Way to Serious Market Discussion, Experts Say

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.

ALGO UPDATE: Neonet Readies Algos for Europe; U.S. to Follow

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.

Watch the Fiscal Rocks

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.

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