The mispriced transactions totaled 442,600, from October 2008 through the start of this year. The amount owed customers for the mistakes was $420,360. Less than a buck a trade. On a 200-share trade, that equals less than 3 cents each.
May 17, 2013 – Heres the take of James J. Angel, capital markets professor at Georgetown University, now on loan to the Wharton School, on what Regulation Systems Compliance and Integrity will mean to exchanges, alternative trading systems and other market participants.
May 16, 2013 – Institutional broker BTIG celebrated its annual commissions for charities day this Tuesday by raising about $4 million for various charities.
May 16, 2013 – The head of U.S. equity trading for Credit Suisse, Dan Mathisson, said Wednesday a potential solution for increasing complexity of trading on exchanges is to create a handful of universal order types.
May 15, 2013 – Nasdaq OMX Group said it does not intend to submit a bid to build the audit trail of stock and options data being mandated by the SEC. FINRA, which operates the existing Order Audit Trail System, said it will.
May 15, 2013 – In a move intended to reduce quote traffic and the exchange operators administrative burden, NYSE Euronext is proposing to cut significantly the number of options subject to penny trading and to end the so-called Penny Pilot program.
May 1, 2013 – Here are this month's Editor's Picks for the best and most newsworthy stories covered by Traders Magazine online news. These stories appear in abbreviated form. To read full length items, please visit our wesbite at www.tradersmagazine.com.
March 2, 2012 – Commissioner Scott O'Malia of the Commodity Futures Trading Commission (CFTC) is on a mission. He says the process of writing new over-the-counter derivative contract rules needs more transparency. Over the past year he has repeatedly called for more roundtables and public comment on how rules are written. Why is this important? Because these rules, among other things, will determine which OTC derivative contracts must go through a clearing process and which ones can continue to use the old bilateral, dealer-to-dealer model.
Rules and Regs
April 1, 2013 – After a rocky few years of flash crashes, trading glitches and botched IPOs, the Securities and Exchange Commission may finally be making headway in its battle with the streaming reams of disparate and diffused electronic data that define the modern U.S. securities trading markets.