Commentary

Jim Toes
Traders Magazine Online News

An SEC Chair Like Jay Clayton

In this guest commentary, Jim Toes, president and CEO at the STA, discusses the candidacy of SEC Chairman nominee Jay Clayton and what his unique credentials can mean for the capital markets.

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Latest News

Invesco Set to Launch New ETFs on NEO Exchange

– Aequitas NEO Exchange has announced that Invesco Canada is expanding its presence on the NEO Exchange and has applied to list two new PowerShares ETFs.

Convergex Prime Brokerage Services Added Over $1 Billion In New Client Assets During 2016

– Convergex announced that in 2016, its Prime Brokerage business added new clients with a collective total of over $1 billion in assets.

High-Speed Traders Are Taking Over Bitcoin

– In this Bloomberg report, high-frequency traders have turned their attention to another asset class besides equities - bitcoin.

Markets Media Group to Host 5th Annual Market Choice Awards

– Join Markets Media and Traders Magazine for the 5th Annual Markets Choice Awards in NYC, the premier event for identifying and recognizing the best companies, individuals and innovation in financial markets.

Is OEMS > OMS + EMS?

– Due to tighter IT budgets, compliance mandates and expansion of electronic trading across asset classes, firms may be looking to bring OMS and EMS platforms together - finally.

Aperio Group to Implement Linedata’s Investment Management Trading Solutions

– Linedata snags a new client for its financial management products suite.

Thesys Wins Bid to Build the Consolidated Audit Trail

– And the winner to build the vaunted US market consolidated audit trail is...Thesys Technologies.

ON THE MOVE: Upward Moves Onward; Instinet Nabs Trio for Research Sales and Research

– In this week's On the Move, Jane Street adds a Wall Street pro its ETF research group while Instinet snags a trio of executives for its Research and Research Sales team. Also, see who's moving around at Goldman Sachs and who might be joining the Trump Administration.

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Highlights from the Current Issue

The Market Data Battleground

Once a plain-vanilla add-on to an exchange offering, market data has evolved into a key battleground between market participants, i.e. the consumers of market data, and market operators, the producers of market data.

Options Auctions Vex Market Makers

Some major trends in the options market have been the same for a number of years. Flat volumes. Marketplace fragmentation. A bifurcation of liquidity. But at least one noteworthy development is of a more recent vintage: auctions.

Re-Imagining Reg NMS

When Regulation National Market System was established in 2005, George W. Bush was five months into his second term as U.S. President. A lot has changed in 11 years, both in the world at large and in financial markets. So it stands to reason that Reg NMS, the sweeping ruleset that was aimed at modernizing and strengthening equity market structure, has passed its ‘best by’ date.

Maker-Taker Under the Microscope

In a complex electronic equity marketplace with myriad points of contention, ‘maker-taker’ stands out as especially complex and contentious. But many wonder, is it time for this pricing schema to go the way of the Edsel?

November 8 Looms Large

If it ain't broke, don't fix it. That's the view of many trading professionals regarding the upcoming U.S. presidential election, with "it" referring to the economy and markets.

Spotlight on HFT Dims

High-frequency trading has served as sort of a catch-all, market bogeyman phrase for about the past half-dozen years, or about as long as the methodology has been in the awareness of the general public. But now perhaps that perception is finally changing.

Market Structure Insights

In this contributed piece from Andrew Upward of Weeden & Co., the broker analyzes how regulator have gone on record with some new thoughts about how best execution should be pursued in light of new technologies and practices.

Equity Exchanges Evolve

North American equity exchanges face swirling winds: rapidly advancing technology, evolving market structure, and the arrival of a splashy new competitor.

Shining Light on Dark Pools

So-called dark pools are getting less dark. Well, sort of.

CAT Moves Forward: Slowly

For market participants and operators standing on a shore, the Consolidated Audit Trail is like a distant ship on the horizon. It's moving very slowly - so slow that sometimes movement is imperceptible. And it has been out there on the water for what seems like a very long time. But as hard as it may be to envision, one of these days, the ship will dock, and all its details will be known.

EMSAC Comes of Age

With a half-dozen meetings under its belt, it’s fair to say the 20-month-old Equity Market Structure Advisory Committee has moved beyond the brand-new stage and is doing what it was established to do — act as a consigliere to the U.S. Securities and Exchange Commission on all things pertaining to equity market structure.

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