Commentary

David Weisberger

Does Exchange Fragmentation Really Hurt the Equity Market?

In today's commentary, RegOne's David Weisberger looks back at the "good old days" when there were two exchanges. He said this setup was not necessarily that good and, despite the fear of the unknown, technology and venue competition generally lead to progress.

Traders Poll

Is the approved SEC Tick Size Pilot Program meet your expectations for what it should be?

Yes

20%

No

20%

It was a good compromise

20%

The SEC should start over

40%

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Latest News

Traders On The Move: Who was Hired and Promoted in June 2015

– Who are the new faces and job title inside BTIG, Deutsche Bank, Canter Fitzgerald, and the Financial Services Roundtable?

Goldman Sachs Pays Fine for Roiling Options Market in 2013

– Goldman Sachs Group Inc. agreed to pay a $7 million fine to settle regulatory claims that it sent thousands of mistaken orders that roiled the U.S. options market almost two years ago.

SEC to Propose Executive-Bonus Clawbacks When Companies Restate

– U.S. companies forced to correct accounting failures would have to reclaim a portion of bonuses awarded to corporate bosses under a rule set to be proposed Wednesday by the Securities and Exchange Commission.

Nasdaq Wants to Tell You What’s Working, What Isn’t in Markets

– Nasdaq OMX Group Inc. has some opinions about what’s working and what isn’t in financial markets, and it wants you to know about it.

FINRA Sends Rebates to Brokers after Record Profits

– While commissions growth has been fairly stagnant over the last few years, Wall Street brokers' efforts to cut costs have yielded record profits. And now they are getting a refund of sorts.

Fidessa Launches New Next-Gen DMA Platform

– Fidessa is bringing the equity market traders a new hyper-fast direct market access system.

U.S. Bitcoin Exchange Operator Kraken Enters Canada

– Canadian traders who want to buy and/or sell the cyber currency bitcoin can now do so via a new American operator. And they can even pay for trades with it, should they choose.

It's a Bull Market for Speed Trader Virtu as Greece Roils Stocks

– High frequency firm Virtu Financial is thriving in the current volatile trading markets - whether its Greece-inflicted volatility or simplyposting solid earnings - the firm is on fire.

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Highlights from the Current Issue

Deutsche Asset & Wealth Management's Mike Bellaro Overhauled His Trading Desk. Here's How.

Bellaro's mission was clear - update his trading desk, deploy new technology and beat the competition. Traders gets an inside look at just how he did this and how it might help make DB bigger than Goldman Sachs.

An Inside Look at Luminex, the ATS Built By the Buyside

With Luminex, a collection of elite asset managers is creating a new buyside trading venue that is not-for-profit.

Celebs Hit the BTIG Trading Floor For Charity

Global brokerage firm BTIG raised more than $5 million for its Commissions from Charity Day 2015 thanks to Kristin Davis, Eli Manning, Hannah Storm, Lawrence Taylor, and other celebs.

After 45 years on Wall Street, Bank of America’s Sylvia Rocco Retires

Bank of America Merrill Lynch's senior trader and managing director Sylvia Rocco has finally decided, after more than four decades on the trading desk and floor, to leave the firm and the only job she has ever known.

Dark Pool Dilemma - Aggregation Aggravation

In this final "Tales from the Dark Side," Greenwich's Craig Viani examines how venue proliferation has driven the need for algo aggregation, and brought to light the challenges in accessing non-displayed liquidity via an intermediary.

SEC Set to Begin Debate on Order Protection Rule on May 13

The first meeting of the Securities and Exchange Commission's newly formed equity market structure committee, set for next month, will focus on the so-called "order protection rule."

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