Commentary

David Weisberger

Is Rule 606 Broken?

Is Rule 606 hopelessly outdated and broken? RegOne's Weisberger examines the regulation and whether or not it is outdated and fails to require disclosure of the vast majority of all routing.

Traders Poll

Is Rule 606 busted? Should It be fixed or scrapped altogether?



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Latest News

Bloomberg Says Terminals Up and Running But Questions Remain

– Are buyside traders too reliant on a single market data, messaging, and trading network?

Twitter Pounces In Wake of Bloomberg Terminal Outage

– Brokers, traders and industry observers wasted no time in criticizing the IT and market data giant for its technical mishap.

Virtu’s Shareholders Said to Include Industry Critic T. Rowe

– T. Rowe Price Group Inc., one of the biggest critics of modern trading practices, now finds itself in a seemingly surprising spot: It acquired shares of Virtu Financial Inc.

BATS Hires NYSE Alumni Morrison to Spearhead ETF Effort

– BATS Global Markets just beefed up its exchange trade funds (ETF) business, luring an NYSE executive to join its business.

U.K. Debt Agency Postpones Bill Auction After Bloomberg Outage

– The U.K. Debt Management Office postponed a 3 billion-pound ($4.5 billion) sale of bills after an outage affected Bloomberg LP, the operator of a debt-auction system.

Citadel’s Kaufman Resigns, Said to Lose $1 Billion in 2014

– Derek Kaufman, global head of fixed income at Citadel LLC, is leaving the hedge fund firm after losing $1 billion last year in a variety of trades, according to a person familiar with the matter.

Brokers Selling IRAs Face Tougher Rules in Obama-Backed Plan

– Brokers and insurance agents providing retirement-savings advice would have to put clients’ interests ahead of their own under an Obama administration plan that will face stiff opposition from Wall Street and Republican lawmakers.

Virtu Raises $314 Million in First IPO of High-Speed Trader

– Virtu Financial Inc. raised $314 million in its initial public offering, after the high-frequency trader’s shares were priced at the top of the marketed range.

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Highlights from the Current Issue

The FX Disruptors: Why Russell Investments Built a Buyside FX Platform

After the foreign exchange rate manipulation scandal, Russell Investments envisions buyside firms banding together to trade FX among themselves. Michael DuCharme and Joe Hoffman are leading the charge.

Tales from the Dark Side Part 2: A-B-C or Always Be Crossing

Let’s review dark pools’ baseline functionality and examine the good and bad of anti-gaming filters. Then we’ll discuss simple guidelines that help refine your dark routing choices.

ALGO UPDATE: Algo Teaches Old Traders New Tricks

Euclidean Trading is delivering a trading formula for dollar interest rates in the hope that human options traders will go electronic.

SEC Delays Tick Size Pilot Until May 6

The Securities and Exchange Commission has decided to delay the implementation of its new tick size pilot program until May 6.

The Grand Bargain, or Grand Theft Auto?

With ICE's Grand Bargain proposal, it’s hard not to see the benefit to the legacy exchanges.

STANY President Lugay Looks at Challenges Ahead

Traders speaks Chuck Lugay about his take on the market, what new regulations might look like, and what keeps traders and brokers up at night.

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