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Is Rule 606 hopelessly outdated and broken? RegOne's Weisberger examines the regulation and whether or not it is outdated and fails to require disclosure of the vast majority of all routing.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

BlackRock Agrees to Pay $12 Million Over SEC Conflicts Claims

– BlackRock Inc., the world’s biggest money manager, agreed to pay $12 million to settle U.S. regulatory claims that it failed to disclose a conflict of interest of a top portfolio manager.

Euronext’s Closing Auction Targeted by Upstart Stock Exchange

– A European stock market called Aquis has a new plan to win trades away from one of the biggest exchanges in the region, Euronext NV.

Swiss Franc Antics Threaten Banks’ Grip on Currency Trading

– The grip of the world’s biggest banks on the $5.3-trillion-a-day currency market is under attack.

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."

UBS Exiting U.S. Automated Options Market-Making Business

– UBS is partially pulling out of the U.S. options trading business. According to a recent report by the Wall Street Journal, the Swiss bank is exiting the automated options market making business. However, the firm will continue other aspects of its options trading business.

TRADERS ON THE MOVE: Credit Suisse Hires New Head of Prime; BOX Options Lands CEO

– In today's On the Move, Credit Suisse appointed a new global head of its Prime Services division while BOX Options marketplace brought on two new senior level executives. Also, a pair of sales traders landed at new firms and RJO hired a new pro to start a grains trading desk.

Saudi Bourse to Give Foreigners Access Starting June 15

– Saudi Arabia plans to allow foreigners direct access to its stock market, one of the world’s most restricted, from June 15.

Norway Wealth Fund Wants Utility-Like Dark Pools for Big Trades

– Norway’s $890 billion wealth fund will work to promote the rise of “utility-like” venues to make its biggest trades to avoid front-running and bring down the costs of stock transactions.

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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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