Bruce Fador

Technology Can't Fully Replace Human Judgement and Intuition

Technology now comprises a big part of today's trading landscape, perhaps most of it. Beyond just automating what used be to manual tasks, technology has encroached well into the "thinking"; parts of a trader's job. The key question for firms is where to draw the line. How much of the human touch should they outsource to machines?

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Latest News

Wall Street Watchdogs Turn to A.I.

– Artificial intelligence programs have beaten chess masters and TV quiz show champions. Next up: stock market cheats.

Smart New Rules for Smart Order Routing?

– Disclosure is the rage in financial markets regulation and the latest set of proposals relate to order handling rules.

Convergex and OptionEyes Join to Assist Traders With Risk and Portfolio Management

– Agency-based broker Convergex announced that it has entered into an agreement granting it an exclusive  license to The OptionEyes, a front-end technology platform that helps active traders manage and trade  positions in an options or equity portfolio.

Raining on Their Parade

– A recent study suggested that rain, sleet and snow have an effect on trading, but as guest columnist Bill Harts says, today's modern markets can weather any storm.

Bundesbank Says High-Frequency Trading Can Enhance Volatility

– High-frequency trading has the potential to both increase market liquidity and remove it at times of higher volatility, a study by the Bundesbank has found.

SEC is Putting the ETF Industry Under the Microscope

– As the exchange traded fund universe continues to expand, the Securities and Exchange Commission is preparing for a meticulous review of the industry in response to concerns that the increased interest in ETFs may have exacerbated market volatility.

TRADING THE WEEK: Focus on Earnings, Election

– Third-quarter profit reports are coming through by the day, and the election is just a fortnight away.

Traders Announces Nov 15 Equities Market Structure Town Hall Forum

– Traders Magazine is proud to announce it is holding its inaugural Equities Market Structure Town Hall Forum event on Tuesday, November 15 in New York City. For more details, please read on...

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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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