This paper by Fidessa's Steve Grob looks at high and low touch trading in capital markets and how they are morphing to meet the practical realities of participants today.
Are you ready, financially or otherwise, for the upcoming slew of new regulations and mandates given by the market regulators
- Could use more time
- Could use more money
September 29, 2016 – In a Traders Magazine exclusive, Charles Susi, co-head institutional equities and Brian Bulthuis, head of quantitative research client execution services at KCG, took a few moments to speak about how the firm altered its trading technology ahead of next weeks start of the Tick Pilot Program.
September 29, 2016 – So what do the heads of the sell-side really think about trading? What are their concerns? Worldwide Business Research has put out a report titled Views from Leading Equities Traders, which focuses on identifying the key challenges, opportunities and industry trends related to equity trading and technology in North America.
September 28, 2016 – In a move designed to help buy side traders find liquidity for their single- and multi-leg options orders, Wolverine Execution Services (WEX) has modified its Sweep X and Spread algorithms to now look out for hidden orders on options exchanges.
September 28, 2016 – In this Bloomberg Tradebook blog, the authors argue that dark pools have diverged from their original intent with different pools benefiting different types of traders; some pools are better for large blocks that may take longer to get done, while others o?er a substantial amount of readily available liquidity.
September 27, 2016 – In this week's On the Move, several agency brokers have hired senior level sales traders across multiple asset classes while one bulge firm loses a key pro in its equity department.
September 27, 2016 – CBOE Holdings agreed to buy Bats Global Markets, in a move that combines one exchange operator known for its product development with another that's known for its technology.
September 27, 2016 – In this contributed article, guest commentator Nick Savona discusses the merits of developing an auction model marketplace where relationships between the buy- and sell-side are rebuilt and achieve a common goal - best execution.
September 26, 2016 – Equity trading in the private venues has risen to a 6 year high in August, according to data compiled by TABB Forum.
Highlights from the Current Issue
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.
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.
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.
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?
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.
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.
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.
North American equity exchanges face swirling winds: rapidly advancing technology, evolving market structure, and the arrival of a splashy new competitor.
So-called dark pools are getting less dark. Well, sort of.
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.
With a half-dozen meetings under its belt, its 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.