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

Given that there are over two dozen equity exchanges currently, would it be better to have fewer?




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Active ETFs Gain in Canada as Challenge to High-Fee Mutual Funds

– Actively managed exchange-traded funds are surging in Canada, posing a challenge to the mutual-fund industry that has the highest management fees in the world.

Chinese Stocks Rise as Regulators Move to Stem Losses

– Chinese stocks rose after securities regulators relaxed margin-trading rules and cut equity- transaction fees in their latest attempts to prevent the country’s slide into a bear-market from deepening.

India Might Seek to Curb HFT and Algorithmic Trading

– The market regulator for India's equity markets is close to hopping on the anti-high-frequency trading bandwagon and seeking market controls to curb their activity. Regulations could also be in the wings for algorithmic trading as well.

Nasdaq Joins BATS Global in Push for Equity Market Pricing Changes

– Echoing a tune the was sung recently by BATS Global, exchange operator NasdaqOMX is also now publicly advocating for changes to the way equity prices are determined.

Brokers Beware: HFT Firms Have a Way to Cut You Out in Japan

– It took them six years, but high-frequency traders have finally secured a perfect way to lower brokerage costs in Japan: cut out the middlemen.

Greece ETFs Now for Speculative Use Only

– As U.S. investors tear into an exchange- traded fund tied to Greek equities, in Europe they’re going without, at least on public venues.

SEC Proposes Executive-Pay 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 proposed Wednesday by the Securities and Exchange Commission.

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?

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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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