Commentary

Dr. John Bates

Post Flash Crash, Regulators Still Use Bicycles To Catch Ferraris

Blaming the Flash Crash on a UK man who lives with his parents is like blaming lightning for starting a fire.

Traders Poll

Will accused high-frequency trader Navinder Sarao be extradited to the U.S. to face charges related to the May 2010 Flash Crash.




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Latest News

CME Suspends Traders for Alleged Sarao-Like Manipulation

– CME Group Inc. said it suspended two traders for placing manipulative trades, similar to the ones that got Navinder Singh Sarao into headlines around the world last week.

GFI Launches Low Touch Corporate Odd Lot Trading System

– GFI Group has announced a new electronic trading platform for odd lot corporate bonds in the U.S. Historically, odd lots have been traded via telephone and voice brokering.

Chi-X Canada Gets OK for New Market-on-Close Order Type

– Chi-X Canada, a rival trading system toTMX, has announced it has received regulatory for a Market-On-Close order type.

Cantor Fitzgerald Sued by Former Head of Investment Banking

– Steven Kantor, Cantor Fitzgerald LP’s former head of investment banking, sued the bond brokerage in a contract dispute, according to Delaware court filings.

Spoofing Elephant in Room Goes Unmentioned During CME Call

– For 10 days, it’s been the top story in the world for the futures market. You’d never know it from Thursday’s quarterly earnings call for CME Group Inc., operator of the market where it happened.

Finra Signals Controversial Broker Data System May Be Unneeded

– Wall Street’s self-regulator is weighing whether to drop a plan for a trade-surveillance system that has drawn sharp opposition from the brokers that fund the agency.

BlackRock Adopts Thomson Reuters Org ID Managed Service

– The hedge fund giant’s use of Org ID will complement its Counterparty Due Diligence process.

Dangers From Trading Algorithms Flagged by Global Regulators

– The computer algorithms that dominate trading in global markets need stronger oversight, according to a group of prominent financial regulators from around the world.

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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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