Bill Harts

Modern Markets Shares Minutes from Meeting with Members and Others

Modern Markets Initiative shared with Traders the comings and goings at a recent meeting they had recently conducted with some of its member firms and the staff of a prominent national opinion leader. MMI said that it was surprised at how much basic misinformation about HFT persists and shared the conversation right here.

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The Chinese are taking swift and drastic actions to combat its equity market problems of late. Are these actions good for the market or are they a bad idea?

The actions are a good idea


They are a bad idea


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Latest News

BNY Mellon Tech Issues Continue to Dog Funds

– The glitch's impact is widespread. Prudential, for instance, says 40 of its more than 60 funds were affected. Buys SpeedRoute and Will Control of 2.5% of U.S. Equity Order Flow

– A leading online retailer of consumer retail goods is now entering the equity trading universe - and about to control a portion of the order routing in U.S. equities.

Shenzhen Exchange Still Isn’t Embracing Speed Amid an Overhaul

– Even though China’s Shenzhen Stock Exchange is overhauling its technology for the fifth time in 15 years, it’s still not embracing what modern traders want: real-time prices.

China Doing What Greece Didn’t as Traders Give Up on Europe ETFs

– All through the equity plunge that culminated in a bloodbath on Monday, exchange-traded funds tracking European equities held on to investments. That might be changing now.

Lawsuits Inspired by ‘Flash Boys’ Get Tossed by U.S. Judge

– Michael Lewis may have spelled out the supposed menace of high-frequency trading in his bestseller “Flash Boys.” What he didn’t do is provide a basis for investors to sue stock exchanges or banks.

After Broker Cutbacks and New Regulations, Broker Vote Draws Scrutiny

– The buyside is reviewing its broker vote processes as the sellside has thinned its ranks and spending, along with brokers having to face new regulations.

44 Percent of Buyside is Processing Complex Swaps Manually, Survey Says

– It seems that when it comes to trading and processing derivatives trades such as complex swaps, the buyside favors a manual approach.

How Secure Is the Buyside?

– It was a ploy as brazen as it was ingenious. A team of rogue traders from the U.S. teamed up with clever hackers and traders in Ukraine to break into the servers of major media firms. See how this latest cyber attack could spell trouble for the buyside.

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Highlights from the Current Issue

Bitcoin Never Sleeps: How Pantera Capital's Dan Morehead Trades The Digital Currency

Bitcoin-focused hedge funds must deal with the challenges of long-term investments. And the trading is relentless.

Algo Update: Neonet's Capture Grabs Liquidity Anywhere

The firm’s newest algorithm, dubbed Capture, is the latest addition to its growing stable of software designed to help the buyside source liquidity.

TRADERS ON THE MOVE: Schapiro Joins LSE, Jefferies Gets Low-Touch Head in Europe

In today's Traders On the Move, Texas-based CAPIS hires a senior trader for its fixed income desk, while ex-SEC Chair Mary Shapiro has been elected to the board of the LSE. Also, Jefferies has hired a new head of electronic sales.

Liquidnet and IEX Bring New Algorithmic Routing Strategy

Liquidnet, the equity block trading pool, and IEX, the buyside sponsored ATS that wants to help the buyside avoid predatory traders and find the elusive block trade, have joined together to create a new algorithm.

HKEx to Resume Closing Auction, Impose Temporary Price Limits

Hong Kong Exchanges & Clearing Ltd. will reintroduce a daily auction to set closing stock prices and impose temporary price controls to limit extreme share moves.

KCG Rebrands and Relaunches its Dark Pool

Like a phoenix rising from the ashes of its former self, KCG Holdings has rebranded and relaunched its dark pool website and the pool itself.

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