The line between exchange trading and off-exchange trading has blurred to the point where there really isnt that big a distinction anymore.
May 24, 2013 – Independent broker-dealer National Alliance has added three sales traders, bulking up its recently created equities trading desk.
May 24, 2013 – Bank of America Merrill Lynch hired Goldman Sachs-bred Tracy Caliendo to help further build its hedge fund business.She joins the bulge firm as a managing director and head of Americas Equity Hedge Fund Services. Based in New York, she will join the firm in September.
May 23, 2013 – Direct Access Partners has shut down. The institutional brokerage stopped handling orders two days ago, sources tell Traders Magazine, after its clearing firm, Goldman Sachs, stopped clearing its trades.
May 23, 2013 – Wholesaler Citadel must believe that things are looking up in the trading industry. It has hired four new market makers on its Over the Counter trading desk and a broker-dealer sales exec, further bulking up the firm's trading business.
May 23, 2013 – FINRA reached an agreement with Direct Edge to monitor its two stock exchanges, EDGX and EDGA, for trading abuses. The deal gives FINRA oversight of 90 percent of volume.
May 1, 2013 – Here are this month's Editor's Picks for the best and most newsworthy stories covered by Traders Magazine online news. These stories appear in abbreviated form. To read full length items, please visit our wesbite at www.tradersmagazine.com.
March 2, 2012 – Commissioner Scott O'Malia of the Commodity Futures Trading Commission (CFTC) is on a mission. He says the process of writing new over-the-counter derivative contract rules needs more transparency. Over the past year he has repeatedly called for more roundtables and public comment on how rules are written. Why is this important? Because these rules, among other things, will determine which OTC derivative contracts must go through a clearing process and which ones can continue to use the old bilateral, dealer-to-dealer model.
Rules and Regs
April 1, 2013 – After a rocky few years of flash crashes, trading glitches and botched IPOs, the Securities and Exchange Commission may finally be making headway in its battle with the streaming reams of disparate and diffused electronic data that define the modern U.S. securities trading markets.