Table of Contents

Four of the six charges against former NYSE chairman Richard Grasso have been overturned regarding his $187.5 million compensation package. The final outcome?

Grasso will settle the case
NY State will not pursue the case
Grasso lost his reputation, regardless
Not Spitzer's worst decision but up there

Previous Polls

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Algos/DMA Department

Industry News

Volatility Dictates New Algo Trading Strategies, Report Says

Volatile market conditions mean buyside traders must take a hard look at their brokers’ algorithmic trading practices. That’s the message from Deutsche Bank Securities in a just-released paper analyzing the effects of the recent bout of high volatility on key trading metrics.

New Survey Highlights Differences Between Buyside and Sellside in Europe

When it comes to electronic trading in Europe, the buyside and the sellside don't always see eye to eye.

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Articles from Traders Magazine

Can New Smart Router End Pinging?

Smart Trade, a French vendor of order management technology, has introduced a smart order router that eliminates pinging. Called LiquidityOrchestrator, the router takes incoming orders, combines them with market information, instructions and predefined rules, and generates an infinite number of trading commands.

4th Story Builds Technology That Builds Algos

Sellside firms looking to buy the technology to build their own algorithm infrastructure have a new best friend. Software vendor 4th Story designed its 4S.Blue Ridge algorithmic trading server to let brokerages build their own infrastructure to offer their customers algos.

Fidessa's Algos Go Short-Term

Order management system vendor Fidessa has augmented its collection of BlueBox algorithms with a handful of short-term trading strategies. In designing its newest algos, the trading software vendor talked to traders and gauged their needs. In one case, they noticed how traders were sometimes performing repetitive manual actions that could be done automatically, said Matthew Rowley, Fidessa's vice president and global product manager for BlueBox.

It's Gray Out There

Gray is the new black. Dark liquidity is going gray and the industry is mixed about whether this development is good or bad for investors and the marketplace. Many non-displayed alternative trading systems, a.k.a. dark pools, are expanding their reach. They're no longer as dark or as passive as they initially were. That means orders that enter their pools don't simply cross against other orders resting there or passing through, such as a broker's algorithmic flow. Some pools are getting more aggressive. They're willing

JPMorgan's Carl Carrie Discusses ...

Carl Carrie is global head of JP Morgan's algorithmic products and Neovest, its execution management system subsidiary. He offered his views on the state of the art in algorithmic trading. On the growing sophistication of algorithms Traders today want more sophisticated and customizable algorithms-they now expect to be able to control how an algorithm responds intraday to price momentum, correlated sectors, the broad market, complex price-volume patterns or even news.

AlgoServer Expands Buyside's Horizon

Buyside traders seeking more power and control over their algorithm generation and trading strategies have a new helper. Spooz Inc. introduced a new tool, AlgoServer, to accompany its middleware platform for developing and launching algo trading systems, called SpoozToolz. AlgoServer, an application that resides on a server, lets buyside traders create algos on the fly, according to Darryl Dennis, Spooz's chief marketing officer.