Buyside firms need to leverage technology to stop writing checks to HFT firms with clients's money.
A large cybertheft against JPMorgan Chase and other big New York banks is said to have started with a break-in on an employees computer at home. It serves as a reminder that big problems can start in small places and that banks need to take more steps to minimize the damage from hacker attacks.
NYSE Group Inc. promoted Paul Adcock, who helped pioneer electronic equity trading in the 1990s, to oversee day-to-day operations of its U.S. stock exchanges, according to people familiar with the matter.
He is suing the company he helped found to void an agreement that restricts him from managing outside investors money until 2018 in order to start his own fund.
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.
Today's traders must manage their emotions in order to reach peak performance.
Instinet Promotes Kellner to CEO
The Second-Term Mandate: A Q&A with Patrick Armstrong
Traders assembled a deep bench of judges to select the top U.S. universities that produce the most impressive candidates each year in the field of trading.
A look at the financial industry's prominent hires, promotions and other notable happenings inside Wall Street's trading community.