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Top Stories 2011: Volume and Volatility - The Comeback Kids
The year began with low volume and little volatility, and then changed rapidly midyear, making 2011 a year of stark contrasts. Usually, the end of July and the month of August are the summer doldrums, when not much happens. This year, it was when everything changed.
Low-Touch Trading Moving Toward High-Touch Service
As high-touch trades continue to decline and trading algorithms get increasingly complicated, buyside firms are turning to the sellside to offer execution consulting that combines high-touch service with low-touch technology. That's according to a new report by Tabb Group, which found that by 2013 the way the sellside services clients will look radically different from today.
Chi-X Tops Leader Board in Europe for First Time
The London-based alternative to the London Stock Exchange Group recorded the most turnover of any trading venue in Europe in August, according to statistics compiled by the Federation of European Securities Exchanges.
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Knight Edges Towards Blind-Risk
Knight Capital Group, which recently expanded its global program trading effort, is eyeing an expansion into the capital commitment game and moving in the direction of the blind-risk business. After launching a global program trading business in April, the next step will be moving out along the risk curve with regard to committing capital, said Jenkins Marshall, a managing director at Knight who co-heads the new division.
Where's The Flow?
Equities trading volume in the first quarter disappointed many industry pros. However, they see several bright spots that could juice volumes the rest of the year. First, the bad news. On March 28, just 5.973 billion shares traded. It was the slowest day in the markets this year. It also wrapped up a quarter that saw a 7 percent drop in volume last year.
Industry Panel Attacks MiFID II
Trading in Europe will get more expensive and difficult if reforms to the Markets in Financial Instruments Directive pass as proposed, according to a panel at a recent industry conference. Panelists on a regulatory session at TradeTech USA said proposed changes to current European regulation-MiFID-will hurt their businesses by raising their costs and making them less competitive.
Cover Story: What's Ahead?
Program trading is in again. Its volumes have been rising. Its technology is becoming more sophisticated. And the buyside is warming to its capabilities, so much so that program trading now represents roughly 15 percent of U.S. equities volume.
Cover Story: Spreading Their Wings
Over the past five years or so, mid-tier trading desks have been reorienting their roles in the market.
Program Trading Tools Need Upgrade
The electronic trading tools for program trading that most brokers and technology vendors offer their clients have not kept up with their single-stock offerings.
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