Commentary

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.

Traders Poll

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

43%

They are a bad idea

57%

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Regulation Channel

News

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.

Asian Stocks Rise After China Cuts Rates, Reserve Requirements

Asian stocks rose, with Japanese shares rebounding from the biggest two-day plunge since 2011, as investors awaited the opening of mainland Chinese markets following Tuesday’s cut in interest rates.

IEX Says Reporting Transaction Sizes in Bunched Fashion In Contrast to Rule 603

IEX, the buyside-sponsored trading alternative trading venue, has filed a comment letter with the Securities and Exchange Commission against recent proposed changes to the way prices and transaction sizes are reported to the Consolidated Tape Association.

Articles

Demystifying Dodd-Frank

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.

In the CARDS

FINRA's use of broker data to protect investors is under attack: Are they protecting investors or covering for bad brokers?

Structural Changes in Canada

More change is coming to the equity trading markets of the Great White North.

SEC Approves BATS Merger

It's all but official now - BATS Global Markets and Direct Edge Holdings will become a unified company.

Buyside Welcomes FINRA Query

Institutional investors welcome the equities market regulator's probe on broker-dealer order routing methodology.

Beware of New Rules

Understanding the likely form of new rules-like Regulation SCI - is essential for traders and investment firms so they can prepare for their inevitable implementation.

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