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Commentary: Fasten Your Seatbelt

Read columnist Dan Mathisson's take on the speed debate in trading.

Tradebot's Cummings Says Large Trader Rule Ill Conceived

In response to the recent Traders Magazine article "HFTs Give Thumbs Up to Proposal," Tradebot Systems' Dave Cummings shared his thoughts on why the Large Trader rule proposal is a bad idea.

Part II: Q&A with Tradebot's Dave Cummings

Read the second installment of Traders Magazine's sitdown with veteran high-frequency trader and exchange entrepreneur Dave Cummings.

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Freshen Up That Quote

I recently sent an email to a friend--a retired trader. The email contained a photo from 1968 of an institutional block trading desk. The desk revealed an adding machine and a bank of phones, but no screens. I, of course, got a kick out of that. My friend responded that even a few years later, when he started trading, he'd have to travel a few doors down just to access a quote machine.

This Year's Model

Limit orders just sitting there, going unexecuted. It's the same old story. It happened during the heyday of the Nasdaq dealer market. It happened on the floor of the fabled NYSE, during the auction process. And it's still happening in today's sophisticated, hyper-speed market. The time, place and methods of trading may change, but the results are the same.

HFT Is A-OK, Industry Says

In its Concept Release, dated Jan. 13, the SEC asked the industry and the general public for their views on the activities of high-frequency traders.

Rockin' Around in NYC

The New York Stock Exchange floor was rocking. It was a party. Besides the live music blaring, trading types were enjoying-as you might expect-food, drink and conversation. The host was BIDS Trading, and things are beginning to heat up for the dark pool. BIDS is the crossing network owned by roughly a dozen big brokers. Last month it broke two previous records for trading volume. The cause for celebration on the NYSE floor was the launch of BIDS Trader, its new buyside interface.

HFT's Bright Lights

Last month, the prestigious Society of American Business Editors and Writers awarded Traders Magazine a 2009 prize for its reporting on the flash order controversy. That's quite an honor and puts this publication on a list alongside some of the nation's most prominent publications.

Seven Signs for 2010

The market closed the books on 2009 in early November, but predictions for the new year trade on a calendar basis. Below are ours for the market structure landscape.

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