Commentary

Steve Grob
Traders Magazine Online News

Key to the Highway: The Changing Face of High and Low Touch Execution

This paper by Fidessa's Steve Grob looks at high and low touch trading in capital markets and how they are morphing to meet the practical realities of participants today.

Traders Poll

Are you ready, financially or otherwise, for the upcoming slew of new regulations and mandates given by the market regulators

Yes

33%

No

33%

Could use more time

11%

Could use more money

22%

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News

Building a Pure Dark Allocation Algorithm for Equity Execution

In this Bloomberg Tradebook blog, the authors argue that dark pools have diverged from their original intent with different pools benefiting different types of traders; some pools are better for large blocks that may take longer to get done, while others o?er a substantial amount of readily available liquidity.

Sold to You Under the Buttonwood Tree

In this contributed article, guest commentator Nick Savona discusses the merits of developing an auction model marketplace where relationships between the buy- and sell-side are rebuilt and achieve a common goal - best execution.

TRADING THE WEEK: Back to Trading After Fed Meeting

Now that the Federal Reserve is out of the way -- for now -- traders can get back to trading for reasons other than speculating whether the central bank will raise rates sooner or later compared with market expectations.

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.

New Blood

Fresh-faced yet experienced graduates are entering investment firms in strong numbers. Traders looks at this crop of bright young things and the new skills and placing new demands on the buyside.

The New Topic

Some unintended consequences from the credit crisis of 2008 and the regulations that followed have come to light. Also, buyside firms are gathering their traders to rate the research and execution services from the sellside in relentlessly thorough scoring sessions.

A Clear Answer on HFT

High-frequency traders and supporters claim that HFT is helpful to the equity market. The data presents a starkly different story.

Better Data Emerges After Rules Battle

Once the fight for new regulations settled down, an unintended victor has emerged: the data and data systems used by today's traders.

Here Today, Gone Tomorrow?

Over the past year, the liquidity in emerging currencies grew in fits and starts quarter to quarter. Traders asked FX veterans for their outlook on the next 12 months.

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