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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News

How Secure Is the Buyside?

It was a ploy as brazen as it was ingenious. A team of rogue traders from the U.S. teamed up with clever hackers and traders in Ukraine to break into the servers of major media firms. See how this latest cyber attack could spell trouble for the buyside.

Was This a Flash Crash? And Other Questions About Monday’s Swoon

U.S. investors were jittery on Monday morning after fears of an economic slowdown had rocked markets around the world. So, was the recent equity market behavior another flash crash.

Dark Pools Were the Losers as U.S. Markets Saw Volume Spurt

Add dark pools to the list of losers during Monday’s rout in the U.S. stock market.

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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