Commentary

Gregg Wirth

Dark Pools, SEC and Market Structure

W. Hardy Callcott, a partner at Sidley Austin LLP in San Francisco and former SEC official, spoke recently to Traders about dark pools, the SEC and how 'Flash Boys' continues to drive the markets crazy.

Traders Poll

With the recent news surrounding Barclays LX dark pool and investigation, have you considered not using the venues at all?

Yes

43%

No

38%

The thought crossed my mind

19%

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News

Why Banks Sometimes Buy a Lot of Stock and Take Risks

Columnist Matt Levine takes a look at how and why banks buy stock and the risks associated with such an activity.

Dirty Consultants and Fat-Finger Traders

Guest columnist Matt Levine takes a look at how some traders have managed to go scot-free while others have not and other happenings around Wall Street this week.

High-Speed Trading Risk Blamed on Short-Sighted U.S. Regulations

A technology arms race that risks destabilizing U.S. stock markets was triggered by regulations intended to promote competition among the exchanges, Wall Street executives will tell a Senate committee.

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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