The mispriced transactions totaled 442,600, from October 2008 through the start of this year. The amount owed customers for the mistakes was $420,360. Less than a buck a trade. On a 200-share trade, that equals less than 3 cents each.
Forex Trading Getting 'Equitized'
Large asset managers are now synchronizing the trading of currencies and equities on a single desk to help clients execution.
At Odds Over Increments
Are higher trading costs justified if they produce more support for small- and mid-cap stocks? That question is at the heart of a debate among trading practitioners, regulators and academics as the Securities and Exchange Commission mulls the introduction of a pilot that could quintuple the size of the minimum trading increment.
Agency brokerage Rosenblatt Securities is going to execute trades and provide other infrastructure services such as technology, back office and compliance for Wedge Partners, a research-focused broker-dealer based in Denver that is choosing to hone its focus on research.
For years, exchange-traded fund trading volume surged. Now, its slumping too. Nasdaq, NYSE and BATS are now slugging it out with incentives, new order types and a new ETF-focused exchange to resuscitate trading.
On Jan. 15., nearly 300 attendees gathered in New York to honor the award winners for Traders Magazine's second annual "Wall Street Women: A Celebration of Excellence."
Japan is actively devaluing its yen. Other nations threaten to retaliate, in kind, to stimulate their own economies through cheaper exports. A global currency war could wreak havoc on many smaller economies and stall out the budding recovery under way in larger ones ... or not.
Rising Through the Ranks
Look out, Credit Suisse. Barclays is closing in on U.S. dark pool supremacy. Simply put, Barclays' LX dark pool is now the second largest in the United States, behind only Credit Suisse's longtime leader, Crossfinder.
Lessons from The Super Traders
Twenty years ago, a book titled The Super Traders set out to capture the secrets and successes of Wall Streets best and brightest minds. Then, there were three national markets and 407.3 million shares traded a day. Here are the perspectives of those best and brightest minds on how trading has changed.
Happy Days Are Here Again
Across the globe, foreign exchange desks are partying like it's...well, any year but last year.
If the changes taking place at Goldman Sachs these days are any indication, the business of handling institutional orders is entering a new, highly controversial phase.
Wishing for Higher Rates
Executives privately say that dirt-cheap money and interest rates near zero are hurting both the brokerages and their clients.
JPMorgan Chase's corporate and investment bank has begun to roll out a technical platform designed to consolidate 30 different trading systems into one. The "first wave of execution" in the J.P. Morgan Markets system puts trading in foreign exchange, rates and commodities onto the platform.
Becoming a Superpower
GETCO, which began as a prop shop, intends to use Knight Capital Group's wholesaling connections along with large retail order flow to become a trading superpower. That, it hopes, will make it a trading power that will attract new institutional clients.
Port of Call
In this commentary written by CIBC and NYSE Technologies, authors discuss the rationale behind sending successful U.S. algorithms to Canada for a second life.
You have to crawl before you can walk. That's the philosophy of trading industry veterans Jim Smyth and Peter Gallo, as they lead institutional brokerage Cantor Fitzgerald into wholesaling, the business of servicing retail brokers.