Featured Articles

Cover Story: Not So Fast!

Jim Angel called the flash crash. In an April 30 letter, the Georgetown University professor and market structure expert told the SEC that "with so much activity driven by automated computer systems, there is a risk that something will go extremely wrong at high speed." Six days later he was proven correct.

Broker Focus: Bigger is Better for Citi

Size matters. That's the mantra over at Citigroup Global Markets these days, where Dan Keegan, the recently promoted co-head of the electronic trading division, is steering his group to become bigger.

Cover Story: Reversal of Fortune

For most of their history, the nation's options exchanges have looked to market makers for their revenues. In return for a dominant role at the exchanges, market makers paid the lion's share of the fees. Customers, on the other hand, traded for free. That arrangement is now breaking down.

Out of the Dark

If implemented, a trade-at rule could result in a much higher number of orders sent to public markets than today.

Kaufman's Crusade

Senate newcomer embarks on unexpected cause to reform equities.

Cover Story: Rebound

Despite access to an ever-growing menu of electronic trading toys with greater sophistication, some money managers are finding that there is still room in their repertoire for the tried and true of block trading: capital commitment.

A Buttonwood Tree Grows in Mahwah

It wasn't simply a landscaping flourish or a nod to history that prompted NYSE Euronext executives to plant a group of buttonwood trees outside their massive new data center in Mahwah, N.J. this spring.

Crashing The Corporate Access Party

Agency brokerages of many stripes have started corporate access businesses, long the domain of the large investment banks.

Cover Story: Lying in Wait

It's called anticipatory trading. And fleet-footed traders today are using the strategy to sniff out institutional orders in the marketplace and run ahead of them for profit, many in the industry say.

Slowing Things Down

On Feb. 24, roughly one year after first proposing new rules to curb short selling, the Securities and Exchange Commission adopted Rule 201, or the alternative uptick rule.

Big Firms Seek "Fast'' Money

Bulge bracket firms are looking to get a foothold in the high frequency trading business as a result of proposed new regulations that will alter the playing field for sponsored access.

How Low Can You Go?

A Securities and Exchange Commission idea to bring more trading to the displayed markets goes too far for some trading officials and not far enough for others.

What Does The Buyside Want?

It's not easy being a buyside trader these days. In late January, during the annual conference of the Chicago chapter of the Security Traders Association, a group of four buyside traders from around the Midwest, aired their grievances over a work environment that has changed beyond recognition.

Cover Sidebar: It's All Relative

Institutions have increased their usage of ETFs because they want quick and cheap exposure. More specifically, ETFs work well with some of their portfolio strategies.

Trading the Manager

In late 2008, Ben Sylvester stumbled upon an idea that would change the way many investment decisions are put to work at JPMorgan Asset Management.