Commentary

EDITOR'S LETTER
Tom Steinert-Threlkeld

Trading Through

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.

Traders Poll

Would creating a handful of "universal" order types help reduce the complexity of equities trading?

Yes

40%

No

30%

There are other issues to be considered

30%

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Defining the Alpha Code

The Boston Company’s David Brooks, along with his fellow traders, is spending more time mining and analyzing data to find lesser-known stocks that can provide clients with above-average alpha and boost returns.

On the Move

Who's moving on the Street in equities and derivatives? Traders Magazine's OTM--On the Move--brings that info right here.

Forex Trading Getting 'Equitized'

Large asset managers are now synchronizing the trading of currencies and equities on a single desk to help clients’ execution.

Word for Word with Nick Nielson

Nick Nielsen is head of quantitative trading at Marshall Wace, a British hedge fund. He spoke at TradeTech in New York in February about his trading process. Nielsen's advice to his audience was to develop a "repeatable process" and keep refining it through experimentation. We excerpt some passages from his talk.

Joining Forces

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.

Celebrating Excellence

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."

On the Move

Who's moving on the Street in equities and derivatives? Traders Magazine's OTM--On the Move--brings that info right here.

One-Touch Is the Future, Exec Says

The institutional equities business is moving to a one-touch coverage model, but the buyside's participation is optional. That's the message Brian Fagen, Deutsche Bank's head of North American execution services, sent to attendees at last month's TradeTech conference in New York, according to conference-goers.

Block Trading, In Your Hand

The New York Stock Exchange is taking the wraps off a five-month-old system that allows floor traders to effect crosses in blocks of 10,000 shares or more, using electronic broking devices.

20/20 Hindsight

In this issue, we've gone back to check in with the Super Traders profiled by Rubenfeld two decades ago. You will get their individual perspectives on the changes wrought by the intervening two decades.

Lessons from The Super Traders

Twenty years ago, a book titled “The Super Traders” set out to capture the “secrets and successes of Wall Street’s 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.

Big Trades on Small Firms

Since 2005, Perritt Capital Management's George Perritt has been building up a specialty: trading in large blocks, which now accounts for 35 percent of its activity. Here’s how the buysider manages it.

Switching Chairs Delays Changes

President Obama's nomination of Mary Jo White to be the next chairman of the Securities and Exchange Commission brings delay and uncertainty about how equities markets will operate over the long haul, according to participants in industry discussions.

On the Move

Who's moving on the Street in equities and derivatives? Traders Magazine's OTM--On the Move--brings that info right here.

One Touch

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.

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WALL STREET WOMEN 2012: Start-Up Success

Dana Dakin, Founder of Dakin Partners and a recipient of a ‘Wall Street Women 2012: Entrepreneur of the Year’ award discusses why she started her business, what it’s like to be a women entrepreneur, and what it takes to be successful.

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