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.
Looking Forward, Back at Risks
Omaha, Neb.-based PrairieSmarts is rolling out software that looks at risks faced by securities in both the past and future.
Debate on EMS/ OMS Merger
So far, there's no clear direction as to whether buyside trading desks should keep management and execution of their orders in two separate systems or unify them in a single one.
ITG Adds Anti-Gaming to Dark Pool
ITG has added anti-gaming technology into the operation of its POSIT dark pool, to protect institutional traders from high-frequency trading firms trying to sniff out their orders.
ITG Algo Taps Auction Close
Agency broker ITG announced a new algorithm designed to help traders better trade during the close, or the final 15 minutes of the day.
Weeden Algo Targets End-of-Day Liquidity
Institutional broker Weeden & Co. has released a new algorithm designed to capitalize on the increased trading activity near and at the equity market close.
ConvergEx Algo Searches Pre-Market
ConvergEx Group is now offering an automated trading option for buysiders who want to trade before the equities mart opens.
InfoReach Offers Customizable Risk Controls
InfoReach now offers buyside traders the ability to customize and configure their risk controls in real time across multiple asset classes.
Linedata Adds Venue Info to Trader+
Linedata has added functionality to its Trader+ trade and order management system that displays the names of the market centers at which users' orders are filled.
4th Story Offers Real-Time Analytics
San Francisco-based 4th Story has begun to offer trading desks and brokers a full suite of analytics, data visualization and notification features.
Paladyne Offers OMS Alone
Traders can now get Paladyne's order management system without having to purchase it as part of a larger, more expensive bundled trading solution.
Newport EMS Organizes Broker Algo Settings
Instinet has added functionality to its Newport execution management system that is intended to make it to use multiple brokers' algorithms. Newport's additional feature, dubbed "OneTicket," helps buyside traders who use a single EMS to access multiple brokers' algo strategies.
Livevol Launches New Options Trading Platform
Livevol, a San Francisco-based vendor of equity options trading technology, has launched a new options trading system that includes a trade execution system, data and analytics tools and visual aids.
Direct Edge Adds Kill Switches
Direct Edge has built pre-trade risk controls, including automated and manual kill switches, into the software that matches orders on its EDGA and EDGX exchanges.
Barclays Posts Low-Touch Trades
Barclays is now posting its low-touch trade advertisements in "near real-time" on Bloomberg's IOIA network.
BATS Offers Risk Tools to All
BATS Global Markets has made its no-cost risk management tools available to all U.S. equities and option markets customers. Previously, they were available only to its sponsoring members.