The line between exchange trading and off-exchange trading has blurred to the point where there really isnt that big a distinction anymore.
Traders Magazine Online News
May 24, 2013 – Independent broker-dealer National Alliance has added three sales traders, bulking up its recently created equities trading desk.
May 24, 2013 – Bank of America Merrill Lynch hired Goldman Sachs-bred Tracy Caliendo to help further build its hedge fund business.She joins the bulge firm as a managing director and head of Americas Equity Hedge Fund Services. Based in New York, she will join the firm in September.
May 23, 2013 – Direct Access Partners has shut down. The institutional brokerage stopped handling orders two days ago, sources tell Traders Magazine, after its clearing firm, Goldman Sachs, stopped clearing its trades.
May 23, 2013 – Wholesaler Citadel must believe that things are looking up in the trading industry. It has hired four new market makers on its Over the Counter trading desk and a broker-dealer sales exec, further bulking up the firm's trading business.
May 23, 2013 – FINRA reached an agreement with Direct Edge to monitor its two stock exchanges, EDGX and EDGA, for trading abuses. The deal gives FINRA oversight of 90 percent of volume.
May 23, 2013 – A Wall Street regulator is considering new rules to shine light on dark trading after the largest U.S. dark pool operator stopped sharing data on the volume of its trades.
May 23, 2013 – Merriman Capital brought on two trading execs from teh now defunct ThinkEquity Partners. Jack Monopoli will head advisory trading and market making. Bill Southern joined as a sales trader. Plus moves that matter at Maxim, Macquarie and Nasdaq.
May 22, 2013 – Nomura snagged two senior bulge bracket executives to head its foreign exchange and interest rate sales groups in the Americas. The Japanese investment bank hired Tom Haskins as a managing director and head of foreign exchange sales Americas, and Eric Miller as a managing director and head of interest rates sales Americas.
May 22, 2013 – Citigroup set a goal this year of regaining the top spot in in Euromoney's annual rankings of the world's largest foreign exchange trading operations by volume, which it last held in 2002. But it fell just short-coming in 0.28 percent behind leader Deutsche Bank in market share. Enjoy this Q&A with Citi's Bernie Sinniah on Citi's strategy to get to the top FX spot.
May 22, 2013 – Wells Fargo Securities announced Wednesday that it has hired two senior executives to help lead its equity sales and trading groups. Patrick Neal joined the firm as co-head of equity sales and Mike Riley has joined as co-head of equity trading
May 22, 2013 – The ongoing search for alpha is the job of Derek De Petra, partner and managing director of international trading at San Francisco-based investment firm Artisan Partners. Finding above-market returns for portfolio managers and in block size is the goal he pursues around the globe, regardless of whether it is in Russia, Nigeria or South America.
May 21, 2013 – Change or die. That's what Woodbine Associates is advocating in a new report released today, "Sales-Traders: Asset Manager Expectations from High-Touch Coverage'." Brokers must change their approach if they want to offer a superior high-touch trading experience, the report said.
May 21, 2013 – The SEC has extended the comment period on its proposed Regulation Systems Compliance and Integrity for 45 days, to July 8. Securities exchanges and FINRA had asked for a 90-day extension.
May 20, 2013 – Institutional traders are opening their collective wallets wider and spending more on their order and execution management systems to keep pace with the changes in equity market structure, according to a report from Greenwich Associates.
May 20, 2013 – Institutional broker BTIG celebrated its annual commissions for charities day this Tuesday by raising about $4 million for various charities.