Commentary

Michael Levas

Are Untraditional Correction Corrections the New Norm?

Many hedge fund managers have been awaiting the elusive traditional correction of 10 percent. It has been a record number of days since such an event has occurred, which has frustrated both market Bears, who want to profit from such a sell-off, and Bulls, who are awaiting a better entry point.

Traders Poll

With all the talk around HFTs and their trading practices coming under the microscope, do you expect more state regulators and officials to begin examining HFT practices - just like with Big Tobacco?

Yes

81%

No

12%

Just Congress and the Federal Goverment

8%

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Traders Magazine Online News

Defiant HFT Panel Pushes Back At Regulation

– High-frequency traders and representatives from HFT firms vigorously and defiantly defended their practices after a speech from the U.S. Attorney office in New York at the Security Traders Association of New York conference last week.


Madoff Ex-Aides Seek Acquittal Citing Unfair Trial, Tainted Jury

– Five ex-employees of Bernard Madoff who were found guilty last month of aiding his $17.5 billion fraud asked the judge in the case for an acquittal or a new trial, citing a lack of evidence and flawed jury behavior.


High-Frequency Traders Said to Be Subpoenaed in New York Inquiry

– New York Attorney General Eric Schneiderman sent subpoenas to six high-frequency trading firms seeking information about special arrangements they have with exchanges and dark pools as well as their trading strategies, according to a person familiar with the matter.


Credit Suisse Sees March ETF Growth, Led by Domestic Equity

– Equity exchange traded funds have pushed into positive territory for the month of March, finally surpassing fixed-income funds.


Money Managers Also Drive High-Speed Trading, SEC’s Berman Says

– The speed and complexity of modern stock markets is partly driven by long-term investors who have adopted strategies pioneered by high-frequency traders, according to a top U.S. securities regulator.


HFT Lawsuit Against CME “Peeks” Just the First Salvo?

– Three traders accuse the Chicago exchange group of sharing information to high-frequency traders in what could the first of many such lawsuits.


NYSE Owner Said to Buy Algo Technologies to Modernize Exchange

– IntercontinentalExchange Group Inc., owner of the NYSE, has purchased Algo Technologies in a move designed to modernize the U.S.'s oldest bourse.


COMMENTARY: Are Untraditional Correction Corrections the New Norm?

– Many hedge fund managers have been awaiting the elusive traditional correction of 10 percent. It has been a record number of days since such an event has occurred, which has frustrated both market Bears, who want to profit from such a sell-off, and Bulls, who are awaiting a better entry point.


BCS Hires Ex-Bank of America Merrill Lynch Prime Brokerage Exec

– BCS Financial Group, operator of Russian broker-dealer BCS, has brought on two new execs, including one former bulge bracket veteran.


TECH TUESDAY: Citi Launches Total Touch Price via Bloomberg

– Bulge bracket broker Citi is now offering its electronic block pricing system via the Bloomberg system.


Nasdaq CEO Says Michael Lewis Comments on HFT ‘Irresponsible’

– Michael Lewis’s argument that the $23 trillion U.S. stock market is rigged in favor of speed traders is careless, according to Nasdaq OMX Group Inc. Chief Executive Officer Robert Greifeld.


TECH TUESDAY: Buyside Liquidity Improvement Tools Come from S3

– Trading technology vendor S3 has launched a suite of execution quality tools that are designed to maximize the quality of liquidity sought by both the buy- and sell-side.


TM FX: ICAP and EBS Launch an Electronic FX FIX Service

– ICAP has taken two of its units and integrated then to form a new unified electronic FIX service for foreign exchange.


High-Frequency Traders Get Curbs as EU Reins In Flash Boys

– European Union lawmakers are poised to approve some of the toughest restrictions in the world on high-frequency trading, the first crackdown in the aftermath of Michael Lewis’s latest book, “Flash Boys.”


TRADERS ON THE MOVE: Sussman Joins Liquidnet, LCH Names First U.S. Chairman

– Block trading venue Liquidnet brings on respected veteran analyst to head up its market structure group while clearing firm LCH. Clearnet has named its first U.S. chairman.



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