Bank of America Corp. traders who left as the lender dismantled their electronic market-making unit are attempting to recreate the business as an independent firm with former Knight Capital Group Inc. chief Tom Joyce.
Self-clearing will provide lower trading costs for a big publicly traded agency broker and boost its bottom line. This is what officials of Investment Technology Group (ITG) said as the firm recently implemented a program of self-clearing. ITG will no longer use Jefferies & Co.'s clearing platform.
Reversing course after Friday's emergency ban on short-selling, the Securities and Exchange Commission this morning granted options market makers permission to sell stocks short to support their market-making activities. The turnabout came in the wake of dire warnings Friday that the U.S. options market would not function today without relief from the ban.
(Bloomberg) -- A former JPMorgan Chase & Co. executive was barred from the brokerage industry for allegedly passing inside information on corporate mergers to a friend, the Financial Industry Regulatory Authority said.
Here are recent hires and promotions in the equities and derivatives trading world, as Wall Street pros make that move, right now. Read about who's now heading sales trading at Mizuho USA, plus a group of traders in Boston who have joined Saratoga Capital, as well as new hires at Raymond James, Exegy and Toro Trading.
Here are some images from the recent Security Traders Association confab held recently at the Inn at Spanish Bay in Monterey, Calfornia.
Bank of America Corp.s Merrill Lynch was fined a total of $6 million by the Financial Industry Regulatory Authority over U.S. short-selling rules.
The whipsaw of stock prices this year is not due to faulty functioning of markets, say exchange operators. Tinkering with market data or other parts of a "highly tuned engine" must be carried out carefully, as a result, said Goldman Sachs' head of U.S. equities trading.