Saturday, July 11, 2020

Stanford Receivership Woes Torpedo Equity Traders

Stanford Receivership Woes Torpedo Equity Traders
Equity and sales traders have taken another hit with this week's closing of the Stanford Group Co., which sent more than 20 institutional trading pros out of work and into the street.

Hillary Clinton Steps Into High-Frequency Debate With Tax Plan

Hillary Clinton Steps Into High-Frequency Debate With Tax Plan
Hillary Clinton is proposing a tax on the flash boys that may be unlike any in the world.

Recapture Going Strong

Recapture Going Strong
Commission recapture, despite predictions of its imminent decline, is growing at one of the top firms involved in the practice. At agency brokerage BNY ConvergEx Group, 279 new plan sponsor clients entered into its commission recapture programs in 2006, according to the firm. That's up from 217 in 2005, a 29 percent increase. That's also a record high for BNY ConvergEx's LJR Recapture Services since Lynch Jones and Ryan became part of what is now…

Nasdaq Dealers Under Scrutiny

Nasdaq Dealers Under Scrutiny
Nasdaq has begun supplying its issuers with lists of the broker-dealers making the most aggressive markets in their securities.

CLS Launches Same-Day FX Settlement with J.P. Morgan and Goldman Sachs

CLS Launches Same-Day FX Settlement with J.P. Morgan and Goldman Sachs
The service mitigates FX settlement risk, enhances liquidity management, and provides balance sheet benefits for banks.

FIF Launches CAT Counterparty Contact Utility

FIF Launches CAT Counterparty Contact Utility
The Utility three-month testing cycle will allow brokers to identify the counterparties that caused the interfirm linkage mismatches, ensure that proper matching criteria is established, and test repairs.

Soft-Dollar Practices Help Brokers and Buyside: Report

Soft-Dollar Practices Help Brokers and Buyside: Report
The useof Commission Sharing Agreements and Client Commission Agreements, otherwise known as "soft dollar" arrangements, benefit institutional investors and brokers who uses them more than the underlying investor, according to a report from Woodbine Associates.

Equities Trading Stings Wall Street Banks as Investors Embrace Bonds

Equities Trading Stings Wall Street Banks as Investors Embrace Bonds
In a reversal of fortune for Wall Street banks that have invested heavily in equities trading, clients flocked back to bonds last quarter and left stocks behind.

A Q&A With CBOE’s CEO Brodsky and COO Tilly

A Q&A With  CBOE’s CEO Brodsky and COO Tilly
Chicago Board Options Exchange chairman and chief executive officer Bill Brodsky and president and chief operating officer Ed Tilly broke bread with the New York City press corps recently in order to update the scribes on the exchange operator's initiatives. Reporters learned that a quarter of CBOE's volume came from proprietary products, specifically its index options, but over half its profits.

BNP Paribas and GTS Extend Strategic Collaboration into US Equities

BNP Paribas and GTS Extend Strategic Collaboration into US Equities
The collaboration enables BNP Paribas to leverage GTS trading and technology capabilities to provide clients with deeper liquidity, tighter spreads and improved pricing in the US stock markets.

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