Brokerage

Execution Management Systems are moving away from their bulge broker roots and are increasingly offered by various independent vendors. Traders are also becoming more comfortable with hosted and cloud-based EMSs rather than those hard-wired into their desktop

Deep Value, a Chicago-based vendor of equity algorithms, is expanding beyond both its equity and vendor roots to start trading credit products, currencies, and interest rate products.

Securities regulators fined Knight Capital Americas LLC $12 million for the trading malfunction that roiled the U.S. stock market in August 2012, saying the firm ignored dozens of error messages before its computers bombarded exchanges with millions of unintended orders.

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Institutional brokerage S.J. Levinson & Sons and vendor Charles River formed a partnership to distribute Levinson's transaction-cost analysis software through Charles River's trading and portfolio management system.

Pragma, an algorithm vendor to broker-dealers and statistical arbitrage hedge funds, has begun to court traditional asset managers

Agency-only broker Bloomberg Tradebook will be hosting its second annual charity day where it will donate a day's equity trading commissions to philanthropic causes.

Big brokers began offering foreign exchange trading algorithms five years ago, and now all of the major players have an offering. Now a vendor is hoping to upend the status quo with a suite of algorithms it claims will offer a better execution.

Interest by money managers to eliminate exchange rebates is meeting resistance from exchanges, brokers and regulators.

Following recent comments by Securities and Exchange Commission Chair Mary Jo White about a pilot program allowing larger trading increments for smaller stocks, one of the industry's largest market making firms is promoting a tick size plan of its own.