Brokerage

Canadian brokers are hiring in the US. Also, see which long time Guzman trader jumped ship. Plus, see which traders are switching careers.

(Bloomberg) -- Thomas Joyce, who built Knight Capital Group Inc. into one of the biggest U.S. market making firms only to see it driven to the brink of bankruptcy and then into a suitor’s arms, is leaving the company.

During a lunch with a bulge firm, Traders Magazine discussed a range of topics, but perhaps the most pertinent was the changing nature of the buyside-sellside relationship during these slumping times.

For Lionel Mellul, the second time around opening a U.S. trading desk will hopefully prove the charm. The former co-founder and chief executive of now-defunct Momentum Trading Partners is looking to carve out a niche for himself by offering white-glove, high-touch service to a select clientele.

Two Sigma Securities is entering the wholesaling business. The firm is leveraging the technology infrastructure and trading expertise of its buyside parent, Two Sigma Investments, and is making inroads into the business of filling orders for retail brokerages with firm capital.

Traditional asset managers are growing more comfortable with foreign-exchange trading, and while many are dealing directly over the phone with large banks to facilitate their FX trading, some are crafting their own forex trades on electronic platforms.

The buyside is looking for even more insight and control over its algorithms.

Who's moving on the Street in equities and derivatives? Traders Magazine's OTM--On the Move --brings that info right here.

Citi is providing buyside traders an algorithm designed to help them trade at the market opening and during the first 15 minutes of trading.

Bank of America Merrill Lynch ranked first among the top U.S. equities trading houses in an annual survey conducted by Greenwich Associates. The win comes against a backdrop of declining commissions and retrenchment across the Street.