Knight to Unite Institutional Sales Teams
Knight Capital Group said it will consolidate its full service and electronic institutional equities sales teams, as it reported a drop in profit but gains in equities trading volumes. Knight is in process of merging with fellow market maker GETCO.
Switching Chairs at SEC Delays Market Structure Changes
President Obama’s nomination Thursday of Mary Jo White to be the next chairman of the Securities and Exchange Commission brings delay and uncertainty about how equities markets will operate, for the long haul, industry participants said.
TRADERS ON THE MOVE: Firms Pick Up Nomura Talent
Equity trading executives from Nomura Securities have landed positions with Bradesco, a Brazilian bank, Wells Fargo Securities, Raymond James & Associates, Brean Capital and Instinet. Plus, moves that matter at Janney Montgomery Scott, Morgan Stanley and Citadel Securities.
BTIG Grabs Three Traders from Knight
Chicago-based sales traders Peter Murphy, Matt Biety, and Matt Krebs left Knight Capital Group to take positions at BTIG, the institutional brokerage.
Direct Edges Discloses Order-Handling Discrepancies
For the second time since Christmas, a major U.S. stock exchange operator has announced discrepancies in how its computer systems price and prioritize complex trade orders routed through the exchange.
Barclays Posts Low-Touch Trades
Barclays is now posting its low-touch trade advertisements in "near real-time" on Bloomberg's IOIA network.
Direct Edge Adds Kill Switches
Direct Edge has built pre-trade risk controls, including automated and manual kill switches, into the software that matches orders on its EDGA and EDGX exchanges.
Academy Offers Clients Block Trading Via BIDS
Academy Securities, a veteran-owned broker-dealer, will now offer its clients the ability to get their block trades done directly and quietly through BIDS Trading
Rochdale in Limbo as Probe Continues
CEO Daniel J. Crowley says the institutional trading firm is still open even though it can't publish research or trade securities. A capital injection is needed, but likely won't come until a federal probe of its errant $1 billion trade in Apple stock is resolved.
Investors Can Now Use AX To Find Blocks
AX Trading Network announced the launch of "DirectAX," an offering that allows investment banks working on behalf of issuing companies and private equity/venture capital firms to use the alternative trading system's call auction system to directly sell institutional investors blocks of stock.
