Brokerage

Industry group says the proposal is a one-size-fits-all approach that doesn’t consider a mutual fund’s structure and objectives.

Usage of algorithm wheels, the automated selection of sell-side algos, is heating up, according to executives at the recent FIX Community's Americas Trading Briefing.

Brokers and investors can submit bids for primary share offerings to achieve allocations on all in-the-money orders.

Agency shop JonesTrading, known for its large network of equity sales traders, has expanded into a new asset class-distressed bonds. JonesTrading last month began trading the illiquid bonds of troubled companies for two reasons: First, customers demand was strong; and second, it believes that bond trading is migrating toward the equities model of agency trading-particularly distressed bonds.According to Moody's Investors Service, the recent credit crunch and slowing economy have already pushed bond defaults way up-about five times what they were last year during the same period, or $1.4 billion last year compared to $7.27 billion this year. Consequently, it shouldn't come as a surprise that JonesTrading sees distressed bonds as a growth area for the firm.

Shoukry, currently CFO, will become CEO sometime in fiscal 2025.

Today the United States, tomorrow the world. That's the mantra guiding a group of high-velocity traders-a.k.a. automated market makers-who currently dominate U.S. equities and who are setting their sights on other asset classes and overseas markets.Right now, this largely unknown, media-shy group of broker-dealers and proprietary trading shops is involved in more than half the trading volume in U.S. equities, according to market participants. Their computer-generated quotes are at the inside market-national best bid, best offer-for every large- and mid-cap stock, sources say.

An increasing portion of overall brokerage revenue from institutional trades is concentrated in the top 10 firms, a recent TABB Group report estimates. Yet despite the boon for the largest shops, a growing percentage of commissions are bypassing high-touch sales trading desks for cheaper electronic executions.

Market participants need tools to effectively manage their risk across all asset classes.

Sales traders can be forgiven for being a little nervous. It's no secret that new technology has evolved and spread over the past few years, encroaching on their turf. This entails not just technology the buyside has used for more self-directed trading, but also the growing research management space.

Tough times on Wall Street haven't stopped a number of firms from stepping up and donating a day's commissions to a number of good causes.