SEC May Extend Planned Rule to Brokers
(Bloomberg) -- The U.S. Securities and Exchange Commission may include large brokers and dark pools in a planned rule aimed at ensuring that regulated securities markets have adequate technology systems, an SEC official said.
Reg NMS Boosts Broker’s Sellside Business
EdgeTrade, a small, New York-based direct-market-access broker geared to the buyside, is angling for sellside clients. The firm expects Regulation NMS and the growth of dark liquidity to make that job easier, as brokers realize they need smart order routing to get better executions.
SEC WRAP: A Collection of SEC Roundtable Coverage
Today read about some of the highlights and news that came from Tuesday's Securities and Exchange Commission Market Technology Roundtable. Traders Magazine presents three stories that cover the event from start to finish.
Neovest’s Do-It-Yourself Algo Revolution
It's official. First came the OMS. Then the EMS. Now there's an AMS. Neovest, the builder of a popular execution management system, is incorporating functionality into its platform that lets traders more efficiently manage their use of the 100-plus algorithms on the system. The vendor, a subsidiary of JPMorgan, calls AlgoGenetics, its new software toolkit, an algorithmic management system, or AMS.
Foresight Project Pronounces HFTs Mostly A O.K.
High-frequency trading gets a clean, but qualified, bill of health from a just released study sponsored by the British government.The International Foresight Project, a two-year investigation of electronic trading and markets, underwritten by the U.K. Government Office for Science, found no evidence that high-frequency trading has increased volatility or market abuse in the world's financial markets.
The Small Exchange Raises $10 Million from Citadel Securities and Jump Capital
Both HFTs have each made a $5 million investment in the Small Exchange and plan to be key participants on the Small Exchange when it launches later this year.
ICAP Shutters NYSE Floor Business
ICAP closed its New York Stock Exchange floor trading operation Thursday. The move comes after the resignation last month of a key employee and affects about four people.
Joint Statement on Broker-Dealer Custody of Digital Asset Securities
Regulators issue a statement on the ability of a broker-dealer to comply with aspects of the Customer Protection Rule and its applicability in the cases of certain digital assets.
Rochdale Remains on Rocky Road to Recovery
The hunt for financing is still on. Its star banking analyst is hanging on. And the trader whose Apple bet forced the firm to close down is arrested.
FLASH FRIDAY: Bleak Hiring Picture in Equities
In today's FLASH FRIDAY item, Traders Magazine discovers that when it comes to hiring equities traders nothing much has changed in the last nine years.
