For equity markets, it was a tough year to say the least.
As the year began, brokers on the precipice of death due to 2011’s anemic volumes began closing their doors, when volumes dropped by roughly 20 percent again. Say goodbye to WJB Capital, Ticonderoga Securities and, in institutional trading, Nomura. The year was also plagued by high-profile trading mishaps and glitches: The failed BATS Global Markets IPO in March, the botched Facebook IPO in May (and the corresponding compensation proposed by Nasdaq) and the near collapse of Knight Capital Group from a flood of erroneous orders. By year’s end, Knight agreed to merge with GETCO, in a marriage of market makers.
It’s been quite a year.
Click here to see the top 10 stories of 2012.
