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News & Commentary
Content tagged with Trading Technology posted in January 2013
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Deutsche Bank Swallows $4 Bln of Charges for Clean Up
News  |  1/31/2013  | 
Deutsche Bank plunged to its worst quarterly loss in four years on Thursday after it took nearly $4 billion in charges to try and draw a line under a slew of scandals and boost its balance sheet without asking shareholders for cash.
Second Twitter Hoax in Two Days Smacks Another Stock
News  |  1/31/2013  | 
Sarepta Therapeutics became the second company in as many days to see its shares plunge as a result of a Twitter hoax.
The Hedge Fund Transparency Challenge
News  |  1/31/2013  | 
As hedge funds face an onslaught of financial regulations and data reporting requirements from regulators and investors, they're scrambling to aggregate data and calculate risk metrics.
Economic Outlook: Europe Stabilizes, Debt Worries Mount
Commentary  |  1/30/2013  | 
Europe is finally stabilizing, while Latin America's problems continue to get worse, according to Rebellion Research's Chief Investment Officer.
Despite High Hopes, BB10 Likely To Become Only A Niche Player
Commentary  |  1/30/2013  | 
The new platform offers a different user experience, but this might not be enough to reverse the company's slide.
From RIM to BlackBerry, A Company in Transition
News  |  1/30/2013  | 
Research In Motion Ltd has launched its new line of re-engineered BlackBerry smartphones, taking the wraps off the long-delayed devices at a series of events around the world on Wednesday.

JPMorgan Bet Against Itself in 'Whale' Trade
News  |  1/30/2013  | 
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
Chinese Investment Bank Builds Algo Strategies for Retail Customers, Taps Progress Apama Platform
News  |  1/30/2013  | 
Citing demand from high-net worth retail customers, China Merchant Securities is providing eight common strategies for equities and equity derivatives, and plans to expand the offering to institutional clients in the future.
Follow The Money: Transform Your IT Supply Chain
News  |  1/30/2013  | 
To avoid a future that repeats the past, organizations need to establish core tenets for how they approach contracts and manage the IT supply chain.
US Treasury Allowed Excessive Pay at TARP Firms
News  |  1/29/2013  | 
The Treasury Department failed to curb executive pay last year for the second year running at companies rescued by the government.
ICE's CEO Has Fielded Calls About Selling Euronext
News  |  1/29/2013  | 
ICE has received inquiries from rivals interested in buying NYSE Euronext's European stock exchanges once ICE completes its purchase of the New York-based exchange operator.
Video: The Future Of Data Management
News  |  1/29/2013  | 
Larry Tabb of TABB Group recently discussed with WS&T senior editor Melanie Rodier how firms are adapting their data management processes to the post-financial-crisis environment.
Peregrine Financial's ex-CEO's ex-Wife Sued Over Divorce Money
News  |  1/28/2013  | 
Some of the more than $100 million Peregrine Financial's former chief executive stole from his brokerage's clients went to pay for his divorce settlement, the trustee of the now-bankrupt brokerage said in a lawsuit late Friday against the former wife.

The Other Side Of An Insider Trading Investigation
News  |  1/28/2013  | 
When the SEC suspects an organization is involved in fraud, the investigation can last for months, if not years.
The Kyte Group Goes Live with AlgoSpan
News  |  1/28/2013  | 
Futures commission merchant The Kite Group is tapping AlgoSpan for low-latency infrastructure and access to European exchanges/MTFs, to meet the demands of HFT clients and hedge funds.
IT Job Prospects Looking Good for Finance Tech Pros
Commentary  |  1/25/2013  | 
IT workers have reasons to be optimistic about their careers, after two reports say salaries are increasing and technologists are in high demand.
Does The SEC Really Need Mary Jo White?
News  |  1/25/2013  | 
Some observers have serious reservations about the former John Gotti prosecutor.
What Does the Sale of Eze Castle, RealTick OMS/EMS Platforms Mean for the Buy Side?
News  |  1/25/2013  | 
In spinoff from ConvergEx, Eze Castle OMS and RealTick EMS will soon have a new financial backer, TPG Capital, focused on software. Will this impact buy side clients?
When Wall Street Meets Antitrust Enforcers
News  |  1/25/2013  | 
Antitrust enforcers are increasingly scrutinizing the world's major banks.
Whitman Capital Founder Gets Two Years for Insider Trades
News  |  1/25/2013  | 
Hedge fund manager Doug Whitman was sentenced to two years in prison after he became the first defendant in a broad U.S. crackdown on insider trading to take the stand to convince jurors of his innocence.
Financial Industry Is Massively Underprepared for OTC Regulation
News  |  1/24/2013  | 
Meanwhile, 95 percent of firms said they are already trading swaps or other OTC derivatives.
Obama to Tap Former Federal Prosecutor to Head SEC
News  |  1/24/2013  | 
President Barack Obama will nominate former federal prosecutor Mary Jo White to head the SEC.
The Great Rotation: A Flight to Equities in 2013?
News  |  1/24/2013  | 
One of the big investment shifts of our day may be at hand - regardless of how global markets actually perform this year.
Banks Try to Put Past Sins Behind Them at Davos
News  |  1/24/2013  | 
Leaders of the world's largest banks have gone some way to persuading investors that their industry's near-death experience is over, even though the public still don't trust them.
Financial Firms To Recruit More Risk and Tech Talent
News  |  1/23/2013  | 
Across the financial sector, the mood at the water cooler has improved, according to the latest survey from eFinancialCareers.
Peregrine Financial Fraud Loss Exceeds $200 Mln
News  |  1/23/2013  | 
Peregrine Financial Group's former chief executive embezzled more than $215 million from customers of his now-defunct futures brokerage, U.S. prosecutors said in court documents filed on Tuesday.

Stanford ex-CFO Davis Gets 5-Year Prison Sentence
News  |  1/23/2013  | 
James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced to 5 years in prison for his role in a $7 billion Ponzi scheme.

Peregrine Financial Fraud Loss Exceeds $200 Million: U.S. Prosecutors
News  |  1/23/2013  | 
Peregrine Financial Group's former chief executive embezzled more than $215 million from customers of his now-defunct futures brokerage, U.S. prosecutors said in court documents filed on Tuesday.
Technologists See Biggest Salary Raise in a Decade
News  |  1/22/2013  | 
Tech professionals in seven cities in the U.S. witnessed double-digit raises.
Ex-U.S. Attorney White Eyed for Top SEC Post
News  |  1/22/2013  | 
Mary Jo White, the former U.S. attorney for the Southern District of New York, is being considered as a candidate to head up the U.S. Securities and Exchange Commission.
Geithner Allegations Beg Fed Reform
News  |  1/22/2013  | 
Allegations that Timothy Geithner, then head of the New York Federal Reserve, may have told banks ahead of time about a surprise policy move in 2007 underscores the pressing case for reform to safeguard the integrity and independence of the central bank.
FX Models Resurrected as Markets Emerge from Cisis Mode
News  |  1/22/2013  | 
Computer-driven funds are seizing on signals suggesting the herd-like "risk-on/risk-off" investment behaviour that has dominated currency trading since 2010 is fading.

The SEC Squashes Nasdaq's Algo Proposal, Citing Competitive Issues with Brokers
News  |  1/18/2013  | 
A proposal by Nasdaq OMX to offer benchmark order that are similar to algorithms offered by brokers, raised regulatory, risk and competitive issues at the SEC.
New Head of SEC: Cross-Border Swaps Plan At Top Of Agenda
News  |  1/18/2013  | 
The new head of the U.S. Securities and Exchange Commission unveiled some of her top agenda items on Friday, saying the agency will focus how to apply new swaps rules overseas and capital-raising reforms.

E*Trade Names Former Barclays Exec Idzik as CEO
News  |  1/18/2013  | 
E*Trade Financial Corp, the online brokerage firm that has been struggling to overcome years of lending losses, appointed Paul Idzik as its new chief executive on Thursday.

Libor Probe May Further Shrink RBS Investment Bank
News  |  1/18/2013  | 
Royal Bank of Scotland will face pressure to further shrink its investment bank should an investigation into interest rate rigging show cultural failings persist in the business, political and industry sources have said.

Morgan Stanley Pay Ratio in Institutional Securities Drops
News  |  1/18/2013  | 
Morgan Stanley set aside 44 percent of adjusted revenue in its institutional securities business for compensation last year, down from 53 percent in 2011, Chief Financial Officer Ruth Porat said in an interview on Friday.

Q&A: Deutsche Bank Advises What To Do When Your Algo Fails a Risk Check
News  |  1/18/2013  | 
Deutsche Bank’s director, and head of algorithmic execution for listed derivatives and foreign exchange in the Americas, Greg Wood, recently sat down with WS&T to talk about some controversial risk measures that can safeguard the markets.
Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Slideshows  |  1/18/2013  | 
Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
As SEC Pushes for Hard Drives, Defense Lawyers Balk
News  |  1/17/2013  | 
The SEC has become more aggressive in seeking full hard drives from the companies and individuals it investigates, startling defense lawyers.
Goldman Sachs Executives Agonized Over Staff Cuts as Profits Suffered
News  |  1/17/2013  | 
Top executives at Goldman Sachs have been considering deep cuts to staffing levels and pay for at least two years, but feared too many layoffs would leave the firm unprepared.
Federal Reserve's Fisher: Reorganize Banks That Are 'Too Big To Fail'
News  |  1/17/2013  | 
Regulators should reorganize the country's largest banks to protect against the risk of institutions that are "too big to fail" and that would saddle ordinary Americans with the cost of another bailout.
Chaikin Analytics Launches iPad Workstation For Institutional Asset Managers and Advisors
News  |  1/17/2013  | 
The iPad is continuing to gain steam among finance professionals, but financial institutions that are winning the mobile game are following certain rules.
BofA Capital Markets Co-Head to Lead Commercial Banking
News  |  1/16/2013  | 
Bank of America has named capital markets co-head Alastair Borthwick as its head of commercial banking, in a shuffling of veteran executives.
Direct Edge to Seek Brazil Exchange License in 'Weeks'
News  |  1/16/2013  | 
Direct Edge Holdings plans to apply for a license to operate a Brazilian exchange in "a matter of weeks."
JPMorgan CEO Jamie Dimon's Bonus Slashed on 'Whale' Trade
News  |  1/16/2013  | 
JPMorgan Chase's board of directors cut Chief Executive Jamie Dimon's annual bonus in half.
Open Compute Project Releases Motherboard Tailored for Financial Services Firms
News  |  1/16/2013  | 
Financial services organizations could potentially reduce OPEX with a standardized, open source server motherboard specification that can be used for a variety of needs, such as HPC or storage.
JPMorgan Ordered to Improve Controls After 'Whale' Loss
News  |  1/15/2013  | 
U.S. banking regulators on Monday ordered JPMorgan Chase & Co to tighten its risk controls after the bank lost billions of dollars due to bad bets from a trader known as the "London Whale."

Peregrine Financial's Ex-CEO Faces Jan. 31 Sentencing
News  |  1/15/2013  | 
Peregrine Financial Group's former chief executive, who pleaded guilty to embezzling more than $100 million from customers of his futures brokerage, will be sentenced on Jan. 31, according to court documents filed on Monday.

SEC Settlements Reach Highest Level Since 2007
News  |  1/15/2013  | 
U.S. securities regulators reached 714 settlements with defendants in civil cases in the 2012 fiscal year - the highest number since 2007, a report released on Monday showed.

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