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News & Commentary
Content tagged with Trading Technology posted in October 2012
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Capital Markets Outlook 2013: Innovation While Cutting Costs
News  |  10/31/2012  | 
Once again, CIOs and their IT organizations will be forced to do more with less in 2013. However, this was expected and most are finding innovative ways to slash costs while boosting productivity.
Capital Markets Outlook 2013: QA Testers and Kill Switches Wanted
News  |  10/31/2012  | 
The SEC is ramping up its rules for managing the technology risk of computerized trading on stock exchanges, including a kill switch to stop runaway algorithms.
JPMorgan Sues Former London Whale Boss
News  |  10/31/2012  | 
JPMorgan Sues Former London Whale Boss
Wall Street Scrambles to Raise Cash after Sandy
News  |  10/31/2012  | 
Wall Street firms scrambled to raise cash on Wednesday, as financial markets resumed normal trading.
Twitter Proves a Lifeline Despite Pranksters
News  |  10/31/2012  | 
Even though the NYSE was victim to a Twitter prank, as Hurricane Sandy pounded the east coast, millions of residents turned to Twitter as a hotline that hummed through the night.
Wall Street Banks Still Reeling From Hurricane Sandy
News  |  10/31/2012  | 
Two days after Hurricane Sandy wreaked havoc on the East Coast and killed 18 people in New York City, Wall Street banks and their CEOs are dealing with the damage. Here is a look at who has been affected.
Goldman Sachs Buildings In Eye of the Storm (Photos)
News  |  10/30/2012  | 
Damage in the immediate area of one of its buildings was significant.
NYSE Set To Reopen on Wednesday After Historic Battle of Wills
News  |  10/30/2012  | 
As Hurricane Sandy barreled towards the East Coast on Sunday night, NYSE Euronext was locked in a battle of wills with trading firms over whether to open at all on Monday.
NYSE to Test New Plan; Trading Floor Undamaged by Storm
News  |  10/30/2012  | 
NYSE Euronext said it plans to test a new contingency plan to help resume stalled U.S. equity trading, and added that its famed trading floor is not yet damaged by Sandy, one of the biggest storms to hit the United States.

U.S. Companies Delay Results Due to Sandy
News  |  10/30/2012  | 
Dozens of U.S. companies postponed releasing quarterly results as Sandy, one of the biggest storms to hit the United States, pounded the east coast, flooding large parts of New York City.

U.S. Companies Delay Results Due to Sandy
News  |  10/30/2012  | 
Dozens of U.S. companies postponed releasing quarterly results as Sandy, one of the biggest storms to hit the United States, pounded the east coast, flooding large parts of New York City.

NYSE to Test New Plan; Trading Floor Undamaged by Storm
News  |  10/30/2012  | 
NYSE Euronext said it plans to test a new contingency plan to help resume stalled U.S. equity trading, and added that its famed trading floor is not yet damaged by Sandy, one of the biggest storms to hit the United States.

Capital Markets Outlook 2013: Financial Transparency Gets Real
News  |  10/29/2012  | 
For Form PF, a Dodd-Frank requirement, firms must gather data from multiple sources, structure it, slice it according to how they believe the Securities and Exchange Commission will want to see the data, and file highly burdensome reports on deadline.
Is the iPad Mini Really A Game-Changer For Wall Street Execs?
News  |  10/29/2012  | 
As the iPad Mini hits stores on Friday, we look at whether Wall Street executives should upgrade their tablet.
Orc Integrates Ultra FGPA-Based Market Data Feeds from NovaSparks
News  |  10/29/2012  | 
Market makers can increase the profitability of their strategies by shifting to more consistent, high-speed feeds, contends Orc's CTO.
Cost Cutting Vs. Innovation: Dueling Priorities for Wall Street CIOs?
Commentary  |  10/29/2012  | 
Despite smaller budgets, this is the time when business leaders turn to IT for more efficiency, more productivity and, yes, innovative ideas.
FACTBOX: Wall Street's Plans for Hurricane Sandy
News  |  10/29/2012  | 
Wall Street firms were set to open with limited staffing on Monday, as stock markets remain closed ahead of Hurricane Sandy's approach and many traders in other markets as well as other financial professionals worked from home.
UBS to Cut Up to 10,000 Jobs
News  |  10/29/2012  | 
UBS is expected to cut up to 10,000 jobs, or 16 percent of its workforce, as it contends with shrinking revenue and rising capital requirements.
Facebook IPO Fallout: Citi Fined $2 Million, Fires Two Analysts
News  |  10/29/2012  | 
Citigroup fired its top Internet analyst, Mark Mahaney, and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook IPO.
Did the Ouster of Pandit Violate Securities Laws?
Commentary  |  10/26/2012  | 
The news that Vikram Pandit's voluntary resignation as chief executive was really a boardroom ouster could trigger regulatory scrutiny.
Citi Fined $2 Mln By Massachusetts Over Facebook IPO
News  |  10/26/2012  | 
Massachusetts fined Citigroup $2 million to settle charges that two bank analysts improperly released confidential information about Facebook's financials before the technology company went public.

Despite Recent Struggles, HFTs Still Have the Advantage
Commentary  |  10/26/2012  | 
Although high-frequency trading has wobbled a bit in the wake of weak U.S. equity trading volumes, industry consultant Haim Bodek argues on TabbForum that the market's structure remains tilted in their favor.
IMF's Lagarde Urges Action On Unfinished Financial Reforms
News  |  10/26/2012  | 
Unfinished financial reforms are hampering recovery in key parts of the global economy and weighing on economic growth, the head of the International Monetary Fund warned.

My Actions Were Not Fraudulent, Says UBS "Rogue Trader"
News  |  10/26/2012  | 
Accused UBS "rogue trader" Kweku Adoboli said on Friday he did not believe his behaviour had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud.

Why The U.S. Government Should Not Be Suing Bank of America
News  |  10/26/2012  | 
It's not the first time the government is targeting big banks, but it's probably not the right approach either.
Flash Crashes, Kill Switches, and 10 Million Easy Buttons
Commentary  |  10/25/2012  | 
If firms don't start to do a better job of testing software and systems, regulators may do that job for us. And then things will get really complicated.
IT Isn't Where It's At
Commentary  |  10/25/2012  | 
The big growth in tech spending is happening outside of the IT organization. That creates a challenge for companies trying to leverage technology well.
Credit Suisse to Move More IT Jobs to Poland and India
News  |  10/25/2012  | 
Credit Suisse will cut an extra 1 billion Swiss francs ($1.1 billion) of costs, including axing more jobs.
Trading the Election Results, In Real Time
News  |  10/25/2012  | 
Money managers are avidly watching the Nov. 6 presidential election, gaming out investing strategies in the event of a second term for Barack Obama or a first one for Mitt Romney.
The Evolving Role of the CDO
News  |  10/25/2012  | 
John Bottega, who has been chief data officer at Citi, the Federal Reserve Bank of New York and now Bank of America, says the role of data in the enterprise is increasing.
OMS-EMS Retool as Clients Face New Regs
News  |  10/25/2012  | 
In the face of lower volumes, OMS and EMS are seizing opportunities as buy side clients need to upgrade their systems to comply with complex regulations and trade new asset classes electronically.
Big Data: A Big Deal for Trading Floors
Commentary  |  10/24/2012  | 
Regulators are requiring financial firms to store many types of trading communications, including voice, IM, mobile SMS, and social networks putting stress on existing systems, writes Orange Business Services- Trading Solutions;s Sébastien Jaouen.
UBS To Cut Thousands of Jobs in Investment Bank, Information Technology
News  |  10/24/2012  | 
The Swiss bank has been hard hit by stricter capital rules and massive rogue trading loss.
UBS Set to Cut 400 Investment Banking Jobs
News  |  10/24/2012  | 
UBS is about to cut 400 investment banking jobs and may shed 900 more IT jobs in the near future.
Nasdaq Net Falls as Trading Volumes Decline
News  |  10/24/2012  | 
Nasdaq OMX's third-quarter profit fell 18 percent, due in part to a drop in trading volumes in U.S.
The Buy Side Wrestles with the OMS-EMS Dilemma
News  |  10/24/2012  | 
In the midst of a bad economy and lower trading volumes, the buy side balances the need to cut costs and consolidate OMS and EMS platforms, while chasing the best integrated solution.
Financial Markets Suffering from Lack of Trust
News  |  10/23/2012  | 
Speakers at the SAP Financial Services Forum say restoring the trust of investors and the public should be a top priority for the industry.
Apple Set to Unwrap Mini-iPad to Take on Amazon, Google
News  |  10/23/2012  | 
Apple Inc is expected to make its biggest product move on Tuesday since debuting the iPad two years ago, launching a smaller, cheaper tablet into a market staked out by Amazon.com Inc and Google Inc .

Gadgets Add Complexity to Brutal Bank Layoffs
News  |  10/23/2012  | 
In the high-tech, gadget-addicted world of investment banking, layoffs are becoming more complex and brutal as firms try to stop sensitive data leaving with employees.

Goldman Says 'Never Seriously' Looked at Selling Commodities Biz
News  |  10/23/2012  | 
Goldman Sachs Group Inc said on Tuesday the bank's senior management had never "seriously" looked at spinning off all or part of its commodities business, as the bank faces tougher regulations that restrict its trading.

EU Commission Backs Transaction Tax Plan
News  |  10/23/2012  | 
The European Commission threw its support on Tuesday behind a plan by 10 euro zone to use a single rule to tax transactions by financial institutions as a way of contributing to the cost of the sovereign debt crisis.

Coping with the Unintended Consequences of Dodd-Frank
Commentary  |  10/22/2012  | 
Financial firms are learning to cope with the effects of Dodd-Frank by turning their focus to IT and operations, vendor "lift outs: and variable headcount, writes SunGard' Global Service's John Avery.
Goldman Sachs Book Was Not Meant To Be an Expose
News  |  10/22/2012  | 
Greg Smith, the former Goldman Sachs vice president who resigned very publicly, said he never intended his book to be an expose of practices at the Wall Street firm.
UBS Trader Unchallenged Over 'Cosmetic' Changes to Books
News  |  10/22/2012  | 
Accused UBS fraudster Kweku Adoboli was not challenged when he told a colleague that he had made a "cosmetic adjustment" to the accounts.
The Rich Bail Out of Changing Hedge Fund Industry
News  |  10/22/2012  | 
Rich private investors are turning their backs on hedge funds because moves to attract conservative pension fund clients mean managers no longer deliver big returns.
As Black Monday Turns 25, Risk of Similar Crash Persists
Commentary  |  10/19/2012  | 
The speed and connectedness of today's buyers and sellers is so much faster, that if a crash occurred, it could be more devastating.
Cries of Abuse Grow with Use of Complex Hidden Stock Orders
News  |  10/19/2012  | 
Allegations of abuse over how a stock trade is executed may soon bring a new black eye to Wall Street or amount to little more than another warning about high-frequency trading.
FACTBOX: The 1987 Crash, By the Numbers
News  |  10/19/2012  | 
It was 25 years ago that the market experienced its worst day in history, as the Dow Jones Industrial Average slumped 22 percent.
Goldman Sachs Vs Greg Smith: Wait, Where's The Battle?
News  |  10/19/2012  | 
More details of Smith's tell-all book have emerged, just as Goldman hit back at the allegations. But is this really a battle?
HFT Players Struggle to Survive
Slideshows  |  10/19/2012  | 
High-frequency trading shops are having a difficult time in the current marketplace, as trading volumes remain extremely low. This week, Eladian closed its doors due to the weak market. Who will be next?
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