Can the Market's Systems Keep Up With Electronic Trading?
Yesterday's steep stock market plunge of 416 points sent a warning of how vulnerable the market structure is to systems glitches and data backlogs when there are unexpected volume surges and rapid sell-offs in an electronic trading environment.
As most of us know, problems began around 2 p.m. when the Dow Jones Industrial Average was already down 200 points -- in part a reaction to the sell-off in Chinese stocks, translated into concerns about the U.S. economy. I was in the car at 2:30 p.m. wh
RFA’s eHarbor Backs Up Hedge Fund E-Mail
New York-based hedge fund solutions specialist Richard Fleischman & Associates (RFA) released eHarbor, an e-mail data backup and restoration solution designed specifically with hedge funds in mind.
The Content Technology Solutions division of Dow Jones (New York) has launched a Wealth Manager Web site that aggregates news feeds and presents wealth managers with reasons for making contact with clients, the company says.
UNX Provides Access to Liquidity Sweeping Tools Via Instant Messaging
Buy-side traders that feel comfortable using instant messaging to communicate with and route order flow to the sell-side community can now use IM to sweep crossing networks and dark pools.
The cool technology comes as the result of a partnership between Pivot Solutions, the developer of IMTRADER and UNX, an agency brokerage specializing in direct-market access and algorithmic technology.
LatentZero Integrates EMS Functionality into Its Buy-Side OMS
With buy-side traders turning to faster execution management systems (EMSs) and installing them on the desktop next to their order management systems, the OMS vendors have been scrambling to provide EMS functionality.
This week, LatentZero a supplier of front-office systems for the buy-side, said it had integrated EMS functionality into its buy-side OMS. The company's OMS, Capstone Minerva, now has a fully integrated EMS trading module desig
The Cost of Doing Nothing
As margins shrink in many business lines, forward-looking financial services firms increasingly are looking to shake up the status quo to find new ways to generate revenue while reducing costs.
Exchanges Lag in IT Spending
Despite the global reinvention of securities exchanges as for-profit companies, IT spending by exchanges will continue to lag behind that of brokers and asset managers, according to research from TowerGroup
Ask the Experts: Trading
Question: Will SIFMA's request to have the SEC examine the NYSE's new market-data fees have any impact on the future fee structure(s)? What are the concerns about the proposed new market-data fee structure?
Brokerages Start Providing BlackBerrys
Slowly but slowly, brokerage firms are starting to provide wireless services to their clients, according to a report from Corporate Insight, which monitors U.S. brokerage firms' online presence.
FX Market Fragmentation
New numbers out of TABB Group (Westborough, Mass.) indicate that the foreign exchange market is following the lead of equities and becoming increasingly fragmented.
Energy-Efficient Data Centers on the Horizon
The World Economic Forum seemed to be focused solely on global warming and climate change, if you relied on the news reports from columnists attending the event, including this magazine's own coverage.
Connecting to Alternative Execution Venues
Ivy Schmerken, Wall Street & Technology
With the proliferation of alternative electronic execution venues lining up to compete with the New York Stock Exchange and The Nasdaq Stock Market, connectivity to these new liquidity pools is not a topic that gets discussed much. But this week two of the new electronic marketplaces - one an ECN, the other a stock exchange - revealed new partnerships with electronic trading platforms.
Amaranth Disaster Highlights Independent Pricing
With the saga of Amaranth's blowup unraveled in yesterday's Wall Street Journal story, the wisdom of hedge funds relying on dealers for pricing their derivatives portfolios has come into question. While everyone knows the saga of Amaranth - a hedge fund whose aggressive trader took huge positions in natural gas contracts and then lost $6 billion in one week - there are lessons to learn from this tragedy for other hedge funds and institutions