Content posted in April 2013
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And The Buy-Side Trading Technology Advantage Goes To....?
In a world where trading alpha creates a competitive advantage, trading skills and acumen may be king, but trading tools are the great enabler and equalizer.
After the Hash Crash: Worrying About the Next Glitch
After last week's Hash Crash, James Angel of Georgetown University told CNBC he's worried about the next glitch. Circuit breakers are in place, but he's not sure how they will react when the next stress hits.
Differences Between Dark and Lit Trading
Distinguishing between "dark and lit" trading venues in strategy discussions must consider the order size because small trades parsed algorithmically across venues have a different impact on information leakage than block trades.
EBS's Plan to Slow Down HFT in FX Could Influence Other Regulators
The electronic FX platform trading platform has a proposal to reduce the speed advantage of HFT players because the technology arms race has gotten out of hand.
Industry Inertia Hampers E-Trading
Institutional traders see some value in fixed income electronic trading, but a lack of a regulatory push and the desire to maintain existing business models is causing inertia in the move to electronic trading methods.
Where’s The Growth In The Electronic Bond Market?
The U.S. corporate bond market is notable for both its size and growth, but the electronic market isn’t growing as fast as some predicted.
Spreadsheet Risk – Should We Ban Excel?
Apparent errors in an influential economic study by two Harvard Professors due to an Excel spreadsheet mistake is another reminder of the operational risks inherent in relying upon formulae hidden in obscure, nestled spreadsheets.
As Regulators Eye Dark Pools, Canada is in the Spotlight
In Part II of their series, Capco consultants examine Canada’s new rules on dark pools, comparing the similarities and differences in the way that dark pools are regulated in Canada versus the United States.
Paving the Way for European Regulatory Reform: An Evolution in Electronic Fixed Income
There is no doubt that the regulatory reforms under way will change the way European market participants trade fixed income. Forward-thinking market participants should prepare for requirements relating to clearing, trade reporting, transparency, and regulation of trading venues, and certainly a move towards electronic trading.
Binary Options: The Market's Unsung Hero
Binary options can have a positive impact on a variety of markets, though they might be misunderstood by regulators.
Can Group Finance and Risk Management Get Along?
There is renewed move to integrate finance and risk data at sell-side firms for cash optimization and, equally as important, transparency. So how can you get these two groups to cooperate to achieve a unified view?
Negative Sentiment Create Headwinds for Apple
As Apple's valuation continues to slide, investors wonder if there is an upside for the technology pioneer's stock price.
Infrastructure as a Service: Ignorance is not Bliss
We asked respondents how their firm determines total cost of ownership (TCO) for their current infrastructure. Of the two-thirds who have no capability to determine TCO, my favorite response from them was, "Huh?"
Estimize's Data Licensing Deal with Bloomberg Validates Social Finance
The crowdsourced earnings estimates platform agreed to license its data for display on the respected Bloomberg Professional service, which is a sign that social finance is a growing trend.
Insider Trading Scandal at KPMG: A Belief in the Weakness of Enforcers
Accounting firms should reinvigorate their training and controls regarding insider information because this is one area where enforcement works.
Of Frogs, Boiling Water, Market Structure and Trading
The sense that inertia and incrementalism are the only approaches to solving market inertia does not necessarily have to be the case. What may be required is a systemic review of market structure itself.
When Every Penny Counts, Firms Must Operate Smarter Through Deeper Data Analysis
As financial firms go through budgets and expenses with a fine-tooth comb, they need to analyze data in an intelligent way.
Not Much Has Changed with the SEC’s New Social Media Clarifications
While firms should acknowledge the SEC's new support for new communication technologies, not much will change about how they plan to share financial performance news.
How Dark Are The Pools?
Dark pools provide an avenue for large institutional investors to trade anonymously with minimal market impact and can help operators improve pricing and reduce transaction costs for clients, but they are not exempt from regulatory concerns.
Can We Do Better? Stealing Other People's Property
Banks have long been creating products that are so complex that clients, risk managers and even some of the firm's own salespeople can't understand what is actually in them.
Once Swaps are in the Clearinghouse, the Real Work Begins
This week trueEX said it plans to launch a service to provide termination, compaction, re-balancing and backloading to CME clearing clients.
So You Want to be a Billionaire?
Founders of iBillionaire are offering a free mobile app to track the equity holdings of Warren Buffet and hedge titans like David Tepper based pulling data from their SEC filings. But, is this misleading the masses?
The Pursuit of Happiness on Wall Street
Material rewards may not be the best way to improve employee satisfaction; helping employees fulfill their goals to lead engaged and interconnected lives will yield better results long-term.
Peru and Turkey: The New Emerging Markets
While the US housing market slowly improves, Peru's construction industry is accelerating and growing at 18 percent.
David Stockman’s Rant on the Bubble Machine: Should You Ignore it?
Former Reagan budget director David Stockman blasts the Federal Reserve for being a bubble machine that has enriched speculators and Wall Street with its zero-interest rate policies, while doing nothing for Main Street, in an interview with Charlie Rose on Bloomberg TV.
SEC Loosens Social Media Stance: Beware of CEO Tweets at 2 AM
The SEC’s decision to allow public companies to share data on social media networks such as Facebook and Twitter raises implications for investors and traders.
3 Steps to Better Risk Management Through Organizational Design
Breaking down Information silos, closing the distance gap between managers and employees and avoiding the use of technical jargon are three ways to structure an effective risk organization.
Motivating Traders to Think Beyond Themselves
Banks need to make traders more aware of their inter-connectedness with the lives of the people who support them in control functions, so that they think twice about the risks they take on.
Nasdaq's eSpeed Acquisition Gets Pro and Con Reactions
The exchange operator's plans to acquire the electronic trading platform for U.S. Treasury bonds and notes raised concerns with analysts at credit rating agencies. But the move will also diversify Nasdaq away from stocks into fixed income products.
Estimize Looks to Tap the Wisdom of the Buy Side Crowd
An Internet startup is challenging the traditional Wall Street earnings estimates model by reaching out to asset managers and hedge funds to build a buy-side consensus.
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Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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