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News & Commentary
Content tagged with Trading Technology posted in March 2012
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Former Goldman Sachs Exec Will Write Tell-All Book
Commentary  |  3/30/2012  | 
Bashing a bank can be big business, of course.
MarketAxess Research Introduces TCA for Fixed Income
News  |  3/30/2012  | 
The electronic trading platform's research arm is offering a proprietary method for analyzing and reducing transaction cost in less liquid corporate bond markets.
Senate Confirms Top FDIC, OCC Bank Regulators
News  |  3/30/2012  | 
The Senate confirmed President Obama's picks for the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC).
CFTC Told to Keep Swap Dealer Rule Narrow
News  |  3/30/2012  | 
Congressional lawmakers asked the CFTC to lenient swap dealer rules and hope to exempt hedgers.
Equinix Offers Private Cloud With A Twist
News  |  3/29/2012  | 
Highly secure, highly networked Equinix facilities in Secaucus, N.J. and Chicago let enterprise customers install their own server racks, then manage them as private infrastructure-as-a-service operations.
Top Quotes of the Week
Slideshows  |  3/29/2012  | 
What a week! Europe double dips, hedge fund managers have big egos, MF Global pleads the Fifth, and everybody is leaving Goldman Sachs. Advanced Trading gathered up the funniest and the most revealing quotes from the capital markets thought leaders. There's a lot of bad news out there, but there are some bright spots. Enjoy.
5 Things To Know About Big Data
Commentary  |  3/29/2012  | 
Google searches for 'big data' have gone up 1200% in the last 12 months, according to sources. Here's big data 101.
Tech Investment Suffers as UBS Wins Race for Top Brokers
News  |  3/29/2012  | 
UBS's American wealth management arm has focused on attracting top brokers from competitors, but investment in other areas, such as technology, might be hurt.
MF Global Exec's Ignorance, Silence Stymie Congress
News  |  3/29/2012  | 
MF Global's Assistant Treasurer Edith O'Brien refused to answer questions from Congress, frustrating lawmakers who are probing why an estimated $1.6 billion of customer money is missing.
NYSE Euronext Plans Own Futures Clearing House
News  |  3/28/2012  | 
NYSE Euronext plans to create its own clearing house for futures transactions, a move that leaves LCH.Clearnet without a key customer.
BlackBerry: From Wall Street Staple To A Relic Of The Past?
Commentary  |  3/28/2012  | 
Some analysts believe RIM's next earnings report, due Thursday, could spell the end of an era.
Are Google and Facebook Stealing Future Quant Stars?
News  |  3/28/2012  | 
Following the financial crisis, the Occupy Wall Street protests and the rise of social media companies, some worry that Wall Street has lost its ability to attract the best IT talent.
Big Data: A Little Less Conversation, A Little More Action
Commentary  |  3/28/2012  | 
While Big Data is a hot topic on Wall Street, most financial firms don't have the right systems in place to manage it and make it actionable, argues Microgen's SVP North America Tom Crawford.
Hedge Fund Trading Desks Are Just Window Dressing
Commentary  |  3/28/2012  | 
Thanks to algorithms, quants and high-frequency trading there's no need to have a fleet of trading desks. Having traders stare at screens all day is just for pumping up the ego of the hedge fund owner, says George Michaels of G2 Systems.
Meet the Next-Generation Trader
News  |  3/28/2012  | 
Thanks to electronic markets, high-speed trading and intelligent algorithms, today's buy-side trader must evolve to survive.
Goldman Sach's Gupta Loses Wiretap Ruling
News  |  3/28/2012  | 
Former Goldman Sachs Group director Rajat Gupta lost his bid to suppress wiretap evidence at his upcoming criminal trial on charges that he leaked boardroom secrets to hedge fund founder Raj Rajaratnam.
New Leaders for Goldman Sachs?
News  |  3/28/2012  | 
Senior executives within Goldman Sachs have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.
BATS Sheds Light on Software Glitch that Scuttled IPO
News  |  3/27/2012  | 
According to BATS COO, Chris Isaacson, the electronic exchange operator successfully completed the IPO auction, but had a problem transitioning to continuous trading.
BATS IPO Business Still Open
News  |  3/27/2012  | 
After a humiliating meltdown when its own initial public offering had to be withdrawn, the exchange operator will continues with its IPO listing business nevertheless.
BofA Technology Executive Speaks Out on Gay Marriage Amendment
News  |  3/27/2012  | 
Cathy Bessant, Bank of America's head of technology and operations, has taken a stand against a proposed constitutional amendment that would ban same-sex marriages and civil unions in its North Carolina, the bank's home state.
Is Wall Street IT Losing Its Luster?
News  |  3/27/2012  | 
Technology execs are jumping to other industries, including Silicon Valley start-ups, consulting firms and technology providers.
Hedge Funds See Profits After Hot Q1
News  |  3/27/2012  | 
Hedge funds are cashing in some of their chips after enjoying a bumper first quarter, wary that a sudden change in market sentiment could see them take the sort of losses suffered in last year's volatile markets.
Algo Trading, HFT Wreaking Havoc on Commodities
Commentary  |  3/27/2012  | 
Recent research showing a big jump in correlation between commodity and equity markets and among commodities themselves, over short periods from a second to an hour, has unleashed fresh bad tempered debate about whether "speculators" - especially high-frequency traders - are distorting commodity prices.
JP Morgan Launches Alternative Investment Reporting Portal
News  |  3/27/2012  | 
The launch comes on the shoulders of increased regulation coupled with expanding investor and portfolio demands for secure, real-time information, according to JP Morgan.
MF Global's Corzine Faces New Scrutiny on Customer Accounts
News  |  3/26/2012  | 
Congressional investigators released details of emails from just before MF Global's bankruptcy that renew questions about whether anyone at the failed brokerage authorized the use of customer funds to cover an overdraft in London.
BATS Sticks with Europe Technology Plan After IPO Debacle
News  |  3/26/2012  | 
BATS Global Markets is sticking with a plan to move its Chi-X platform, Europe's largest share trading venue, to its own technology, after a software bug forced the exchange operator to take the embarrassing step of pulling its own listing last week.
Getco Slapped With $450k Fine For Weak HFT Oversight
News  |  3/26/2012  | 
The firm admitted no wrongdoing, but agreed to pay a fine for a lack of oversight of high-frequency and algorithmic trading at its subsidiary Octeg.
BATS Flash Crash: Here's What Happened
Commentary  |  3/26/2012  | 
Say what you will about BATS' humiliating IPO, stock plunge and trading stop last Friday - the exchange operator is owning up to it and answering questions.
270,000 More IT Jobs Headed Offshore
News  |  3/26/2012  | 
Offshore outsourcing will continue at brisk pace for next four years, then ease up as automation replaces offshoring as a way for companies to save money, a new study says.
BATS CEO: It Is With Great Humility
Commentary  |  3/26/2012  | 
BATs CEO Joe Ratterman says it was a software glitch and in a letter to clients and investors he is now explaining to clients and the investor community what exactly happened.
Flash Crash At BATS Renews Market Concerns
News  |  3/23/2012  | 
The crash caused BATS to halt its IPO on what should have been the proudest day in the exchange's history.
Social Media Is Wall Street's Number One Enemy
Commentary  |  3/23/2012  | 
For the world-at-large, the whole point of Twitter is spontaneity. Not for Wall Street.
Is Gen Y Ready To Work At Your Hedge Fund?
News  |  3/23/2012  | 
They grew up with the Internet and handheld devices but does Generation Y have the right skills to work at your hedge fund or prop shop?
U.S. Securities Watchdog Probes High-Frequency Trading Firms
News  |  3/23/2012  | 
The U.S. securities watchdog is looking at whether some high-frequency trading firms have used their close links to computerised stock exchanges to gain an unfair advantage over other investors, the Wall Street Journal said.
Banks May Get Breathing Room on Volcker Rule
News  |  3/23/2012  | 
U.S. banks may get breathing room on the Volcker rule's looming crackdown on proprietary trading, after a Federal Reserve official pledged to ease firms into compliance.
UBS Grabs Merrill Lynch Rainmaker to Head Investment Bank
News  |  3/23/2012  | 
UBS has poached Bank of America Merrill Lynch's top European dealmaker, Andrea Orcel, to co-head its investment bank with Carsten Kengeter.
Obama Taps Dartmouth's Kim to Head World Bank
News  |  3/23/2012  | 
President Barack Obama will nominate Dartmouth College president Jim Yong Kim to lead the World Bank, a senior administration official said on Friday.
Job Market Softens for Financial Services IT Professionals
News  |  3/23/2012  | 
Job postings for financial services technology professionals drop 7 percent in first quarter, according to eFinancialCareers.com.
In the Search for Alpha, It's a Quant's World
Commentary  |  3/22/2012  | 
The complexities of the buy-side trading decision require an entirely new set of quantitative and analytical skills, says Tabb Group's Laurie Berke.
Data Breach Costs Drop
News  |  3/22/2012  | 
Better response plans, improved investigation experience, and customer fatigue from breach notifications result in lower costs overall.
Tech Talent Shortage, Or Busted Moral Compass?
News  |  3/22/2012  | 
Readers weigh in on training, internships, partnerships, and 'cut-and-paste robotic HR people.'
High-Frequency Trading Distorts Commodities Prices
News  |  3/22/2012  | 
High-frequency traders have caused U.S. commodity futures prices to disconnect from market fundamentals and have caused the markets to be subject to sudden moves and corrections.
Using Twitter To Predict Financial Markets
News  |  3/21/2012  | 
Past research has looked at the sentiment on Twitter to predict stock price, but until now little research has focused on the volume of tweets and the way tweets are linked.
Academic's Twitter Model Predicts Stock Returns
Commentary  |  3/21/2012  | 
A professor at the Unversity of California has developed a model based on discovering patterns in Twitter, suggesting that mining social media feeds can pay off.
Hartford Financial Services Looks to Sell Broker-Dealer Business
News  |  3/21/2012  | 
The Hartford Financial Services Group said it would get rid of most of its life insurance-related operations as well as pursue a sale or other options for its retirement plan and broker/dealer businesses.
Remainder of Scandal-Hit Outsourcer Satyam To Be Bought by India's Tech Mahindra
News  |  3/21/2012  | 
Tech Mahindra will become India's fifth largest software exporter by sales after buying the remaining stake of Mahindra Satyam in a stock deal valued at about $1 billion.
New ‘Corzine Rule’ For Hedge Funds Sets Tongues Wagging
Commentary  |  3/21/2012  | 
Despite widespread support for the rule, questions are being raised.
Securing the Cloud From the Outside-In
Commentary  |  3/20/2012  | 
Conducting extensive due diligence of a cloud provider’s technology, processes and track-record can help alleviate security concerns for companies looking to move into cloud computing.
Goldman Sachs Cuts Staff in Annual Review Process
News  |  3/20/2012  | 
The newest round of staff cuts at Goldman Sachs in its trading and investment banking divisions, follows last year's elimination of 2,400 jobs at the firm.
Deutsche Boerse to Sue EU Over Vetoed NYSE Deal
News  |  3/20/2012  | 
Deutsche Boerse says it will appeal the European Commission's veto of its deal to merge with NYSE Euronext in a European court in Luxembourg.
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