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News & Commentary
Content tagged with Trading Technology posted in June 2012
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Euro Zone Decides New Measures to End Debt Crisis
News  |  6/29/2012  | 
Euro zone leaders bolstered their crisis-fighting arsenal on Friday by giving their bailout funds more flexibility to stabilise bond markets and to directly recapitalise banks in future.
Nomura Halves CEO Pay in Bid To Close Insider Probe
News  |  6/29/2012  | 
Nomura Holdings admitted to sweeping breaches of safeguards on confidential client information and will slash top executives' pay and briefly shut an equity sales desk as Japan's largest brokerage seeks to resolve a damaging insider trading probe.
FINRA Reports $84 Mln Fiscal Year Loss
News  |  6/29/2012  | 
The Financial Industry Regulatory Authority reported an $84 million loss for its 2011 fiscal year, with weak industry revenue, trading volume and low investment returns among the factors contributing.
How RIM Murdered BlackBerry
News  |  6/29/2012  | 
RIM made a number of mistakes over the years that could now spell the end for Wall Street's formerly favorite smartphone.
Facebook IPO Leads SEC to Scrutinize Nasdaq's Systems
News  |  6/29/2012  | 
The watchdog is investigating Nasdaq's computer systems and processes related to the flawed Facebook IPO on May 18. Will the regulator demand system upgrades?
2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street
Slideshows  |  6/29/2012  | 
Specialized IT skills remain in short supply and are demanding a premium in the marketplace. Here are 10 highlights from the 2012 Salary Survey.
Peter Madoff's Guilty Plea Points to Perils of Being a Chief Compliance Officer
Commentary  |  6/28/2012  | 
Though he claimed to have no knowledge of his brother Bernard's multi-billion dollar Ponzi scheme, Peter Madoff has agreed to forfeit $143 billion and serve 10 years in prison.
JP Morgan Adds Risk Staff, As Potential Losses Spiral
News  |  6/28/2012  | 
The new hires are in the chief investment office, the unit responsible for JP Morgan’s recent well-publicized trading losses.
Nasdaq to Detail Facebook Compensation to SEC Next Week
News  |  6/28/2012  | 
Nasdaq aims to file a plan with the SEC detailing how it will compensate market makers who lost money during the botched trading debut of Facebook.
Bernard Madoff's Brother to Plead Guilty
News  |  6/28/2012  | 
Peter Madoff, the brother of imprisoned swindler Bernard Madoff, is expected to plead guilty to criminal charges on Friday.
"Big Boy" Email Nails Barclays in Libor Rate Fixing Case
News  |  6/28/2012  | 
"Done ... for you big boy," read a message sent by a Barclays banker to one of the lender's traders, who had asked him to fix a key lending rate artificially low.
Morgan Stanley Faces Facebook Fallout, Limits Damage
News  |  6/27/2012  | 
Morgan Stanley was quick to dismiss suggestions its status as the king of initial public offerings for Silicon Valley was under threat because of the botched Facebook Inc IPO last month.
Big Banks Craft 'Living Wills' in Case They Fail
News  |  6/27/2012  | 
Five of the largest US banks are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
US Charges 24 people in Massive Hacking Sting
News  |  6/27/2012  | 
Twenty-four suspected hackers have been arrested in a sting operation spanning four continents that targeted online financial fraud of stolen bank information.
Cloud Vendors Target Alternative Asset Managers, FX Clients
News  |  6/27/2012  | 
Gravitas and Portware are both launching new offerings, as the cloud continues to grow in all areas of the financial services industry.
Event-Based Traders Now Have Access to Macroeconomic Data
News  |  6/27/2012  | 
Selerity expands global coverage of macroeconomic event data in both developed and emerging markets.
Thomson Reuters Adds Psychological Analysis to Machine Readable News
News  |  6/26/2012  | 
The indices can identify optimism, gloom, stress and uncertainty, among other emotions, to support under-the-radar investment hypotheses.
Hong Kong Exchange Renews with Nasdaq OMX's Platform
News  |  6/26/2012  | 
Upgrades derivatives trading system with Nasdaq OMX's Genium-INET platform.
Credit Suisse to Make Heavy Job Cuts in European Investment Bank
News  |  6/26/2012  | 
Credit Suisse plans to cut up to one-third of senior employees in its European investment bank, as a weak economy and tighter regulation continue to erode capital raising and advisory activities.
Deutsche Bank Algo to Help Buy Side Navigate the Close
News  |  6/26/2012  | 
The investment bank beefs up its sales staff with new hires and unveils an algo that can handle significant market data volumes at the close.
Bloomberg Ups Ante In Research Market, Launches Bloomberg Industries
News  |  6/26/2012  | 
Bloomberg Industries is a real-time research platform with over 100 analysts covering as many markets.
Inside The SEC’s Tech Department
News  |  6/25/2012  | 
The Commission has long been derided for being out-of-touch and poorly staffed, but the SEC has recently been quietly shaking things up in its technology department.
Be Afraid: Some See Shades of 2008 in Euro Crisis
News  |  6/25/2012  | 
Some prominent American investors and strategists are using the words grim, serious and terrifying to describe the worsening debt crisis in the euro zone and its impact on the global economy.
BIS Backs Banking Union to Ease Euro Zone Crisis
News  |  6/25/2012  | 
Creating a banking union for the euro zone could break the fever gripping the shared currency and help put the euro on a viable long-term footing.
Would The Markets Benefit From a Mandatory Lunch Break?
News  |  6/22/2012  | 
In an interview with Advanced Trading Frank Partnoy breaks down why the markets need a mid-day breather, why flash crashes are inevitable in a complex system like the current marketplace, and why algorithms like the one Waddell & Reed used on May 6, 2010 are no longer in use.
Zeptonics Cuts Latency to Five Nanoseconds
News  |  6/22/2012  | 
An Australian trading technology startup demoed Zeptolink, a network device at SIFMA, this week that achieved latencies of about five nanoseconds, beating conventional data center switches.
Low Latency Hype, Exchanges Go On Crisis Control, Dimon Talks Back, and More
Slideshows  |  6/22/2012  | 
Experts question the ongoing latency race, exchanges focus on crisis control and Dimon faces the House Financial Services Committee. Here is what people are talking about this week.
Why Speed Traders Slow Down On Purpose
News  |  6/22/2012  | 
In his new book "Wait: The Art and Science of Delay," Frank Partnoy breaks down why even though speed is the lifeblood of a high-frequency trading operation, slowing down by a few milliseconds can mean bigger profits.
Lawmaker Seeks Advice on IPOs After Facebook Fiasco
News  |  6/22/2012  | 
A congressional committee is asking the SEC for advice about whether rules governing initial public offerings need to be changed in light of Facebook's debut last month.
Top Traders Lured to Growing Commodities Merchants
News  |  6/22/2012  | 
The landscape is changing for commodities merchants, which is encouraging them to skim the best traders off struggling hedge funds and banks.
Ex-SocGen Trader: Taking of Bank Code Not a Crime
News  |  6/22/2012  | 
U.S. appeals court judges in New York expressed reluctance to grant a defense request to toss out the conviction of a former Societe Generale trader imprisoned for stealing proprietary computer trading code belonging to the French bank.
Moody's Cuts Rating of 15 Banks, Morgan Stanley Down 2 Notches
News  |  6/22/2012  | 
The ratings agency downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities.
Twitter Double Outage Blamed On Bug
News  |  6/22/2012  | 
A double outage rocked Twitter on Thursday, as users worldwide reported significant down-time and slow service across the website and mobile applications of the microblogging platform.
Edward Jones Vision of 20,000 Brokers a Tall Order
News  |  6/21/2012  | 
Edward Jones plans to hire about 8,000 brokers and nearly double its client assets to $1 trillion by 2020.
Wells Fargo Looking to Move Some Jobs to India, Philippines
News  |  6/21/2012  | 
Wells Fargo is looking to move some jobs outside the of the U.S. as it pushes forward with a company-wide cost-cutting program.
After Facebook IPO, Exchange Focus Shifts to "Crisis Management"
Commentary  |  6/21/2012  | 
After the Facebook IPO debacle, exchanges on a SIFMA panel said there is a need for better communication and crisis management, calling for a "hotline" when they are in the heat of battle.
La Française AM and S&P Capital IQ Team Up
News  |  6/21/2012  | 
In the lead-up of the forthcoming global credit Luxembourg fund, La Française AM will leverage S&P Capital IQ's proprietary Risk-to-Price practices.
Nasdaq OMX to Launch Interest Rate Derivatives Platform
News  |  6/21/2012  | 
Partnering with LCH.Clearnet, Nasdaq OMX's London-based NLX will offer competitive execution and and clearing fees as well as margin efficiencies, says the exchange operator.
Jamie Dimon In The House
Commentary  |  6/20/2012  | 
The fawning may not have been as egregious as last week's Senate testimony but the JPMorgan CEO showed how to smooth over a hellaciously bad bet.
Invesco Deploys OneTick for Customized TCA
News  |  6/20/2012  | 
SEC Seeks Big 4 Audit Papers From China
News  |  6/20/2012  | 
The Chinese arms of all of the Big Four audit firms have been asked by U.S. regulators to turn over documents related to audits of China-based companies listed in the USA.
Dimon Says JPMorgan Was Honest With Shareholders
News  |  6/20/2012  | 
JPMorgan Chief Jamie Dimon insisted his bank was upfront with investors about its recent multibillion-dollar trading loss.
Dimon: JPMorgan Was Honest With Shareholders
News  |  6/19/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon said his bank was upfront with investors about its multibillion-dollar trading loss, even as regulators investigate whether JPMorgan disguised a dramatic rise in risk-taking.
Buy Side Really Wants Human Beings, Not Just Algos: Aite Survey
Commentary  |  6/19/2012  | 
A new study by Aite Group found that buy-side firms are not happy with the current level of service provided by their broker-dealers. Buy-side firms expect their broker-dealers to provide value-added advisory services on trading analysis and timely support for electronic executions.
Migdal Stock Exchange Services Joins the SunGard Global Network
News  |  6/19/2012  | 
The brokerage arm of Israeli investment group Migdal Capital Markets and member of the Tel-Aviv Stock Exchange now offers trading services and research on the Israeli markets.
SEC Chief Offers Regulatory Guide to JPMorgan
News  |  6/19/2012  | 
SEC Chairman Mary Schapiro will sketch a regulatory roadmap to JPMorgan Chase's recent huge trading loss, but will stop short of discussing the specifics of her agency's investigation with lawmakers.
Regulator Seen Conflicted in Nasdaq's Facebook Mess
News  |  6/19/2012  | 
It is not every day that a company bungles something so badly that it has to turn to a regulator for help to clean up its mess. But that is what Nasdaq has done following its blunders in Facebook's $16 billion IPO.
Buy-Side Really Wants Human Beings, Not Just Algos - Aite Survey
Commentary  |  6/19/2012  | 
A new study by Aite Group found that buy-side firms are not happy with the current level of service provided by their broker-dealers. Buy-side firms expect their broker-dealers to provide value-added advisory services on trading analysis and timely support for electronic executions.
Buy-Side Firms Struggle to Minimize Fee Leakage and Improve Accuracy, Says Survey
News  |  6/19/2012  | 
Nearly 50 percent of respondents highlighted ‘minimizing fee leakage and improving accuracy' as the most difficult challenge for an organization to overcome, says survey results from Bonaire Software Solutions.
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