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News & Commentary
Content tagged with Trading Technology posted in August 2012
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Deutsche's Advice To Investment Banks: Cut More Staff
News  |  8/31/2012  | 
Investment banks, set to book $240 billion revenue this year, still need to cut jobs and costs to make the industry profitable, Deutsche Bank said.

Nomura to Cut Another $1 Bln of Costs in Overseas Revamp
News  |  8/31/2012  | 
Nomura Holdings Inc, Japan's largest investment bank, is cutting an additional $1 billion in costs in the second major restructuring of its loss-making overseas operations in less than a year.

Post-Knight, A Newly Risk-Averse JP Morgan Reviews Dealings With Brokerages
News  |  8/31/2012  | 
JP Morgan's move could spark other firms to do the same, an article in the Wall Street Journal suggests.
After Latest Financial Scandal, Another Regulator Set To Review Staffing Practices
News  |  8/30/2012  | 
The last 12 months have seen a host of financial scandals. Now, the NFA has ordered a review of its staff. But can it really revamp its staff?
Barclays Signals Shift From Riskier Investment Banking
News  |  8/30/2012  | 
Barclays named retail banker Antony Jenkins as chief executive on Thursday, signalling a shift from riskier investment banking as it tries to recover from the interest rate-rigging scandal that brought down his predecessor.

China Smartphone Market to Overtake U.S. in 2012
News  |  8/30/2012  | 
China will overtake the United States as the world's biggest smartphone market this year, according to research firm IDC, which expects demand to grow for lower-priced smartphones based on Google Inc's Android.
Pimco, the Quiet Giant Among Commodity Investors
News  |  8/30/2012  | 
Pimco is well-known as the world's largest bond fund. But how many people realise it is also the largest investor in commodities, with a portfolio dwarfing the more high-profile pension funds?

SEC Tech Roundtable Takes Aim at Preventing Knight Sequels
News  |  8/30/2012  | 
In the aftermath of several high-profile technological mishaps in the marketplace, the SEC's roundtable next month will seek ways to prevent costly trading mistakes, and come up with best practices for handling crises in real-time.
Asian Regulators Urge CFTC to Review Dodd-Frank Swap Rules
News  |  8/29/2012  | 
Market regulators from Australia to Singapore have asked their U.S. counterparts to review proposed rules on derivatives trading, pointing out the potential for conflict with domestic rules and the risks of systemic instability.

Citigroup Reaches $590 Mln Settlement Over CDOs
News  |  8/29/2012  | 
Citigroup Inc has reached a $590 million settlement of litigation accusing the bank of fraudulently concealing tens of billions of dollars of exposure to risky collateralized debt obligations heading into the global financial meltdown.

SEC Proposes Lifting Ad Ban on Private Stock Offers
News  |  8/29/2012  | 
U.S. securities regulators voted 4-1 on Wednesday to propose lifting a long-standing ban on general advertising for private securities offerings, a measure that some say will spur economic growth but one which critics fear could pave the way for fraud.

Gamification Gets Serious for Financial Services Compliance Training
News  |  8/29/2012  | 
True Office, a start-up that gamifies compliance training, has named former SunGard CEO and financial technology innovator Cristóbal Conde as executive chairman.
Knight Capital Appoints Three New Directors
News  |  8/28/2012  | 
Financial services company Knight Capital Group Inc said it appointed three new board members three weeks after receiving a $400 million investment from a group of firms to keep it afloat.

Knight Capital Appoints Three New Directors
News  |  8/28/2012  | 
Knight Capital has appointed three new board members, including the CEO of TD Ameritrade, three weeks after receiving a $400 million investment from a group of firms to keep it afloat.
Financial Firms Fund Lab To Promote Supercomputing For Market Regulation
News  |  8/27/2012  | 
Firms including Infinium Capital Management and AJO Partners are supporting the research.
Today's Market Structure Obscuring Real Value of Equities
Commentary  |  8/27/2012  | 
In a piece published by Tabb Forum, ConvergEx Group's Nicholas Colas says the current market structure means CEOs and their boards should no longer make their company's stock price the central fixture of their corporate strategy.
ANALYSIS: How Apple Overwhelmed Samsung's Patent Case Tactics
News  |  8/27/2012  | 
In August 2010, just a few months after Samsung launched its Galaxy smartphone, a team of Apple lawyers flew to South Korea.
Nomura to Cut Hundreds of Jobs in Equities, Investment Banking
News  |  8/27/2012  | 
Nomura is finalizing plans to cut hundreds of jobs, mainly in equities and investment banking, in an overhaul aimed at restoring its overseas operations to profitability.
Looking at the Ins and Outs of Volatility Trading: Opalesque
Commentary  |  8/27/2012  | 
In a video interview with Opalesque TV, Maple Leaf trader Michael Wexler breaks down the ins and outs of volatility trading.
Knight Capital's Rogue Algorithm a Wake-Up Call to the Buy Side
News  |  8/24/2012  | 
A head trader at a firm with more than $200 billion under management tells Advanced Trading that the buy side generally puts a lot of blind faith in the tools provided by their brokers, almost to the point of complacency.
7 Most Striking Reasons Only 2% of Pro Investors Trust The Market
Slideshows  |  8/24/2012  | 
Only 2 percent of capital markets industry professionals say they really trust market structure, according to a new survey from TABB Group. Here's how the Twittersphere explains it.
New York Fed Sells Last of its AIG Assets, Ending Ties With Firm
News  |  8/24/2012  | 
The Federal Reserve Bank of New York brought to a close another chapter in the government's taxpayer-funded bailouts of 2008 with the sale of its remaining assets of insurer American International Group, the bank said.

The SEC Fumbles a Crucial Post-Crisis Battle
News  |  8/24/2012  | 
And so we've marked a defining moment: Securities and Exchange Commission Chairman Mary Schapiro's hard-fought effort to re-regulate money market funds was the first real litmus test of the agency's approach to individual investor protection in a post-financial-crisis world.

Northern Trust's Scott Murray: A Man of Action
News  |  8/24/2012  | 
In establishing centers of excellence for IT disciplines, EVP and CTO Scott Murray is helping Northern Trust's technology organization improve quality while the bank continues to grow.
Fidelity CIO Walks In His Father's Footsteps
News  |  8/24/2012  | 
Fidelity Institutional CIO Ron DePoalo began learning about Wall Street IT from his father at an early age. Now he is drawing on those lessons to to drive tech innovation and business alignment.
Wait Before Using That New Algo
Commentary  |  8/24/2012  | 
When it comes to using new trading algorithms, the buy side resembles kids standing around the deep end of the pool. No one wants to be the first to jump in.
Nasdaq Systems Issue Impacts Short Sales, Points to Ongoing E-Trading Glitches
Commentary  |  8/23/2012  | 
This is the latest in a series of technical glitches that have eroded investor confidence in the market infrastructure.
Ex-RBS Trader Details Bank's Libor Fixing
News  |  8/23/2012  | 
A former dealer for RBS has provided fresh details on how traders at the bank tried to influence Libor rates.
Knight Capital Rescuers Let Scottrade In On Deal
News  |  8/23/2012  | 
The firms that rescued Knight Capital after its near-fatal software glitch earlier this month have sold some of their preferred stock in the firm to Scottrade.
Knight Cap Rescuers Let Scottrade In On Deal
News  |  8/23/2012  | 
Purple helicopter to the rescue.
Citigroup CEO Shows Shaky, Skewed Recollection of the Financial Crisis
News  |  8/23/2012  | 
In a speech Vikram Pandit gave this week in Singapore, he basically congratulated himself and Citigroup’s executive team on restructuring the company after the financial crisis. But that's not exactly how things went down.
Cosy World of Inter-Dealer Brokers Faces Shake-Up
News  |  8/22/2012  | 
Inter-dealer brokers, the fast-talking middlemen who match buyers and sellers of complex financial products, are under pressure to strike takeover deals as business shrinks and regulators shine a light on their murky trillion dollar markets.

trillion dollar markets.

RBS, Commerzbank Drawn into U.S. Iran Money Probe
News  |  8/22/2012  | 
U.S. authorities are investigating Royal Bank of Scotland and Commerzbank over possible breaches of sanctions on Iran, in a widening crackdown which has already cost Standard Chartered a hefty fine.

Tech Innovation -- With an Eye Toward Quality
Commentary  |  8/21/2012  | 
Even with the frequent tech failures, scathing headlines and mounting regulatory fines, technology innovation is thriving on the Street -- with an emphasis on testing and quality.
Wall Street Is Leaderless, And That Might Be Fine
News  |  8/21/2012  | 
Wall Street has lost its most vocal advocate as investigations into JP Morgan's multi-billion dollar trading lost have sidelined Jamie Dimon, a Bloomberg article reports. But does the financial industry really need another Dimon?
On CME's Move to London: Whatever You Do, Don't Mention the Merc
News  |  8/21/2012  | 
It's probably a good thing for the CME Group that the plans to set up a new European exchange bear almost no resemblance to a costly, failed effort by its New York unit to cross the Atlantic eight years ago.
Broker-Dealer Audit Problems Found in Madoff-Inspired Review
News  |  8/21/2012  | 
Nearly four years after Bernard Madoff admitted using his firm for a massive Ponzi scheme, the PCAOB says it is disturbed by problems that persist in audits of broker-dealers.
Equity Market Structure Confidence at All-Time Low
News  |  8/21/2012  | 
Only 2 percent of capital markets industry professionals indicate their market structure confidence is very high, according to survey results from TABB Group.
Battle of the Exchanges Heats Up as CME Expands Into Europe
News  |  8/20/2012  | 
CME’s announcement is a challenge to Europe's biggest derivatives trading exchanges and comes after regulators blocked Deutsche Borse's merger with NYSE Euronext.
Bonds.com Hires Industry Veteran to Head Technology
News  |  8/20/2012  | 
As interest in automated bond trading heats up on Wall Street, Bonds.com named Michael Sacks as the company's head technology for its electronic platform to grow its usage on the buy side.
UK Lawmakers Say Libor Case Shows Barclays Culture Flawed
News  |  8/20/2012  | 
Company culture at Barclays was "deeply flawed" and the Bank of England's hand in removing its chief executive Bob Diamond was hard to justify, a UK parliamentary report into the "disgraceful" rigging of Libor interest rates said.
Deutsche Bank Investigated in US Over Iran Dealings
News  |  8/20/2012  | 
Prosecutors are investigating Deutsche Bank and several other global banks over business linked to Iran, Sudan and other nations currently under international sanctions.
GOLD BOOK 2012: A Focus on Growth, Innovation and New Technology
News  |  8/20/2012  | 
The 2012 Gold Book honorees are focused on testing and getting quality products to market, while also providing innovative business solutions and great customer service.
UBS Unveils Hedge Fund Service: 'UBS Quant HQ'
Commentary  |  8/20/2012  | 
The Swiss bank will offer technology, prime brokerage and risk tools to quantitative hedge funds.
GOLD BOOK 2012: Heavy Focus on Algorithms, Less Cloud Technology Exploration
News  |  8/20/2012  | 
Despite the challenges buy-side traders face, this year's group of Quant Gold Book honorees have the drive and intelligence to reach their targets.
QUANT GOLD BOOK 2012: Quantavium Capital's Youngju Nielsen Is a Fixed Income Rock Star
News  |  8/20/2012  | 
Youngju Nielsen, co-founder of Quantavium Capital, believes there will be many changes on the horizon for fixed income trading to allow it to become a more transparent process that should attract investors and traders. As Quantavium prepares to launch in the third quarter of 2012, Nielsen talks with Advanced Trading about the firm’s use of algorithms, the cloud, broker benchmarks and more.
GOLD BOOK 2012: Newedge's Stephen Davy Is Making a Difference
News  |  8/19/2012  | 
CIO Stephen Davy is leading efforts to analyze and enhance Newedge's processing systems in order to differentiate the firm's global clearing and execution business.
GOLD BOOK 2012: Northern Trust's Scott Murray Is a Man of Action
News  |  8/19/2012  | 
In establishing centers of excellence for IT disciplines, EVP and CTO Scott Murray is helping Northern Trust's technology organization improve quality while the bank continues to grow.
GOLD BOOK 2012: Direct Edge's Saro Jahani Chooses Stability Over Speed
News  |  8/19/2012  | 
For new Direct Edge CIO Saro Jahani, stability and low latency are the pillars of IT performance, and playing in the sandbox is serious business.
Wells Fargo Raids Morgan Stanley For Advisers
News  |  8/17/2012  | 
Morgan Stanley better keep tabs on their fund managers because Well Fargo is going window shopping.
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