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News & Commentary
Content tagged with Trading Technology posted in April 2012
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Rogue Trader Kerviel Accuses SocGen of Forgery
News  |  4/30/2012  | 
Former Societe Generale trader Jerome Kerviel says six hours of interviews were cut from evidence and plans to sue his former employer for forgery and manipulation of evidence.
NYSE Hit by Weak Trading and Failed Deutsche Boerse Deal
News  |  4/30/2012  | 
NYSE Euronext's profits fell by 44 percent to $87 million in the first quarter due to a slowdown in trading and costs from its failed merger with Deutsche Boerse.
Big Isn't Bad, U.S. Banks Tell Fed
News  |  4/30/2012  | 
The largest U.S. banks say large banks are needed and are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that "big is bad."
SunGard's Valdi Adds Support for International Options Exchanges
News  |  4/30/2012  | 
With options trading volumes increasing, SunGard's Valdi Options Risk Manager now offers firms the ability to manage their overall position risk on options exchanges globally,
US Mortgage Funds Emerge As Housing Sways
News  |  4/30/2012  | 
The U.S housing market may still be in the doldrums, but funds that are betting on big gains in mortgage-related investments are a hot ticket this year on Wall Street.
Emerging Markets Hold Breath As EU Banks Shrink
News  |  4/30/2012  | 
LONDON, April 30 (Reuters)- From Beijing to Bucharest, emerging market policymakers are as worried as those in Brussels that the rapid contraction in western European banks' balance sheets will compound the debt crisis and further delay economic recovery.
BNY Mellon Names New CIO
News  |  4/27/2012  | 
Promotes Suresh Kumar to replace retiring John Fiore.
Credit Suisse Suffers Pay Revolt, Barclays Up Next
News  |  4/27/2012  | 
31.6 percent of Credit Suisse shareholders rejected the bank's pay plan, as investors remain angry at payouts. Barclays was braced for a similar revolt.
Investment Banks Likely to Cut More Staff
News  |  4/27/2012  | 
Investment banks globally will likely have to cut pay and also reduce staff levels by at least another 10 percent to achieve profitability targets, a report said.
Spanish Economy In 'Huge Crisis' After Credit Slash
News  |  4/27/2012  | 
Spain's sickly economy faces a "crisis of huge proportions", a minister said on Friday, as unemployment hit its highest level in almost two decades and Standard and Poor's downgraded the government's debt by two notches.
Lazard Profit Drops, Still Beats Street
News  |  4/27/2012  | 
Lazard Ltd's first-quarter earnings dropped sharply because of higher costs, but the boutique investment bank beat analyst expectations by a wide margin when excluding a previously announced charge related to severance packages.
Blankfein Sounds Off, Dow 15,000?, Taibbi on Senate’s MF Global Inquiry, and more Quotes of the Week
Slideshows  |  4/27/2012  | 
Lloyd Blankfein opens up (well, sort of), Dow 15,000, Matt Taibbi on the Senate's MF Global hearings and the increasing use of consumer devices in the enterprise, also known as Bring Your Own Device (BYOD), are some of the topics people are chattering about this week. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week. Enjoy!
In Surprise Move, Citi Promotes Executive Tied to Grubman Scandal
News  |  4/26/2012  | 
The SEC approved a request by Citigroup to promote an executive disciplined by regulators for failure to properly oversee Jack Grubman, a research analyst who issued fraudulent reports on companies, but will have to strictly monitor the executive's behavior.
Lehman Brothers Still Being Probed by SEC, Says Schapiro
News  |  4/26/2012  | 
The SEC has reviewed millions of documents and questioned all senior executives, but it is still probing Lehman Brothers more than three years after the investment bank collapsed, chairman Mary Schapiro said.
HSBC To Cut Over 2,200 UK Jobs, Targets Managers
News  |  4/26/2012  | 
HSBC is cutting more than 2,200 jobs in Britain, targeting senior and middle management roles as part of its drive to slash costs and boost profitability in the face of a changing banking landscape.
CME Group Cuts Staff, Plans 'Exit Incentive Plan'
News  |  4/26/2012  | 
CME Group, whose first-quarter profit missed Wall Street expectations, said Thursday it has cut staff and plans more slimming this year as it tries to reduce costs and shore up income.
Blankfein Opens Up On What Goldman Sachs Has Done Wrong, and Right
News  |  4/26/2012  | 
Goldman Sachs CEO Lloyd Blankfein discusses the Greg Smith resignation letter, PR practices and more.
Former Merrill, Fannie Mae Tech Chief Named NYC CIO
News  |  4/26/2012  | 
Wall Street veteran Rahul Merchant named CIO, as Mayor Bloomberg adds "innovation" to the job of the city's top tech executive.
Citadel Securities Hires Former RBS and ITG Electronic Trading Expert
News  |  4/25/2012  | 
Electronic trading veteran Anthony Huck joins Citadel Automated Trading Services and will focus on sales of the firm's algorithm suite and dark pool, Apogee.
Numerix Boosts Risk Management Offerings With New Partner
News  |  4/25/2012  | 
New regulatory demands continue to increase the need for robust and timely risk management.
Goldman Sachs CEO: We Are Not "Anti-Client."
Commentary  |  4/25/2012  | 
In a rare interview, embattled Goldman Sachs CEO Lloyd Blankfein defends his firm after a public relations nightmare.
Half of Hedge Funds Skittish on 2012: Survey
News  |  4/25/2012  | 
Roughly 48 percent of hedge fund managers surveyed indicated that 2012 will be a difficult year for the sector, with nearly 40 percent expressing concern that the U.S. could enter a 'double-dip' recession.
ITG Rolls Out TCA for Institutional FX Trading
News  |  4/25/2012  | 
The firm said the platform will help the buy side trade improve their executions in one of the least transparent asset classes.
The Center of the Financial Crisis, Four Years Later
News  |  4/25/2012  | 
The geographical center of the financial system is no longer Wall Street. Despite that shift, not much else has changed for the big banks.
Banks May Not Be Able to Resist 'Bring Your Own Device'
News  |  4/25/2012  | 
User-friendly consumer devices, such as Apple's iPad, are infiltrating the enterprise and transforming workforce expectations. Despite security concerns, employee demands and the productivity gains are forcing banks to embrace BYOD.
6 Must-Have Skills For Aspiring CIOs
News  |  4/25/2012  | 
Not everybody is cut out to be a CIO. Consider these six elements that help shape a successful chief information officer.
Connecticut Hedge Fund Manager Found Dead in NC
News  |  4/24/2012  | 
Money manager B. Robert Williamson Jr., the nephew of Wall Street investment guru Julian Robertson, was found dead on Sunday in North Carolina, in water surrounding an island.
Thomson Reuters Launches Elektron in Brazil
News  |  4/24/2012  | 
Interest in Brazil has increased rapidly in recent years, driving market liquidity and seeing an expanding number of domestic and international firms adopting algorithmic trading.
A New E.F. Hutton Hopes People Will Listen
News  |  4/24/2012  | 
Former executives of famed brokerage E.F. Hutton & Co. are launching a boutique investment advisory firm that revives the old name.
Former Calpers CEOS Charged With Fraud Scheme by SEC
News  |  4/24/2012  | 
The SEC says Calpers ex-CEO and an ex-board member fabricated documents that allegedly defrauded a firm of $20 million in placement fees.
Bitran Father and Son Pay $4.8M SEC Fine, Leave Securities Industry
Commentary  |  4/24/2012  | 
The once heralded father and son hedge fund GMB Capital Management admit no wrong-doing in feeding Bernard Madoff and faking their profits.
Celoxica Launches Feed Handlers For Two European Cash Markets
News  |  4/24/2012  | 
Expanding its hardware-accelerated feed handlers, Celoxica will support NYSE Euronext and Xetra cash equity markets, and plans to support the Chi-X user migration to the BATS Europe tech platform.
BATS Software Bug Stings Strategy
News  |  4/24/2012  | 
The market's confidence in financial institutions is low enough without being exacerbated by completely avoidable mistakes.
Citi Shows That You Too Should Decide If Your Boss Is Getting Paid Too Much
Commentary  |  4/23/2012  | 
Vikram Pandit's $15 million pay package has come under fire.
Penny Stock Picking Robot A Fraud, Says SEC
News  |  4/23/2012  | 
More than 75,000 investors were defrauded by a pair of teenage British twins who claimed their stock-picking robot could unearth penny stocks ready to soar, the SEC said.
Shrink-Wrapped Hedge Fund Administration Solution Launched by eClerx
News  |  4/23/2012  | 
With TotalHedge3, hedge fund managers can now build an integrated operations solution that can better sustain economic and market fluctuations.
BTIG's Commissions for Charity Day Raises $4.5M
News  |  4/23/2012  | 
The brokerage's 10th Annual money drive will support research for Parkinson's, autism and several children's hospitals.
Electronic Trading Blooms in Latin America
Commentary  |  4/23/2012  | 
Brazil, Mexico and Chile have made significant investments in their exchange technology to provide lower latency and higher throughput execution for their participants.
Hedge Fund Manager Sentenced for Ponzi Scheme
News  |  4/20/2012  | 
Hedge fund manager Brian Kim was sentenced on Friday in New York state court to up to 15 years in prison, a month after pleading guilty to running a $6 million Ponzi scheme.
Why Data Visualization For Your Emails Can Boost Your Search For Alpha
Commentary  |  4/20/2012  | 
New research from the UK suggests data visualization should move beyond the trading desk to your inbox.
Goldman Sachs Facing a New Insider Trading Probe
News  |  4/20/2012  | 
Federal prosecutors in California are investigating a current Goldman Sachs employee for insider trading, with a possible link to the Rajaratnam scandal.
OptionsXpress Charged in Second SEC Case
News  |  4/20/2012  | 
For the second time this week Securities regulators charged an affiliate of online brokerage optionsXpress with a violation, this time for breaking rules that it must be a registered dealer to engage in trading.
Eyeing the SEC, Hedge Funds Shore Up IT
News  |  4/20/2012  | 
According to an Omgeo survey, hedge funds are addressing the demands of the SEC and other regulators.
High-Frequency Trader Optiver Pays $14 Mln in Oil Manipulation Case
News  |  4/20/2012  | 
U.S. regulators claimed their first victory in a four-year old effort to crack down on oil market manipulation on Thursday, announcing a $14 million settlement with high-frequency trading firm Optiver.
BlackRock Warns Banks, Is Big Data Overrated?, and more Quotes of the Week
Slideshows  |  4/20/2012  | 
Too-big-to-fail, finding the best price, big data and off-exchange trading dominated some of the chatter this week. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week. Enjoy!
Fire Up Your iPad, Build Your Own Algo
News  |  4/19/2012  | 
UBS QUOD Studio lets you build 'unique, advanced' algorithms that are 'tested for execution quality by quantitative strategists' on your Apple tablet.
DTCC and EFETnet Launch 1st Global Commodity Swaps Repository
News  |  4/19/2012  | 
Submission testing for Dodd-Frank Swap Data Repository (SDR) requirements will begin May 14.
Hedge Funds Short the Euro
Commentary  |  4/19/2012  | 
Stakeholders React to CFTC and SEC Swap Dealer Rules
News  |  4/19/2012  | 
U.S. regulators finalized rules defining a "swap dealer," giving long-awaited guidance on which firms will be subject to tough new oversight of their derivatives trades.
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