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 Phil Albinus

Profile of Phil Albinus

Contributing Editor
Member Since: 5/8/2014
Blog Posts: 440
Posts: 2

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal that analyzed the challenges of the CIO for sell side, buy side firms and exchanges. He has moderated countless briefings, webinars and industry panels. He has a Bachelor of Arts in English from the State University of New York at New Paltz and lives with his wife and three children in Ossining, NY. Follow him in Twitter at @philalbinus

Articles by Phil Albinus

Why Is Goldman Sachs Having Trading Glitches?

Even an investment powerhouse that is awash in cash, smart people, and presumed state-of-the-art IT can experience a spectacular trading error. But why are they even happening?

Moneybrawl: Michael Lewis Takes on Goldman Sachs, HFT

The author of Moneyball takes us inside how Goldman Sachs pushed to have its former top coder, Serge Aleynikov, placed in handcuffs and how the firm barely has a handle on high-frequency trading even today.

Hackers to Exchanges: You’re Next

US attorneys last week charged a Russian hacker with gaining access to the servers inside Nasdaq. For two years. The CIOs and IT staffers inside today’s exchanges now have to deal with the target on their backs.

Are Banks Pushing to Weaken Dodd-Frank?

Goldman Sachs, JPMorgan and other top investment firms have had more meetings with regulators than with reform groups. Wanna bet what they were talking about?

Document Risk: Taming the Paper Tiger

Thanks to new regulations - written more often in gray than black white - investment firms are suffering from document risk, or poorly archived documents and information. While it may not have the white-hot urgency of liquidity or credit risk, document risk is still a source of confusion for today’s firms. WST spoke with Mahesh Muthu, associate principal at eClerx, about the ways firms can stay ahead of their documentation dilemmas.

Is HFT Leveling the Playing Field?

As lawmakers look at high-frequency trading, firms continue to shave the time off of their trades. WST spoke with Azul Systems CEO Scott Sellers for his take on high frequency trading going forward. Is it still full steam ahead or are firms looking to back off?

Could MF Global’s CIO Have Stopped Jon Corzine?

Regulators are not just bringing charges against Jon Corzine for nearly driving MF Global off the cliff, they're also looking at the broken brokerage’s assistant treasurer. Both may lose their license and never trade again. What does a CIO do if they know that things are not right inside a trading firm?

Q&A: Market Surveillance Demands 20-20 Vision

Just because regulators are gaining an IT advantage in market surveillance it doesn't mean that broker-dealers can relax. If they want to avoid fines and keep their trading license, remaining vigilant against suspicious trades and compliance infractions is still Job One.

Have We Hit Peak HFT?

The number of shares traded via high-frequency trading are down and politicians want to roll out a tax to serve as a speed bump. Some are wondering if microsecond dealings are poised to fade away.

What’s Causing The Recent Exchange Outages?

Today’s stock exchanges have the best technology ever in the history of financial markets. So why are we seeing more and more stock market outages and trading glitches?

EU Dark Pools Regs Blast Buy Side

The proposed 5 percent cap on dark pool trading could have a sharp impact on asset managers who need the anonymity of unlit trading venues, say critics.

HFT Firms Flood DC with Donor Dollars

While lawmakers and regulators take a long hard look at high-frequency trading, the firms that trade near the speed of light are donating money like never before.

Is Your Bloomberg Terminal Spying On You?

After Goldman Sachs discovered that Bloomberg journos were keeping track of their viewing habits over their Bloomberg terminals, traders have some decisions to make about the company that provides their market data, trading tools, IM and more.

Nasdaq OMX Launches ETF Exchange

The market maker has recast one of its three exchanges for the trading of exchange-traded funds. Just in time as it takes on dark pools before the SEC.

Paulson Eyes New Hedge Fund for Tax Exiles

Wounded by huge losses and some staggering tax bills, Paulson eyes new fund to help other tax victims. Plus, funds attract $11B in February and the SEC seeks a hedge fund budget boost.

Nasdaq, CME Building Superfast HFT Link

High-speed traders are going to see new boost in their market information rates thanks to a straight line of microwave towers between CME’s datacenter in Illinois and Nasdaq’s in New Jersey.

Jamie Dimon Scrambles to Keep CEO-Chairman Role

Do you hear that sound coming from Wall Street? It’s the sound of JPMorgan Chase directors scrambling hard so that Jamie Dimon gets to keep both his CEO and chairman jobs for America’s largest bank.

What Will Mary Jo White’s SEC Look Like?

President Obama's choice to run the SEC has her strengths and weaknesses - but what exactly will Mary Jo White's stamp be on the embattled financial regulatory agency?

Sequester Chokes SEC, Regulator Funds

As the market burns up the DOW, the SEC and other regulators will see their budgets slashed during the sequester. What happens if the government shuts down?

Romney To Dodd-Frank: Get Ready For Repeal

The GOP candidate promised to gut the sweeping regulatory reform that President Obama signed into law. That sound you hear are the tears of joy from Wall Street.

How Are Algos Tested?

Bank of America Merrill Lynch's Dan Nachtman describes the firm's testing procedure for a new algorithm.

How to Save a Wounded Market from Rogue Algos

You couldn't ask for a better example in the Knight Capital debacle of how quickly today's fast markets can claim a victim. Will this be the last of the rogue algorithms to hit the markets?

Who Owns The Risk If A Third-Party Algo Goes Rogue?

What happens after a broker-dealer or sell-side firm's algo goes rogue? To find out who owns the risk, Advanced Trading spoke with Michael E. Kurzrok, director of equities for the market research firm Woodbine Associates.

Ask a Broker: Should I Trust Your Algos?

After Knight Capital's newest algorithm went rogue, buy side traders have to wonder about the safety and due diligence around their third-party algorithms. Advanced Trading interviewed a broker-dealer - anonymously, of course - on how traders can trust the safety of their trading formulas.

9/11 - Eleven Years On

Is this the same Wall Street that moved heaven and Earth to get back to work and trade another day?

Nomura, Insider Trading and Buying Politicians: Advanced Trading's Week in Review

Summer is over and it's time to get serious, especially on Wall Street and in Washington, D.C. This week we hear from luminaries in the financial services arena who touch on fraud, regulation and how to keep a large global investment firm from imploding. We also hear about whether an organization that represents banks in America will get involved in buying -- or rather, influencing -- politicians. As the saying goes, money goes to money.

Wait Before Using That New Algo

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.

The Risk and Transparency Tango

Today's traders are not plagued with worries about flash crashes, macroeconomics or monthly jobs reports; instead, they are focused on riding the ups and downs of the trading day to maximize their portfolios and best serve their clients.

Knight Capital's Bad Week In Tweets

Last week one of the most respected and tech-savvy investment firms unleashed a new trading algorithm that went, in a word, haywire. The news was as bad as it was unbelievable: At one point the market maker owned $7 billion in unwanted stock. Traders inside Knight Capital had to scramble to undo the damage as managers sought emergency financing to cover the resulting losses of $440 million after 45-minutes of out-of-control trading. Advanced Trading has gathered the most pointed and revealing po

After Knight's Fall, Does Your Broker Have a Kill Switch?

After a trading algorithm executed by Knight Capital went rogue and lost the market-maker roughly $400 million in a single trading day, buy side traders need to know if their broker-dealers can stop a runaway trade. Advanced Trading spoke with Michael Chin, CEO of financial services firm Mantara, which offers a kill switch for brokers and the sell side to stop trades that start to misbehave.

Momentum Trading Partners Closes Shop, Shops Around

The hedge fund brokerage that kept a lid on information leakage stopped trading yesterday and is putting itself on the market. Why? Tough market realities that are claiming other struggling brokerages.

The Funniest Sandy Weill Twitter Responses

Former Citigroup CEO and the architect of the modern mega-bank dropped a bombshell on CNBC yesterday: We should break up the big banks that are too big to fail. This statement may seem simple and sensible but consider the source: this came from the man who created these very banking behemoths. Needless to say, Twitter was abuzz comparing Sandy Weill's truth bomb to other statements no one ever expected to hear. Enjoy.

Sandy Weill: Break Up the Banks

The man who created the modern bank supermarket and shattered Glass-Steagall thinks the banks are too big and should be broken up.

Morgan Stanley's Earnings – By the Numbers

It was earnings day for the sixth largest bank in the U.S. – and it wasn’t pretty. Revenue is down though profits were up compared to the first quarter of this year.

Fidessa Updates Canadian Trading Platform

It's called - drumroll, please - Version 12.1 and the firm's trading kit has been deployed across 90 percent of Fidessa's Canadian's clients, including eight of the top ten financial institutions north of the border.

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