Wells Fargo, SEC Told to Meet in Subpoena Dispute
A federal judge rejected the U.S.
Securities and Exchange Commission's demand that Wells Fargo &
Co comply with subpoenas related to a probe of the
bank's sale of $60 billion of mortgage-backed securities, but
directed both sides to meet.
FINRA Investigating Exchange-Traded Notes
The U.S. regulator that oversees the
sale of investment products to investors is investigating how
companies are marketing exchange-traded notes, a niche category
that gained some notoriety when one ETN experienced a huge loss
Equinix Offers Private Cloud With A Twist
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
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.
Institutions Failing Commodity Investors
offering commodity investments during this once-in-a-generation
demand boom are failing on two levels: they are not attracting
the money they should and they haven't realised that Asia is the
Goldman Board Discusses Split of CEO, Chairman Jobs
Half a world away from Wall
Street, the board of directors of embattled Goldman Sachs Group
Inc were meeting in India amid reports that senior
executives have talked about splitting the roles of chief
executive and chairman, both held now by Lloyd Blankfein.
Hedge Fund Trading Desks Are Just Window Dressing
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
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
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.
Are the Buy-Side Trader's Days Numbered?
As the rise of black-box trading has transformed the industry, buy-side traders have had a tough time reinventing themselves. But even in the Age of Algos, there is still plenty of value for the buy-side trader to add.
New Leaders for Goldman Sachs?
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 IPO Business Still Open
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.
Hedge Funds See Profits After Hot Q1
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
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.
BATS' Software Glitch: Bad Things Happen
After Friday's technical fiasco, BATS Global Markets was forced to withdraw the company's own I.P.O. and aplogize to its customers. But the computerized stock market shouldn't be crucified.
BATS Sticks with Europe Technology Plan After IPO Debacle
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.
BATS Flash Crash: Here's What Happened
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
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
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.
Foreign Traders Invade Grain Giants' N. American Turf
For decades, the world's leading grain traders like Cargill and Bunge enjoyed an unparalleled advantage: their smaller North American
competitors lacked the flexibility and diversity of a global
operation, and their foreign rivals lacked access to the biggest
and most stable exporters in the world.
Suffering a "Flash Crash," BATs Withdraws IPO
The debut of BATS Global Markets Exchange Inc on Friday was overshadowed by a series of blunders, including its own shares erroneously trading for less than a penny and confusing investors.