Finding Hidden Dangers in Spreadsheets
So much valuable information on Wall Street is stored in Excel spreadsheets, it's worth keeping an eye on them to spot fraud and errors before auditors do, says Ralph Baxter, CEO of ClusterSeven.
How Prosecutors Wiretap Wall Street
Hearing that the alleged Raj Rajaratnam-led insider trading ring was detected using wiretaps and that the U.S. attorney for Manhattan, Preet Bharara, plans to employ the same kind of electronic surveillance for future Wall Street investigations, we were momentarily seized with the geeky desire to know how these wiretaps are performed. Are agents sneaking into offices and homes in the middle of the night to bug phones?
Nothing Has Changed, Paul Wilmott Says
Risk models are OK, says famous researcher and quant who predicted the subprime crisis, but they need to be paired with common sense rather than a sheep-like mentality.
The Case for Insider Trading
In a story in the Wall Street Journal's weekend edition, Donald J. Boudreaux, an economics professor at George Mason University, defended insider trading as a way to make markets work more efficiently and encourage investors to diversify.
Wall Street Reacts to Executive Pay Curbs
Andrew Ross Sorkin, New York Times columns, discusses Wall Street's reaction to the Treasury and Federal Reserve's new rules that would curb pay at U.S. financial institutions.
E-Discovery: Remembering Forgotten Data
Electronic discovery is proving to be one of the most powerful tools in the corporate and legal arsenal. As corporations come to rely more heavily on e-discovery, however, some serious flaws in traditional e-discovery processes have become more and more prevalent.
What's New In Market Data?
While in the case of Canadian equities we're seeing a push to provide a consolidated data feed from all the various Canadian equity ATS and marketplaces, in the options world, traders already have the consolidated feed and want specialized, direct feeds from each venue.
Managing IT With a Long View
While many financial firms have been forced to budget and manage on a quarter-to-quarter basis during the financial crisis, successful information technology managers have been able to plan and manage with view to long term objectives.
SEC Hires Goldman Exec to Be COO of Enforcement
To be filed under WTH: the news that a Goldman Sachs executive - Adam Storch, vice president in Goldman Sachs' Business Intelligence Group - has been named the first COO of SEC enforcement.
Nomura Releases First U.S. Equity Algos
Continuing the build out of its U.S. electronic trading offerings, Nomura has released a core set of algorithms for equities as part of its global ModelEx strategies.