Opinion
Marching to the Beat of a Different Drum
As international data vendors clamor for a slice of the Chinese marketplace, local vendors are coming under pressure to supplement low-margin strategies with value-added content and analytics, and partnerships to enable expansion throughout and beyond…
The Best Practices
EDITOR'S LETTER
Beyond Perestroika
Open Platform
Regulatory Soup
Open Platform
Law-Abiding (HFT) Citizen
Opinion
Software-as-a-Service: Enhancing Corporate Actions Efficiencies
SaaS-based solutions can be used to automate and support key business processes, including corporate actions processing, which in many ways is highly manual and, therefore, vulnerable to errors, says Fidelity ActionsXchange's Deb Culhane
Editor's Letter - We're doing very nicely, thank you
I was at a presentation fairly recently where a research company claimed that there would be a significant contraction in the number of third-party technology vendors as a result of (among other things) buy-side firms reducing their third-party…
SEC shows its hand on dark pool regulation
The US Securities and Exchange Commission has revealed more concrete proposals aimed at increasing transparency within dark liquidity venues, potentially weakening the primary value proposition dark pool providers have brought to capital markets in…
Euro market ushers in next-generation trading platforms
The financial services industry is constantly evolving the tools and capabilities to trade greater volumes faster and more efficiently, and just as we witnessed phone-based trading supersede the open outcry model, we are now seeing screen-based trading…
Enlightening the Dark Pools
It was bound to happen eventually-the U.S. Securities and Exchange Commission (SEC) has taken on dark liquidity pool reform ( see story, page 1 ). In a five-to-nothing vote, the regulator has sent a clear message to the industry that things are going to…
A Lesson in Latency from LA
Last Thursday night, seeking inspiration for my column, I had the pleasure of watching a playoff game between the New York Yankees and the Los Angeles Angels of Anaheim. In a 45-minute seventh inning, the Yankees came back from a 4-0 deficit to end the…
Time to Return to Yesteryear?
Last week, I had dinner with executives from the International Securities Exchange (ISE) and its parent, Deutsche Börse. After a long evening of interesting conversation about the unintended knock-on effects of equities regulation on the equities options…
No Comment
Commentators: in this age of real-time news, blanket video and the Internet, who needs 'em? Major news providers, apparently. In the same week that Wall Street mourned legendary dealmaker Bruce Wasserstein, two deals of note emerged to boost the…
Managing High-Frequency Risks
While commentators eagerly debate the merits of high-frequency trading, everyone agrees that high-frequency trading, like any trading activity, requires thorough risk management.
Exchanges on the Ascendant
I would like to thank everyone who attended our Best Execution 2009 event in Manhattan last week for making the conference such as roaring success. I would also like to thank our event sponsors who made the free event possible. Also, to our internal team…
A Funny Thing Happened on the Way to Reform
Thomas Peel didn't invent the police force to manage law-abiding citizens, but rather to bring criminals to justice. Thus it's hardly surprising that market participants sometimes feel uncomfortable about the role they are cast in when dealing with…
Hands Off My HFT
Rather than blaming high-frequency trading for Wall Street's woes and threatening heavy-handed reform, regulators should get with the times and consider high-frequency monitoring. By Dr. John Bates, general manager of Progress Apama
Is Wall Street Trading Theft?
Capitalism in the U.S. has taken a body blow and old socialists and newer free-economy alternatives echo the charge that Wall Street has plundered the economy. However, the maligned Wall Street trading rooms, Chicago trading pits and the exchanges still…
The Behemoth Awakens
It's a safe bet that LSE Group CEO Xavier Rolet has surprised many in the industry with the recent acquisition of exchange technology provider MillenniumIT, and now it appears that he has set his sights on multilateral trading facility (MTF) Turquoise (…
'Death Panels' for Derivatives?
I'm always wary of visiting the doctor because I worry I'll discover that I have something seriously wrong and will have to undergo a lengthy course of treatment that prevents me from getting on with other things. Likewise, Wall Street is no fan of…
Markets Need to Get It Together
Open Platform
Heads in the Clouds
Opinion