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New Year's Revolutions
After a cold and snowy Christmas and New Year, it warmed my heart to see further signs of an economic thaw in 2010-if not the green shoots of recovery, then at least the seed of new hiring initiatives creating a more fertile job market.
Happy Holidays!
Once again, we have reached the end of another year of editorial coverage of the financial IT industry and there is a strange sense of déjà vu. That friend of capitalists everywhere Karl Marx once said, "History repeats itself, first as a tragedy and…
'Twas the Night Before Christmas...
'Twas the night before Christmas, and empty was Wall Street,
Beware of Geeks Bearing Gifts
So, with less than two weeks of shopping days left until Christmas, what do you get that special market data someone? Perhaps a VoIP phone in the shape of a Star Trek communicator? A Jedi mind-control game? A new job? Or any job, for that matter? Or…
Appetite for Disruption
Many modern technologies that we take for granted start life designed for specialized purposes in niche business areas. For example, performance-enhancing features on modern road cars often have their origins in Formula One racecars, while some low…
Godzilla Tramples Philadelphia
Last week, the New York Yankees clinched the baseball World Series over the Philadelphia Phillies, thanks in no small part to the slugging of Hideki "Godzilla" Matsui-a legend in his native Japan-who drove in six runs of the Yankees' seven-run total,…
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…
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…
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…
Achieving Best Ex
There is one thing that industry participants can agree upon: The global economic recovery is not around the corner, which means best execution is more important today than ever before, especially considering the high levels of competition we are seeing…
Different Cities, Same Issues
A theme that crops up again and again, whether you're in Chicago or London, is the issue of how to address rising volumes of market data. While the US options market has been facing this problem for some time-and addressing it with innovations such as…
The Deal of the Millennium
Operators of the London Stock Exchange (LSE) left many industry watchers scratching their heads last week when they announced the planned £18 million ($30 million) purchase of Sri Lanka-headquartered exchange platform provider MillenniumIT ( see story,…
A Chance of Clouds
Watching the evolution of cloud computing, I can't help but have that nagging feeling of déjà vu as various people in the industry stake out different strategies on how to link cloud computing environments.
Keeping Us in The Loop-Literally
This week, Inside Market Data takes to the road again, this time to Chicago, home of the Cubs, the White Sox, and quite a few Bulls and Bears beyond the sports teams of the same name.
Keeping Up with the Co-Los
Low-latency data and its surrounding technologies have become big business. I hadn't realized just how big until I saw a report last week from Brazilian exchange group BM&F Bovespa showing the increases in direct market access trading, and specifically…
To Everything, Turn, Turn, Turn
If recent weeks had an oldies theme song, it would be a toss-up between "Turn! Turn! Turn!" by Pete Seeger and David Bowie's "Changes." This past week saw three acquisition announcements: NYSE Technologies' purchase of Nyfix ( see story, this issue ),…
'Dex Appeal
Though sophisticated traders might eschew investments based on indexes, current markets have prompted a flight to safety in indexes and exchange-traded funds, resulting in a frenzy of new activity in the index space. Indexes also continue to be in demand…
Patent Lather
Many great things start life as obscure documents in a patent office. Even Albert Einstein began his career as a clerk in the Bern patent office. However, you don't need to be a genius to figure out why a series of patent lawsuits filed recently in a…
The Dog Days of Summer
As an employee working in the U.S., one thing I have always envied about workers in Europe is their sane idea of closing up shop in August and going on vacation. Nothing good ever seems to sprout for firms during the hottest part of the summer. The…