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  • Advanced Trading. The community for innovative traders
    • Ivy's Wall

  • Asset Classes
    • Equities

      • Is it Time to Tweak, Keep or Scrap Reg NMS?
      • Australia's Economy Hitting Turbulence
      • And The Buy-Side Trading Technology Advantage Goes To....?
      More Equities
    • Derivatives

      • 60 Percent of Derivatives Users Unprepared for Dodd Frank and EMIR —Study
      • Taiwanese Bank Extends License with Fenics for FX Options System
      • Markit Launches CLO Pricing Service
      More Derivatives
    • Fixed Income

      • Europe's MTS to Launch an E-Bond Platform for U.S. Institutions as Interest Heats Up
      • Australia's Economy Hitting Turbulence
      • And The Buy-Side Trading Technology Advantage Goes To....?
      • More Fixed Income
  • Algos
    • Top Story

      Is Trading Via Microwaves Ready for Prime Time?
      As traders look for the fastest way to trade, one connectivity provider may have an answer: Sending data and trade orders via microwaves. So, what happens when it rains?
    • Algos News

      • Czech Republic's RSJ Chooses KX Systems for Algo Trading
      • Is Trading Via Microwaves Ready for Prime Time?
      • Regulators vs HFT Firms Debate: Who Blinks First?
      More Algos News
    • Quick Links

      • HFT Debate: Two Experts Square Off On Market Structure
      • Regulators vs HFT Firms Debate: Who Blinks First?
      • Nasdaq, CME Building Superfast HFT Link
      • Winton Capital’s Hedge Fund Closes Amid No Interest
  • HFT
    • Top Story

      New Columbia Business School HFT Paper Is Disappointing
      The study by Charles Jones cite the usual benefits of HFT: enhanced liquidity and more efficient markets. But what about the conflicts of interest and order types designed specifically for the benefit of high frequency players?
    • HFT News

      • HFT Firms Flood DC with Donor Dollars
      • Is Trading Via Microwaves Ready for Prime Time?
      • HFTs Chase Speed Despite Risks and Regulations
      More HFT News
    • Quick Links

      • NYSE's Makeover Attracted GETCO to Designated Market Maker Role
      • Seth Merrin Examines the Pros and Cons of High Frequency Trading
      • HFT: A Clear and Present Danger?
      • High Frequency Trading Loses Its Luster
  • Exchanges
    • Top Story

      Nasdaq Exports Market Surveillance to China
      The exchange operator said China Merchant Securites is the latest firm to use the SMARTS Broker platform to monitor illegal trading activity by their clients and traders.
    • Exchanges News

      • The Rich Past and Uncertain Future of the NYSE
      • Nasdaq OMX Launches ETF Exchange
      • Nasdaq OMX to Re-Launch PSX for Exchange Traded Products
      More Exchanges News
    • Quick Links

      • Pan-European Multilateral Trading Facilities Compete for Survival
      • The Stock Market Needs A Hockey Enforcer
      • NYSE's Makeover Attracted GETCO to Designated Market Maker Role
      • Another Technical Issue From BATS Rattles Confidence
  • Dark Pools
    • Top Story

      Pan-European Multilateral Trading Facilities Compete for Survival
      With the proliferation of alternative trading venues in Europe, industry observers expect consolidation among the new multilateral trading facilities.
    • Dark Pools News

      • ConvergEx Reduces Latency of Millennium ATS By 75%
      • Barclays Commits to Reporting Volumes of Dark Pool
      • Nasdaq OMX Launches ETF Exchange
      More Dark Pools News
    • Quick Links

      • Woodbine Report Hits Back at Dark Pool Critics
      • Are Options Dark Pools an Option?
      • The Stock Market Needs A Hockey Enforcer
      • Exchanges Fight Back Against the Dark Pools
  • EMS/OMS
    • Top Story

      Market Structure Drives the Buy Side to Seek New OMS/EMS Systems —Study
      Buy side firms need sophisticated tools to navigate the market structure as well as analytics and connectivity to alternative trading systems, but cost pressures are an obstacle to upgrading their OMS-EMS platforms, according to Greenwich Associates' study.
    • EMS/OMS News

      • TradingScreen Adds FX Functionality for Dodd Frank Compliance
      • Patent Issued to RealTick EMS for Staging of Electronic Orders
      • Linear Investments Selects TradingScreen's TradePrime
      More EMS/OMS News
    • Quick Links

      • FlexTrade Dives into Fixed Income Trading, Connecting with eSpeed
      • A New FIX for Algo Trading
      • BlackRock Acquisition of BGI Presents Integration Challenges
      • Nomura Taps Instinet as Sole Execution Services Arm In Major Restructuring
  • Data Infrastructure
    • Top Story

      Market Structure Drives the Buy Side to Seek New OMS/EMS Systems —Study
      Buy side firms need sophisticated tools to navigate the market structure as well as analytics and connectivity to alternative trading systems, but cost pressures are an obstacle to upgrading their OMS-EMS platforms, according to Greenwich Associates' study.
    • Data Infrastructure News

      • Czech Republic's RSJ Chooses KX Systems for Algo Trading
      • Barclays Commits to Reporting Volumes of Dark Pool
      • Bloomberg Taps Former IBM CEO As Privacy and Data Advisor
      More Data Infrastructure News
    • Quick Links

      • Increasing Tick Size: What Will It Do and At What Cost?
      • FlexTrade Dives into Fixed Income Trading, Connecting with eSpeed
      • The Keys to Hedge Fund Software Selection
      • Low Latency, It’s Not Just for Hedge Funds Anymore
  • Regulation
    • Top Story

      The SEC Squashes Nasdaq's Algo Proposal, Citing Competitive Issues with Brokers
      A proposal by Nasdaq OMX to offer benchmark order that are similar to algorithms offered by brokers, raised regulatory, risk and competitive issues at the SEC.
    • Regulation News

      • Prosecutors Circling, SAC Hedge Fund May Shut Down
      • The Rich Past and Uncertain Future of the NYSE
      • HFT Firms Flood DC with Donor Dollars
      More Regulation News
    • Quick Links

      • New Columbia Business School HFT Paper Is Disappointing
      • Prosecutors Circling, SAC Hedge Fund May Shut Down
      • The Stock Market Needs A Hockey Enforcer
      • Seth Merrin Examines the Pros and Cons of High Frequency Trading
  • Managing The Desk
    • Top Story

      Wall Street Access Hires Ex- Rodman & Renshaw Trading Team
      The global equities trading team migrated to Wall Street Access where they will expand the firm's offering to include market making.
    • Managing The Desk News

      • BofA Hires Caliendo to Manage Relationships with Hedge Funds
      • Prosecutors Circling, SAC Hedge Fund May Shut Down
      • Is Your Bloomberg Terminal Spying On You?
      More Managing The Desk News
    • Quick Links

      • Exclusive: Inside the GETCO Execution Services Trading Floor
      • The Keys to Hedge Fund Software Selection
      • Winton Capital’s Hedge Fund Closes Amid No Interest
      • Prosecutors Circling, SAC Hedge Fund May Shut Down
  • TCA
    • Top Story

      5 Trends Shaping the Buy-Side Trading Desk
      Among the top trends on the buy-side trading desk in 2011, the biggest development is likely to be the increased reliance on transaction cost analysis to entice institutional investors and ensure best execution.
    • TCA News

      • Monash Investors Adopts Imagine Portfolio, Risk Tools
      • Goldman Tops Global Prime Broker Rankings
      • ITG Rolls Out TCA for Institutional FX Trading
      More TCA News
    • Quick Links

      • BlackRock Acquisition of BGI Presents Integration Challenges
      • Invesco Turns to OneTick to Beef Up TCA, Alpha Generation Models
      • Does TCA Really Work for the Buy Side?
      • In the Search for Alpha, It's a Quant's World
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    Brooke Allen
    30-Year Industry VeteranBrooke Allen is a 30-year industry veteran who most recently founded a quantitative trading desk now celebrating its 17th year in continuous operation. For years he wrote a monthly piece for International Family Magazine, in 2009 he founded NoShortageOfWork.com to discuss work life, and in 2011 he created Questions For Colleges (Q4Colleges.com) to discuss issues facing higher education. Now he is beginning a series for us here on his beloved Securities Industry. Before you decide to trust him or collaborate with him, look at BrookeAllen.com where you will find his Personal Disclosure Statement.

    Articles by Brooke Allen


    • Can We Do Better? Stealing Other People's Property
      April 16, 2013
      Banks have long been creating products that are so complex that clients, risk managers and even some of the firm's own salespeople can't understand what is actually in them.
      + Comment
    • Do Our Industry's Problems Stem From Bad Parenting?
      April 01, 2013
      The problems of our industry boil down to spectacularly bad parenting.
      + Comment
    • What Need for Speed?
      March 18, 2013
      So you think our modern market has fewer opportunities for gaming? Think again. A brief history of how someone can beat you in the market.
      + Comment
    • Can We Do Better? Take the Securities Industry Objective Quiz
      March 11, 2013
      We should be honest about our true objectives.
      + Comment
    • Take It or Leave It: Is it Fair to Expect Fairness?
      March 04, 2013
      Social scientists have invented a test to determine how much you care about fairness. Read about it and then take the test.
      + Comment
    • Can We Do Better? Ethics Needs to Come Out of Hiding
      February 22, 2013
      Do you think "Ethics" should be more ingrained in every part of the business, rather than just an afterthought, or separate HR course? And should it have its own category on this site, rather than bury it?
      + Comment

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