COVER STORY
Regulatory Push for Clearing Platforms in Credit Derivatives Could Pave the Way for E-Trading
New electronic trading models are expected to emerge for credit derivatives linked to multiple central clearinghouses.
ANATOMY OF A TRADING FLOOR
Lightspeed Trading
With 35 to 40 traders in its New York headquarters, direct-access brokerage Lightspeed Trading focuses on the professional retail trader. See the technology that the firm's 2,500 traders use to execute 800,000 trades a day.
MANAGING THE DESK
As Market Volatility Continues, the Blame Game Heats Up
Regulation, the loss of specialists and electronic trading are all on the list when it comes to placing blame for recent market volatility.
Risk Management Consumes Buy-Side Traders
Amid Volatility
Even as buy-side traders look to step up their risk management efforts, ongoing market volatility continues to present a challenge.
RESEARCH WATCH
Benchmarking Trading Trends 2009: Crisis and Competition
TABB Group's latest U.S. institutional equity trading report offers insights into how the turbulent economy has affected order flow, the use of crossing networks, algorithms and block trading, and more.
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Gunter Heiland, Managing Director and Cohead of Emerging Markets Cash and CDS Trading at J.P. Morgan Asset Management
FROM THE EDITOR
Congressional Hearings Call for a 21st-Century Regulator
In an unofficial Congressional hearing, reps air their concerns over SEC's missed opportunities to identify Madoff fraud.
MARKET INTELLIGENCE
CDS Central Clearing Platforms Approved by Regulators
NYSE Euronext Liffe and CME-Citadel's CMDX receive the green light from regulators to launch centralized clearing platforms for credit default swaps.
Buy-Side Anger Over Madoff Fraud Charges
Disillusioned insiders fear Madoff's Ponzi scheme has hurt the reputation of the entire industry.
Bringing Back the Block: Goldman Launches X-Cross
Goldman pulls together liquidity for new 10:30 a.m. cross with the launch of Sigma X-Cross.
STREET CRED
We Need Industry Leadership Now
As legislators take aim at Wall Street, the industry must seize the opportunity to work with regulators to create guidelines that will benefit everyone, says Special Contributing Editor Larry Tabb.
AT THE CLOSE
Madoff Swindle Was Aided and Abetted by Lack of Due Diligence
A lack of due diligence led sophisticated investors and hedge funds to lose billions in Bernard Madoff's massive Ponzi scheme.
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