COVER STORYHow to Transform the SEC Into a '21st-Century Regulator'The fallout from the credit crisis and the SEC's failings surrounding Bernard Madoff's alleged $50 billion Ponzi scheme have highlighted the need for major changes at the SEC.SidebarSEC Chairman Mary Schapiro Outlines PrioritiesCharged with transforming the SEC into a '21st-century regulator,' Schapiro says, 'The crisis facing our capital markets will require aggressive and timely action.'PHOTO GALLERYNicholas-Applegate Capital ManagementWith more than $7.8 billion in assets under management, Nicholas-Applegate Capital Management's institutional clients include corporate and government retirement plans. The firm, which has operated as an autonomous subsidiary of Allianz Global Investors since 2001, offers investments in systematic equity, traditional global, and U.S. and non-U.S. income and growth strategies.ELECTRONIC MARKETPLACESVolatility Shakes Up Block TradingAmid the current market uncertainty, buy-side traders are rethinking their use of block crossing networks, instead slicing up orders to minimize the risk posed by volatile prices and leaning on the expertise of sales traders.DATA & INFRASTRUCTUREFunds of Funds Will Stress Independence and Technology to Avoid the Next Madoff ScandalAfter losing billions of dollars in Bernard Madoff's alleged fraud, funds of funds are stressing independent fund administrators and technology to perform due diligence on hedge fund investments.SidebarWhat Is a Fund Administrator?In the wake of the Madoff scandal, institutional investors increasingly are demanding that hedge funds hire third-party fund administrators to verify net asset values and trading positions.STREET CREDRethinking Market RegulationOver the years, regulators and legislators have tinkered with the markets, making it virtually impossible to raise capital, says Larry Tabb.AT THE CLOSEAlgo-Friendly Dark Pools Piece Together Block TradesBroker-owned dark pools are rolling out block trading features that compete with traditional block crossing networks. |
 Mary Schapiro, Chairman, SEC FROM THE EDITORAligning Algos to VolatilityThe pressures in the markets have been shifting, and while there's been a return of the human element, algos are finding their place too.MARKET INTELLIGENCECCA Consortium Solution: One Size Won't Fit AllA consortium of broker-dealers has been quietly working to standardize CCA administration for the buy side with a single solution, but some buy siders don't see a fit.Fidelity to Build New Midtown NY Trading Floor, HiringFidelity Capital Markets is bucking the downsizing trend by hiring staff for a new trading floor.Broker-Owned Dark Pools Grab Market ShareTraditional block crossing networks lost volume to the algo-friendly broker- and market maker-owned dark pools in 2008.Wall Street to Fight Proposed .25% Tax on Executions to Pay for BailoutTax would punish Main Street, not only Wall Street, STA says. |