COVER STORY
Hard at Work: The Buy Side Rebuilds and Refocuses for a New Trading World Buy-side firms aren't waiting for the next big thing to lift the industry. They're undertaking large-scale projects to improve the trading desk and emerge from these trying times more efficient than ever. York Capital Builds a Better Mousetrap York Capital CTO Gary Maier has been hard at work on a large-scale project to upgrade the firm's portfolio management system. J.P. Morgan Asset Management Gives Traders A Break J.P. Morgan Asset Management has built an Execution Optimizer, or EO, that will further automate the trade workflow by utilizing TCA and portfolio manager profiling to generate and execute on strategies. Northern Trust Finds Success in Unity Northern Trust consolidated its trading operations in time to weather the financial crisis and streamline the trading process. INTERNATIONAL MARKETSSunGard Launches U.K. Broker To Fuel European ExpansionTargets sponsored access in European markets, DMA and clearing services to high-frequency trading firms. DIRECTORYPortfolio Risk Management ProvidersAT's latest trading tech directory profiles many of the industry's top portfolio risk management providers and their products, including details of the services offered, the risk methodologies that are supported, the asset classes that are covered and more. |
FROM THE EDITORBig Changes at Buy-side Shops, Advanced TradingMajor changes are afoot at many buy-side firms -- as well as at Advanced Trading, where Kerry Massaro has passed the torch to new top editor Cristina McEachern Gibbs. ANATOMY OF A TRADING FLOORConvergEx GroupConvergEx's midtown Manhattan trading floor is home to a cross-section of traders covering equities, options, fixed income and derivatives. ALGORITHMIC TRADINGDeutsche Bank's Marques Is Focused on Developing Smarter Algos to Access Dark LiquidityNew Deutsche Bank managing director and head of equity electronic trading Jose Marques is keeping a close eye on developments in the dark pool and DMA spaces. ConvergEx Launches Tactical Trading Algo ConvergEx Group has launched its Abraxas tactical trading algorithm, which utilizes a proprietary multi-dimensional sensitivity profile to exploit dark liquidity, favorable price movements and volatility changes. Buy Side Algo Usage, Block Trading on the Rise: Tabb Report Buy-side firms expect to route nearly 40 percent of their share volume to broker algorithms in 2010, according to a recent TABB Group study. ELECTRONIC MARKETPLACESExposing the Identity of Dark Pools in Real Time Could Hurt Institutional TradersIndustry participants question whether identifying dark pools in real-time trade reports will give too much information to high-frequency traders and gamers. LARRY TABB'S STREET CREDThe Problematic Nature of New Short Selling RestrictionsThe SEC's new rules limiting short selling do not satisfy either proponents or antagonists of short sale restrictions, writes TABB Group founder and CEO Larry Tabb. IVY SCHMERKEN'S AT THE CLOSEUncertainty Over Volcker Rule Impacts Proprietary Trading DesksWhile it is doubtful that the Volcker Rule will pass as is, it already is having an effect on banks, which are spinning off proprietary trading desks, says Editor-at-Large Ivy Schmerken. |
