 Jason Lenzo, Head of Trading for Equities amd Fixed Income, Russell InvestmentsThe New Wall Street New attitudes toward risk, new best practices and a new set of regulations are just a few of the changes the industry faces. COVER SIDEBARDodd-Frank Whistleblower Provision Sparks Concerns Over Costs and False ClaimsThe number of whistleblower complaints levied against financial firms could see a sharp rise thanks to provisions tucked in the Dodd-Frank bill, former U.S. Securities and Exchange Commission officials say. ONE ON ONEQ&A with Georgetown Finance Professor James AngelIn an exclusive interview with Advanced Trading associate editor Justin Grant, Angel explains how the financial world has evolved over the past two years, touching on everything from the explosion of displayed liquidity to why thirst for risky speculative practices remains unquenched. FEATUREProprietary Trading Firms Lure Potential Spin Outs from Big BanksWith the passage of the Volcker Rule in July, independent firms are eyeing an opportunity to hire trading talent away from the large banks. INDUSTRY VOICEA Flawed Model: Relying on High Frequency Traders As Liquidity ProvidersMuch of today's HFT represents opportunistic liquidity provision, not the liquidity provision of old, making the execution of large orders challenging. |
FROM THE EDITORRegulatory Reactions to the Crisis and Moving ForwardA new era on Wall Street has dawned, including revamped regulations for OTC derivatives and proprietary trading. DATA & INFRASTRUCTUREIs the LTRS a Big Brother?The securities industry has raised significant questions and concerns about the Large Trader Reporting Rule, the latest in a series of rule changes proposed by the SEC this year to increase oversight of trading activity. MARKET INTELLIGENCEBuy-Side Use Of Algorithms Projected to Climb In 2011: Tabb ReportBuy-side use of algorithms is projected to climb next year as firms increasingly opt for self-directed trading as a way to cut costs, according to a new report by Tabb Group. Lime Brokerage Rolls Out Low-Latency Options Data From CBOE Lime Brokerage said it completed the first customer rollout of a high-speed options data feed from the Chicago Board Options Exchange (CBOE) in a joint offering with the exchange. Instinet Debuts Dark Pool for Options Trading Agency broker Instinet Inc. has announced that it launched a dark liquidity pool for U.S.-listed options. OTR Global Opens Boston Agency Desk; Turns Focus On High Touch Trading and Research OTR Globalopened a new research sales and trading desk in the heart of BostonŐs financial center, to expand its coverage of institutional asset managers through a focus on research and high touch execution services. STREET CREDRethinking Our MarketsHow do we create a market that doesn't fold under duress? AT THE CLOSERegulatory Systems: Will Their Steep Cost Outweigh Any Benefits?Will newly proposed SEC rules overwhelm the securities industry, forcing brokers to spend billions of dollars over the next three years? And will these ambitious projects come soon enough? |
