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?
With profits down due to lower volumes and declining volatility in U.S. stocks, high-frequency traders face growing pressure to find new markets and innovate when speed is not enough.
The market maker has recast one of its three exchanges for the trading of exchange-traded funds. Just in time as it takes on dark pools before the SEC.
In the midst of a bad economy and lower trading volumes, the buy side balances the need to cut costs and consolidate OMS and EMS platforms, while chasing the best integrated solution.
After Goldman Sachs discovered that Bloomberg journos were keeping track of their viewing habits over their Bloomberg terminals, traders have some decisions to make about the company that provides their market data, trading tools, IM and more.
One of the world’s largest hedge funds Winton Capital announced that its Henri Capital spinout will close after two years of trading due to a lack of clients.
HSBC Sets up Financial Crime Compliance UnitDecember 10, 2012HSBC has promoted a
former U.S. official who headed sanctions action against drugs
traffickers and money launderers to be its head of financial
crime compliance, a new role.
SEC Charges 8 Mutual Fund Directors Over Asset ValuationDecember 10, 2012U.S. securities regulators
charged eight former mutual fund board directors on Monday with
fraudulently overstating the value of their securities at the
brink of the housing crisis.
Goldman Sachs Fined $1.5 Million for Trading GlitchDecember 07, 2012Goldman Sachs Group Inc
was fined $1.5 million to settle charges it failed to supervise
its traders and allowing one futures dealer to hide billions in
dollars from sight and causing a $118 million loss.
Deutsche Bank Directors to Question BoardDecember 07, 2012Deutsche Bank's
directors will question the management board over claims the
lender failed to recognize billions of euros in unrealized
losses during the financial crisis, two sources said.
SEC Partially Lifts Moratorium on Actively Managed ETFDecember 07, 2012The U.S. Securities and Exchange
Commission is partially lifting an almost three-year-old
moratorium on applications for actively managed, exchange-traded
funds, creating an opportunity for fund managers to use
derivatives when they launch them.
Hedge Fund Diamondback To Shutter After Clients Pulled More CashDecember 06, 2012Hedge fund Diamondback Capital,
which became embroiled in the U.S. government's insider trading
case, has told its clients that it plans to shut down after
clients asked to pull out yet more money.
'Black Box' Hedge Funds Buy Exchange Seats to Dodge BrokersDecember 06, 2012Some of the world's top
computer-driven hedge funds are buying exchange memberships to
trade directly on the biggest commodities and financial futures
markets, saving on the sizeable commissions normally paid to
brokers.
French Banks Eye U.S. Expansion After Year of CutsDecember 05, 2012France's top banks are taking
advantage of calmer markets to return to expanding in the United
States, a year after deep cuts to their investment banks saw
them lose ground to rivals in the world's biggest financial
market.
Citigroup to Cut 11,000 Jobs, Take $1 Bln in ChargesDecember 05, 2012Citigroup Inc will eliminate 11,000
jobs worldwide, about 4 percent of its total staff, in a move to
save as much as $1.1 billion a year in expenses, the company
said on Wednesday.
Morgan Stanley Trader Was Probed at Goldman: SourcesDecember 04, 2012Morgan Stanley hired former Goldman Sachs
trader Edward Glenn Hadden to run its Treasury bond desk last
year, even though his former employer had placed the trader on
paid leave for about a year following an internal inquiry, said
three people familiar wit
Cerberus May Join Virtu Bid for Knight Capital: ReportDecember 04, 2012Cerberus Capital Management LP is in talks
to join Virtu Financial LLC's bid for U.S. brokerage Knight
Capital Group Inc, the Wall Street Journal reported,
citing people familiar with the discussions.
Credit Suisse Boss On Borrowed Time: SourcesDecember 03, 2012Credit Suisse boss Brady
Dougan has outmaneuvered an internal rival with his recent
revamp of the Swiss bank and management shake-up but is still on
borrowed time, senior banking sources say.
Proliferation of CSAs Causes Headaches for Brokers, Buy Side — Greenwich, FrostNovember 30, 2012An estimated 82 percent of U.S. asset managers surveyed by Greenwich Assoc. use CSAs for efficiency and transparency, but the trend is leading to a reduction in execution payments to smaller broker dealers and administrative headaches to buy side.
Key Debt Limit Options, Dates for U.S. TreasuryNovember 30, 2012President Barack Obama and
his Democrats are insisting that an increase in the $16.4
trillion U.S. debt limit be part of any deal to avert the
"fiscal cliff" of year-end tax hikes and automatic spending
cuts.
Investors Swarm into Stock ETFs Amid "Fiscal Cliff" Hopes—LipperNovember 30, 2012Investors in U.S.-based
funds have pumped the most new money into stock exchange-traded
funds since mid-September, while adding to bond funds amid
growing optimism U.S. lawmakers will avoid the looming "fiscal
cliff" of tax hikes and spending cuts.
Da
How A Desperate HP Suspended Disbelief for Autonomy DealNovember 30, 2012For Leo
Apotheker, the former Hewlett-Packard CEO, a July 2011
meeting with Autonomy founder Mike Lynch at a chic seaside
resort in France was pivotal to his effort to remake a storied
technology giant.
At White House, CEOs Offer Support for Higher Tax RatesNovember 29, 2012Chief executives from
corporations such as Goldman Sachs and Deloitte LLP met
with President Barack Obama on Wednesday and offered support for
resolving U.S. fiscal problems with an approach that included
higher tax rates for wealthy Americans.
Fidelity Pushes BNY Mellon for Better FX PricingNovember 29, 2012Fidelity Investments is pushing
BNY Mellon Corp and other custody banks for stricter
pricing on certain foreign currency trades, the latest sign of
how big investment managers are using the same tactics as public
pension funds to cut expenses.
CME Says No Plans to Shut Grains Floor TradingNovember 28, 2012The CME Group, the
biggest operator of U.S. futures exchanges, has no plans to shut
open-outcry trading pits but will not change new price
settlement rules for grains despite a lawsuit by a group of
traders, its CEO said on Wednesday.
Basel Committee Won't Delay Jan. 1 Rules Implementation — HeadNovember 27, 2012The introduction of stricter
capital rules for banks will go ahead as planned on Jan. 1, the
head of the Basel Committee at the Bank of International
Settlements told Reuters on Tuesday.
Intrade Cuts Out US Customers After Regulatory SuitNovember 27, 2012Prediction market Intrade,
which allows spectators to bet on subjects ranging from
entertainment to elections, said on Monday it will no longer
accept U.S. customers because of what it called legal and
regulatory pressures.
