News & Commentary
Content posted in September 2011
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Multi-Million Dollar Severances Still Make It Worth It For Wall Street Execs To Get Fired
News  |  9/30/2011  | 
It certainly looks like it was worth it for executives from Bank of New York Mellon, HP and Yahoo.
Jobs Grow, But Fed Is Still Down In The Dumps
Commentary  |  9/29/2011  | 
The recession was officially over in June 2009, but the Fed isn't painting a rosy picture.
Severe Blow For Madoff Trustee Attempting To Recover Billions For Victims
News  |  9/29/2011  | 
Federal Judge Rakoff is turning into Irving Picard's arch nemesis.
Chris Christie’s Wall Street Backers May Get their Wish
Commentary  |  9/29/2011  | 
Mitt Romney appears to be Wall Street’s darling in the race for the GOP presidential nomination, but that could change if New Jersey Governor Chris Christie enters the fray.
The Devil's Derivatives: Nicholas Dunbar Breaks Down the 2008 Crash
News  |  9/29/2011  | 
After peeling back the layers of what caused the global market crash of 2008, award-winning U.K. financial journalist Nicholas Dunbar uncovers brash, alpha-male traders at the heart of the crisis
NFA to Provide Regulatory Services to GFI's SEF
News  |  9/28/2011  | 
GFI is contracting with NFA to provide regulatory and surveillance services to its swaps execution facility, as allowed by the CFTC.
Here Are The Website Features Brokerages Really Need to Focus On
News  |  9/28/2011  | 
Brokerages still need to work hard to improve their websites, according to a new survey by Corporate Insight.
SEC To Sharpen Circuit Breaker Rules
News  |  9/28/2011  | 
The U.S. Securities and Exchange Commission will strengthen the 23-year-old circuit breakers that failed to stop the acceleration of last year's flash crash.
Big Data: The Next New Thing?
Commentary  |  9/28/2011  | 
Venture capitalists are investing in "Big Data" companies with analytic platforms, but hasn't Wall Street been doing this for 20 years?
Exchanges Must Choose Between Domination or Irrelevance
Commentary  |  9/27/2011  | 
Exchanges face a stark choice: world domination or isolation. Meanwhile, local regulators must decide whether to allow their markets to play in a risky world.
EMC Consulting's Nandavanam on Colocation Trading Strategies
News  |  9/27/2011  | 
Prashanth Nandavanam, an expert on quantitative and algorithmic trading with EMC Consulting's financial services practice, recently spoke with Advanced Trading about the buy side's evolving need for low-latency connectivity.
Hedge Funds Leveraging Colocation to Take on Larger Firms
News  |  9/27/2011  | 
In today's market, hedge funds are aggressively taking advantage of colocation services to take on larger investment firms and other high-frequency players. And as anyone in real estate knows, location matters.
Analysts Deny That IT Spending Predictions Are Just A Shot In The Dark
Commentary  |  9/27/2011  | 
IT spending predictions range from $90 billion to $400 billion, but analysts argue that there is method to the madness.
Regulators Press High-Frequency Traders for Their Secret Codes
News  |  9/27/2011  | 
Industry experts say the unprecedented move is in response to rising pressure on regulators to figure out whether high-frequency trading actually provides liquidity to the marketplace or if it simply manipulates the markets.
Research Contends Stock Traders More Reckless than Psychopaths
Commentary  |  9/27/2011  | 
Could psychopathic personality traits among stock traders be a big culprit for the wild swings in stock prices that have become the norm on Wall Street?
A New Beauty Contest for Hedge Funds
News  |  9/27/2011  | 
A study by PerTrac finds that size and age matter in the performance of hedge funds where two years old and less than $100 million in AUM is key.
Jack Zaney Helps Position Wells Fargo for Growth
News  |  9/26/2011  | 
When Wells Fargo elected to adopt Wachovia's proprietary institutional retirement administration platform as a foundation for growth, Senior VP Jack Zaney made it so.
Shockwave Insulation: Technology Solutions for Uncertain Times
Commentary  |  9/26/2011  | 
Cloud-based portfolio measurement and reporting technology is key to analysis and reporting in a volatile market, writes StatPro's CEO Andrew Peddar.
Resignation of UBS Chief Quite A Turnaround
Commentary  |  9/26/2011  | 
The resignation marked a striking fall for Gruebel, a former chief executive at Credit Suisse where he was known as "Saint Ossie".
Resignation of UBS CEO Points to Damage Control
Commentary  |  9/26/2011  | 
In ongoing fallout from the UBS rogue trading scandal, CEO Oswald Grubel resigned, paving the way for new leadership.
Turquoise Derivatives Unveils FTSE Index Options
News  |  9/26/2011  | 
Turquoise, the London Stock Exchange's pan-European equity trading unit, announced the debut of FTSE index options on its derivatives platform.
Fidelity ActionsXchange Launches Subscription-Based Service
News  |  9/26/2011  | 
Allows clients to customize their choice of corporate actions data and better control costs.
Rogue-Proofing Your Fund
News  |  9/23/2011  | 
How can buy-side firms stop rogue traders before they go too rogue? The good news: Rogues can be found but the bad news is no one can ignore the problem any longer.
Thomson Reuters To Sell Kondor Unit
News  |  9/23/2011  | 
Vista Equity Partners wins bid to buy the firm's trade processing and risk management unit known as Kondor.
Deutsche Bank Exec To Head Elektron Transactions
News  |  9/23/2011  | 
In his new role at Elektron, the Deutsche Bank veteran will bring together applications, data and infrastructure to support integrated trading systems targeted at specific customer requirements.
Is the Volcker Rule on the Brink of Further Weakening?
Commentary  |  9/22/2011  | 
Under guidelines set earlier this year by the Financial Stability Oversight Council, any position taken by a bank that isn't hedged completely can be considered proprietary trading, a practice that was banned by the Volcker Rule.
Bloomberg Launches Trading Platform For Derivatives Compliance
News  |  9/22/2011  | 
The platform will help investors comply with the Dodd-Frank Act requiring companies to trade credit-default swaps and other derivatives through swap execution facilities.
Bloomberg Rolls Out Derivatives Platform
News  |  9/22/2011  | 
Bloomberg has launched ALLQ, the first commingled platform for OTC derivatives trading, which it says is the foundation for building a swap execution facility under Dodd-Frank.
EVP Peter A. Magrini Puts Thinkers to Work at Northern Trust
News  |  9/21/2011  | 
Innovation arises from thoughtfulness, argues Northern Trust's EVP of technology Peter A. Magrini, which is why he asks his staff to think and not just do.
Beyman Balances Innovation and Crisis Management at Citi
News  |  9/21/2011  | 
Citi Managing Director Jon Beyman takes crisis management to a whole new level -- without sacrificing technology innovation.
CTO Lawrence Campbell Leads Tech Charge at ISE
News  |  9/21/2011  | 
As the first all-electronic options exchange, the ISE was built on technology. Since the beginning, CTO Lawrence Campbell has been leading the charge, and along the way, he's been making friends at home and abroad.
Northern Trust Seals Outsourcing Agreement With Asset Manager RCM
News  |  9/21/2011  | 
Services to be provided under the outsourcing agreement include post-trade execution support, and data management.
State Street to Acquire Pulse Trading
News  |  9/21/2011  | 
Financial services giant snatches up Pulse's block trading and blotter sweeping technology, thereby expanding the number of execution venues open to its institutional clients.
Why Banks Don't Listen to their Risk Managers -- and Risk Losing Billions
Commentary  |  9/21/2011  | 
While details are thin, the announcement last week of an unprecedented $2 billion equity trading loss by UBS in London, and the arrest on criminal fraud charges of the alleged 31-year-old rogue trader have attracted global attention.
Wall Street Firms Prepare to License NYSE Trading Systems in the Cloud to Outsiders
News  |  9/21/2011  | 
A regulated trader, such as a Merrill Lynch or J.P. Morgan, could lease its license through the NYSE cloud infrastructure to another participant to use for a short period.
UBS Scandal Polarizes Opinions On What Went Wrong
Commentary  |  9/21/2011  | 
UBS is still giving out only a trickle of information about what actually might have happened.
NYSE Technologies Offers Real-Time Market Data And Analysis Tool In Microsoft Excel
News  |  9/20/2011  | 
Thanks to a strategic partnership, the new data analysis tool will allow traders to stream and analyze real-time normalized market data directly in Microsoft Excel 2010.
Does Insider Trading Warrant A 24-Year Prison Sentence?
News  |  9/20/2011  | 
Next week a judge will be handing down a sentence to Raj Rajaratnam, former head of the Galleon Group.
ITG Launches Algos for Mexican Equities
News  |  9/20/2011  | 
The agency broker is expanding its emerging markets platform in Latin America, citing institutional demand during a volatile period.
Spotting a Rogue Trader
News  |  9/20/2011  | 
Advanced Trading spoke with James Heinzman, managing director of Global Compliance Solutions, to discuss how firms can better detect rogue traders.
Banks Making Major Systems Enhancements to Improve Transparency, Says Survey
News  |  9/19/2011  | 
Increased use of off-the-shelf products will help banks meet regulatory reporting demands in coming years.
Meet Wall Street & Technology's Gold Book 2011 Honorees
Slideshows  |  9/19/2011  | 
Wall Street & Technology has honored four financial services technology leaders in its 2011 Gold Book.
NASDAQ Traders Get First Nanosecond Market Data Service
News  |  9/19/2011  | 
The service provides a deterministic data feed processing time of 600 nanoseconds, ten times faster than hardware accelerated approaches.
Goldman Sachs Taps Redline Trading's Inrush Ticker Plant
News  |  9/19/2011  | 
GSET will use Redline's ticker plant for delivering the NBBO data source for matching trades in its dark pool Sigma X.
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