The Royal Bank of Scotland is expanding its Asian equities team with new hires.
Trading Cross Connects is seeing growing co-location interest from firms in the U.S. and Europe that are looking to trade foreign exchange during Asian trading hours, said Ram Rao, director of sales and business development in the firm’s Jersey City, N.J., office.
Sen. Charles Schumer (D-N.Y.) is asking the Securities and Exchange Commission to slow down high-frequency traders during high and increasing levels of volatility or stress in the markets.
The International Securities Exchange is expanding its Minor Rule Violation Plan to incorporate violations for failing to accurately report position and account information.
Institutions are increasingly ready to embrace options as a hedge for their portfolios, concluded a TowerGroup study, “Options Investing Strategies: The Drivers and Outlook for Institutions.”
MF Global is increasing its focus on selling trading in the Asian region to firms in U.K. and Europe with a planned build out of hires in the area, said a spokeswoman.
Dark pool operators and traders are relying on algorithms providing real-time visibility into executions to eliminate or lessen the drive for dark pool reporting regulation.
Liquidnet is in the process of enhancing anti-gaming infrastructure and technology that aims to protect its members from predatory flow.
The Nasdaq OMX Phlx shot ahead of the International Securities Exchange in terms of executions last month with the widest lead all year.
Compliance officers are teaming up with their firms' information technology departments to roll out procedures to protect client data, according to WSL sister publication Compliance Reporter.
Brokerage firms are seeking to bolster their commissions by looking at the one bright spot in equities: corporate buybacks.
Nasdaq OMX Phlx said it plans to require firms that trade on its options floor to acquire and keep liability insurance.The Chicago Board Options Exchange plans to launch options series on up to 200 classes that have one- to four-day terms.
Nasdaq OMX Phlx said it plans to require firms that trade on its options floor to acquire and keep liability insurance.
Nasdaq OMX Phlx has launched a proprietary options data offering that it expects will allow subscribers to analyze the exchange’s trading data and create and test trading models and strategies.
Bank of America Merrill Lynch has hired Adarsh Sinha from Barclays Capital for a new position in foreign exchange strategy at the firm.
The Bank of New York Mellon is looking to either promote or bring a new hire on board for alternative investment services in Europe as it expands its business in the region, said Serra Balls, spokeswoman.
Global exchanges are split on whether a mandate to force trading of over-the-counter derivatives onto exchanges or execution platforms is really necessary.
Nasdaq Stock Market is hoping to make it easier for issuers to maintain their listing status by lowering one of the quantitative thresholds firms must meet.
Bloomberg Tradebook is building out the analytic services within its global agency brokerage business with new technology and hires.
The New York Stock Exchange and NYSE Amex Equities have increased the percentage of each trading day that a supplemental liquidity provider must be quoting at the national best bid or offer in order to receive a rebate.
Nasdaq OMX Phlx plans to require floor brokers to enter alphanumeric identifying information, in addition to an account number, with their orders to enhance the exchange’s audit trail.
BNY ConvergEx wants to revive an aggregated commission sharing arrangements platform for a consortium of brokers and is talking to brokerages and their buyside clients to get them on board.
Traditional exchanges would be unwise to purchase Chi-X Europe, market structure experts and industry participants tell WSL.
Alternative trading systems are likely heading toward a period of consolidationin the next 18 months, according to Tim Mahoney, ceo of BIDS Trading.
TradeStation Group plans to expand its multi-asset class trading platform to give clients access to real-time trading of all asset classes globally instead of just in the U.S., said Salomon Sredni, ceo.
The International Securities Exchange wants to launch a pilot program that would allow it to add two expiration months to a set of options.
The Chicago Board Options Exchange has called the International Securities Exchange’s complaints about CBOE’s fee structure “completely baseless” in a letter to the Securities and Exchange Commission.
TD Ameritrade just added weekly options to its thinkorswim offering earlier this month.
Nasdaq OMX BX plans to list securities outside the scope of the national market system, for the former Boston Stock Exchange since it was acquired by Nasdaq OMX Group January 2009.
Citigroup plans to make strategic hires for its sales force and its quant research analyst team to support its expansion of electronic trading in Asia.
The International Securities Exchange plans to introduce two categories of index-focused market makers.
The Chicago Board Options Exchange has opened its Hybrid Agency Liaison (HAL) auction to all trading permit holders.
This past year’s redistribution in options market share can be attributed to changes in fee structures and equity sharing agreements, according to Andy Nybo, TABB Group analyst.
brokersXpress, the broker trading arm of parent company optionsXpress, is in growth mode, planning several office openings in the coming months, said Barry Metzger, president.
Chapel Hill, N.C.,-based Carolina Capital Markets (CCM), a broker-dealer specializing in fixed income and client commission services, will launch a platform to provide clients with direct access to the firm's proprietary bond trading platform.
Nasdaq OMX Phlx is joining the ranks of the New York Stock Exchange and the Chicago Board Options Exchange by limiting the instances when brokers can make discretionary votes as part of the proxy voting process.
Morgan Stanley is building out the marketing efforts of its European technology platform to small- and mid-cap regional broker-dealers in response to the rapidly evolving market, said Brian Gallagher, head of electronic trading in Europe.
The London Stock Exchange wants to require market makers in order-driven securities to maintain their executable quotes for at least 90% of continuous trading during the trading day, a step up from the current refresh obligations.
A recent move by Lupus alpha Asset Management into a Frankfurt-based data center hosted by Interxion will support the asset manager’s high frequency trading strategies.
To get equities trading needs to get back to the basics, regulators should impose obligations on high-frequency traders following the events of May 6, according to a white paper by JonesTrading.
Boston Options Exchange ceo Tony McCormick is rejecting the International Securities Exchange’s notion that BOX’s pricing for its price improvement period (PIP) and the Chicago Board Options Exchange’s Automated Improvement Mechanism (AIM) auctions is discriminatory.
Nasdaq OMX Phlx is defining what it considers “exceptional circumstances” when it examines whether members have engaged in a pattern or practice of late trade reporting. The
Sen. Ted Kaufman (D-Del.) is asking the Securities and Exchange Commission to consider eliminating the current ban on locked markets, a change to market structure that would work against dark pools and high frequency traders, according to WSL sister publication Fund Action.
Thomas Peterffy, chairman and ceo of Interactive Brokers and a pioneer of electronic trading, is on a tear about contemplated changes in market structure
Citi plans to launch algorithms in the next few months that focus on trading small- and mid-cap stocks.
A ban on flash orders in options will reduce competition and limit the incentive for market makers to quote aggressively, the Securities Industry and Financial Markets Association's Equity Options Trading Committee said in a letter to the Securities and Exchange Commission.
ITG plans to roll out a specialized algorithm that is designed to help traders beat or get as close as possible to the firm's Price-Weighted Participation (PWP) benchmark.
Nomura Securities plans to begin allowing U.S. clients to trade non-U.S. cash equities in the fall. Following its launch clients will have access to exchanges in Tokyo, Hong Kong, London, and eventually Canada and Latin America.
Thomas Peterffy, chairman and ceo of Interactive Brokers and a pioneer of electronic trading, is on a tear about contemplated changes in market structure.
The Financial Industry Regulatory Authority has launched a bid to become keeper of the consolidated audit trail, according to WSL sister publication Compliance Reporter.
Discussions about pre-trade risk almost invariably center on naked access or high-frequency trading, often ignoring the fact that it is not simply a product of high-tech, no-touch trading techniques.
The Commodity Futures Trading Commission has taken a recommendation from the Futures Industry Association related to rules on acknowledgment letters that firms must get from depositories holding segregated customer funds.
Nasdaq OMX Phlx is looking to alter its process for calculating the range of acceptable opening quotes for its automated opening process on Phlx XL.
The International Securities Exchange plans to add an automated matching feature to its solicited order function such that members submitting orders can automatically step-up and match competing interest in a particular order.
UNX is set to offer a global equities trading platform for clients by Sept. 15, said Thomas Kim, ceo.
NorthPoint Trading Partners, a division of ConvergEx Group, is looking to add a handful of sales traders and operations staff as it works to expand, said Michael DeJarnette, president.
Jim Ross has left NYSE Euronext’s MatchPoint. Ross, the founder and ceo of the crossing network, departed last week.
The New York Stock Exchange plans to require designated market makers to publish and disseminate pre-opening indications and order imbalance information with respect to initial public offerings and transferred securities.
Bank of America Merrill Lynch and BNP Paribas are among firms that are ramping up their foreign exchange trading capabilities, extending their platforms to emerging markets and adding more research on interest rates.
Nasdaq OMX Phlx is extending the cut-off time to submit contrary exercise advices, including those for quarterly options series.