Category Archives: Regulatory Updates

Are High Frequency Traders Too Slow?

According to Bloomberg, high frequency trading is a wonderful subject for study because nobody agrees on what would make it Good or Bad. So academics and practitioners can write papers about how it is Good, or how it is Bad, … Continue reading

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U.S. Securities and Exchange Commission Plans New Website to Publish Speed Traders Data and Research

The U.S. Securities and Exchange Commission plans to unveil a public website next week that will allow it to publish data, research and analysis using the type of robust market data exploited by high-frequency trading firms. The site will share … Continue reading

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MarketWatch: Exchanges Have ‘Homework’ after SEC Meeting on Tech Glitches

According to The Tell’s Sital Patel, the Securities and Exchange Commission is asking stock exchanges to come up with a series of concrete measures to ensure that market systems are of the highest standards and ensure better communications when breakdowns … Continue reading

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REUTERS: SEC Talks on Nasdaq Failure to Focus on Backing up System

According to Reuters’ Herbert Lash and John McCrank, federal regulators and stock exchange executives are likely to focus on the stock quotes processor behind Nasdaq’s trading halt last month, but a quick resolution of system outages or market weak spots … Continue reading

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BLOOMBERG: CFTC Seeks Comment on Potential High-Speed Trading Curbs

As reported by Bloomberg’s Silla Brush, the U.S. Commodity Futures Trading Commission (CFTC) is seeking comment on whether to require registration for automated trading firms, taking a first step in potential restrictions on high-speed and algorithmic derivatives trading. CFTC members … Continue reading

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OPEN LETTER to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Dear chairman Mary Jo White, As informed by NASDAQ after the August 22 incident, price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. There was a connectivity issue, which led to degradation in the … Continue reading

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Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Knightmare on Wall Street‘s author, Edgar Perez, chastised U.S. regulators for their performance during NASDAQ’s “Flash Freeze”. Market participants appreciate visible leadership that goes beyond statements sent though press offices, he said. “Both individual and institutional investors would have felt … Continue reading

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China’s Everbright Securities Says Trading System had Problem, Shares Suspended

Major brokerage Everbright Securities Co Ltd said in a filing to the Shanghai Stock Exchange that its trading system encountered problems Friday morning, following a dramatic 5 percent spike in domestic stock indexes that many suspected was the byproduct of … Continue reading

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Open Source Code At Heart of Wall Street Programmer’s Bust

Programmers and Wall Street haters alike may join together to support a convicted computer programmer from Goldman Sachs after reading the full-throated defense he receives at Vanity Fair by noted financial journalist Michael Lewis. Lewis, the former Salomon Brothers banker known for breaking down … Continue reading

Posted in Articles, Dark Pools, Finance, High Frequency Trading, Regulatory Updates, Wall Street | Tagged , , , , , , , | 1 Comment

“Dark pools”, Private “Off-the-record” Buying and Selling of Corporate Stocks, Run Deep in Financial Markets

Richard Scamehorn writes that a Dark Pool has no formally designated name because it doesn’t exist as an entity. It only exists in the back rooms of investment bankers — notably in the largest participants, Credit Suisse Group AG, Barclays … Continue reading

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