Traders back issues from July 2009:
Bring It On.(Letter From The Editor)
Jul 01, 2009 ... Byline: Michael Scotti, Editorial Director Differences of opinion at Wall Street conferences are not uncommon. That's what good conference programmers aim for. But heated confrontation is actually pretty rare. At the SIFMA market structure conference in May, one exchange ...
Sponsored Access: Big Banks at Odds with Regulators.(Rules and Regs)(Conference notes)
Jul 01, 2009 ... Byline: Peter Chapman Representatives from the bulge bracket squared off against regulators in late May over calls for tightening controls on the banks' sponsored-access businesses. Lawyers from Morgan Stanley, Bank of America/Merrill Lynch and Goldman Sachs, ...
Blocks: FINRA Warns Brokers on IOIs.(Rules and Regs)
Jul 01, 2009 ... Byline: Nina Mehta Traders say their word is their bond. But that may not always apply to their indications of interest, or IOIs. The Financial Industry Regulatory Authority issued a notice in late May reminding traders of their obligation to send out truthful IOIs. ...
NYSE Reg: Brokers May Get Break on Rule 92.(Rules and Regs)
Jul 01, 2009 ... Byline: Peter Chapman Changes afoot at NYSE Regulation to make its trading-ahead rule look more like the Financial Industry Regulatory Authority's could remove some of the hassles involved with block trading on sellside desks. As part of a long-term plan to remove ...
Flash Point; Equities industry clashes over flash and step-ep-up orders.(Cover Story)
Jul 01, 2009 ... Byline: Nina Mehta Wall Street has a long history of internecine warfare among market centers such as the New York Stock Exchange and Nasdaq. Recent times are no different. A relatively obscure order type made popular by Direct Edge ECN has managed to generate a firestorm of ...
Taking TCA's Temperature.(Feature Story)
Jul 01, 2009 ... Byline: James Ramage Despite widespread usage, the buyside has mixed feelings about transaction-cost analysis and its effectiveness. A Greenwich Associates report on transaction-cost analysis, or TCA, released last month outlines its benefits, shortcomings and how firms are ...
Tech Notes.(Tech Notes)
Jul 01, 2009 ... Byline: Editorial Staff * Fidessa Attracts Global Trading Customers Fidessa has found a sweet spot: the growing number of brokerages looking to trade in overseas markets. The order management system vendor has been signing some of them up to use its global ...
The Small-Cap Roller Coaster.(Buyside Snapshot)
Jul 01, 2009 ... Byline: Gregory Bresiger Be careful not to drive up prices and wait for natural situations. That is the philosophy of two Wells Capital Management traders in Portland, Ore. Their portfolio managers' investment discipline is value-based for the office that has $1 billion under ...
Brokerage: Aussie Firm Acclimates to U.S. Market.(Inside Trading)
Jul 01, 2009 ... Byline: James Ramage Macquarie Capital USA might not yet be a household name in U.S. equities among institutional investors. But the firm appears to be moving at an accelerated pace to get there. Australian brokerage Macquarie Group launched its U.S. broker-dealer as ...
Brokerage: Nomura Rolls Out U.S. Equities.(Inside Trading)
Jul 01, 2009 ... Byline: James Ramage Japan's largest brokerage is gradually unlimbering execution services for its new U.S. equities operation. Almost nine months after acquiring Lehman Brothers' European and Middle Eastern investment banking and equities operations, Nomura Group ...
Brokerage: Former Buysider Leads New Firm.(Inside Trading)
Jul 01, 2009 ... Byline: James Ramage Like many small, independent brokerages, Penserra Securities is expanding into new lines of business and adding head count. But what makes this firm's story different from other startups is that it was cofounded by someone from the buyside. ...
Audit Trail: Regulators to Merge OATS and OTS.(Inside Trading)
Jul 01, 2009 ... Byline: Peter Chapman The two principal self-regulatory bodies are exploring ways to create a centralized system into which brokers would report details about the orders they receive. If the plan comes to fruition, it could alleviate much of the burden brokers now face in ...
Word For Word; Rob Newhouse is chief executive of Ballista Holdings, which has operated an options crossing ATS for broker-dealers since October. The firm's goal is to provide an electronic replacement for interdealer brokers. Last month, Ballista took in funding from four prominent industry firms.(Word For Word)
Jul 01, 2009 ... Byline: Editorial Staff * On the funding- We plan to boost staffing on both the technology and the sales and marketing side and invest in technology such as in our disaster recovery area. * On the role of interdealer brokers in options- There ...
On The Move.(On The Move)
Jul 01, 2009 ... Byline: EditorialStaff * Thomas Tesauro joined institutional brokerage Fidelity Capital Markets to lead its prime brokerage group as executive vice president. Tesauro, a 25-year-plus veteran, will be responsible for strategy and day-to-day operations in Boston. Before joining ...
New Scrutiny: SEC Worried About Dark Pools.(Rules and Regs)
Jul 01, 2009 ... Byline: Peter Chapman The Securities and Exchange Commission has dark pools in its sights. Top SEC officials have gone on record recently criticizing the impact dark pools have on the price discovery process. While they did not promise any action, their attitude suggests a shift ...
Short-Sale Rules: Exchanges Respond To SEC Proposal.(Rules and Regs)(Conference notes)
Jul 01, 2009 ... Byline: Peter Chapman If the Securities and Exchange Commission was counting on the operators of the nation's largest market centers to support any of its five short-sale proposals, it can't be happy. As part of the regulator's proposed changes to Regulation SHO, ...