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TradeTech West: Dark Pools Rising

Sep 26, 2007 @ 05:34 PM By Cristina McEachern,

Dark pools were the order of business for an intriguing panel discussion at TradeTech West today. The discussion, moderated by Douglas Engmann, senior executive vice president and managing director of equities at Fimat USA, touched on dark pool strategies, trends and one panelist even took it so far as to say that displayed markets are not necessary for buy side traders.

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Trading Bonuses: What Can You Expect To Bring Home This Year?

Sep 26, 2007 @ 01:43 PM By Ivy Schmerken,

With the credit crisis battering fixed-income desks and quantitative hedge funds, Wall Street traders are going to see their bonuses shrink in 2007 as firms recover from the turmoil in sub-prime mortgages and position their desks for 2008.

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TradeTech West: Algos Inside Out

Sep 26, 2007 @ 11:35 AM By Cristina McEachern,

How exactly are buy side traders using algorithms? That was the question posed to a panel at the TradeTech West conference taking place in San Francisco this week.

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TradeTech West Coverage: Best Execution

Sep 25, 2007 @ 01:49 PM By Cristina McEachern,

The TradeTech West 2007 Conference, hosted by Worldwide Business Research, got underway this morning in San Francisco and I will on hand reporting for the next two days on the panels and discussions taking place at the trading event.

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More Speculation on Nasdaq-Dubai Alliance

Sep 25, 2007 @ 10:43 AM By Ivy Schmerken,

There could be more intrigue behind Nasdaq�s three-way transaction with the Borse Dubai to control OMX and dispose of its stake in the London Stock Exchange. One leading UK newspaper reported that Nasdaq has plotted an alliance with Dubai to ultimately bring the LSE into a global exchange network.

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Credit Suisse Appoints New Liquidity Head

Sep 21, 2007 @ 10:23 AM By Cristina McEachern,

Dmitri Galiametdinov has joined Credit Suisse�s Advanced Execution Services group as Director and Head of Liquidity Strategy.

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Feingold, Smith Join Portware to Head Up New Product Strategy Group

Sep 19, 2007 @ 02:21 PM By Cristina McEachern,

Portware announced the appointment of two industry veterans to head up its newly formed Product Strategy Group.

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BIDS Trading Passes A Billion Shares with Utility Model

Sep 18, 2007 @ 05:40 PM By Ivy Schmerken,

As the ongoing battle for liquidity heats up among the major U.S. equity block trading platforms, BIDS Trading appears to be making rapid inroads with its open access, utility pricing model. In a sign that its model is catching on, yesterday, the BIDS alternative trading system, announced it has traded one billion shares since its formal launch this past April, only six months ago.

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RealTick Adds Thomas Weisel Execution Services Offerings

Sep 18, 2007 @ 11:47 AM By Cristina McEachern,

Townsend Analytics announced it has added Thomas Weisel Partners� Weisel Execution Services� (WES) proprietary algorithms and equities execution services through its RealTick execution management system.

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Options Dark Pool Readies for Launch

Sep 14, 2007 @ 03:10 PM By Cristina McEachern,

While dark pools have popped up like crazy on the equities side, bringing the total somewhere close to 40, there will soon be a new dark pool dimension. U.S equity options.

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Rosenblatt Securities Hires Sanders to Build Out International Trading

Sep 12, 2007 @ 04:42 PM By Ivy Schmerken,

Eyeing the regulatory changes in European equity markets with MiFID, Rosenblatt Securities hired Tom Sanders, formerly of Bank of America International, as a managing director to build an international trading desk for the New York-based institutional agency only broker.

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Buy Side Ranks SwapsWire Dealers

Sep 12, 2007 @ 01:34 PM By Cristina McEachern,

Deutsche Bank, JP Morgan Chase and Goldman Sachs were ranked as top dealers by buy side users in the 2007 SwapsWire Dealer Performance Survey.

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InfoReach Unveils Free Multi-Broker Execution Service

Sep 11, 2007 @ 07:19 PM By Ivy Schmerken,

Yesterday, Chicago-based InfoReach launched Brokereach, a completely free Web-based trading application that allows the buy-side to route orders to multiple brokers and see their positions update in real-time. Traders can route orders in single name stocks baskets and to algorithms of brokers that are on the network. As of this week, brokers using Brokereach include Credit Suisse, UBS, ITG, Jefferies, Lehman Brothers and TradeTrek Securities.

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Instinet Adds Direct Access to Three Broker Algos

Sep 10, 2007 @ 10:01 AM By Cristina McEachern,

Users of Instinet�s Newport and Instinet Trading Portal execution management systems (EMSs) can now directly access Bank of America, Credit Suisse and Goldman Sachs algorithms.

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Citi Makes Equities Trading Appointments

Sep 6, 2007 @ 11:31 AM By Cristina McEachern,

In a memo to the Global Equities group at Citi, Peter Santoro, Global Head of Equity Trading, announced that Bret Engelkemier has been appointed Global Head of Systematic Trading effective September 10th.

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Boston Equities Exchange (Bex) Shutters Operations

Sep 5, 2007 @ 02:22 PM By Ivy Schmerken,

The Boston Equities Exchange, an automated trading facility is shuttering its trading operations today, according to an announcement by the Boston Stock Exchange(BSE). The news came suddenly and suggests there could be a shakeout among the e-trading ventures formed to compete under Regulation NMS.

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R.G. Niederhoffer Capital Management (New York)
Roy Niederhoffer
President and Founder

You have to rotate your models more rapidly today than you used to. Models that used to work have stopped working with greater rapidity lately. I think that this probably represents the entrance of a large number of players into the hedge fund space in ... More >>