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Clash of the Cultures

Mar 24, 2008 @ 10:19 AM By Cristina McEachern,

The announcement that JP Morgan would be bailing out Bear Stearns with a deal to purchase the company at $2 per share sent shockwaves across Wall Street last week.

Rogue Trader Rocks SocGen

Jan 24, 2008 @ 10:59 AM By Cristina McEachern,

Societe Generale announced today that a rogue trader had undertaken “exceptional fraud” resulting in losses of $7.14 billion.

Merrill Partners for Independent Media Research

Nov 2, 2007 @ 10:38 AM By Cristina McEachern,

Merrill Lynch announced an exclusive distribution agreement with Global Media Intelligence (GMI), a provider of independent research on the media sector.

Tabb Group Hot Topic: Commission Sharing

Oct 4, 2007 @ 08:41 AM By Cristina McEachern,

Tabb Group has released its annual equity trading report, “U.S. Institutional Equity Trading 2007: Tracing the Path to Liquidity,” with some interesting findings for both the buy side and their sell side counter parts.

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.

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.

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.

Bear CDO Series: S&P Partners with Sky Road for Credit Ratings Data

Aug 22, 2007 @ 03:41 PM By Ivy Schmerken,

With the fall out from the credit crisis spreading to multiple asset classes and ravaging returns, the rating agencies are partnering with technology providers to get their data in the hands of hedge funds. Yesterday, Standard & Poor’s said it will make its credit ratings data available through Sky Road LLC, a provider of hosted technology to hedge funds engaged in cross-asset trading.

Savvis Exchange Express Launched

Aug 20, 2007 @ 10:29 AM By Cristina McEachern,

Savvis has released its Savvis Exchange Express solution for users to connect directly to exchanges for market data feeds and trade execution. The low latency connectivity offering provides Ethernet access to market data feeds.

Nasdaq Gains SEC Approval to Launch Private Placement Market

Aug 1, 2007 @ 03:33 PM By Ivy Schmerken,

The Nasdaq Stock Marketreceived the green light from the Securities and Exchange Commission to launch a private electronic trading platform for unregistered debt and equity securities. The Portal Market will begin operating on Aug. 15. Nasdaq's plans to create a secondary market in private placements, which tend to be illiquid securities, have been circulating in the media with a story posted in Advanced Trading.

TABB Group’s Jeromee Johnson Departs to Launch Options ATS

Jul 24, 2007 @ 12:11 PM By Ivy Schmerken,

Jeromee Johnson, senior analyst at TABB Group, the financial markets research and advisory firm, is leaving his position this week to join 3-D Markets Inc., a software developer that is about to launch the first block crossing network for U.S. equity options. As of Aug. 1st, Johnson will run the day-to-day operations of 3-D Markets Inc., the software firm, founded in New Hope, Penn. by algorithmic trading guru Dave Mortimer, but he will also be responsible for product development, client integration, technical sales and a variety of other areas.

EdgeTrade Releases Dark-Only Algo

Jun 18, 2007 @ 09:39 AM By Cristina McEachern,

EdgeTrade has released its Covert algorithm for dark pool order execution. Building on its FAN smart order execution tool that sprays public markets and dark pools simultaneously, EdgeTrade has now developed a separate dark only liquidity-seeking algorithm.

FX Concepts (New York)
Phil Simotas
President and Director of Investment Management

Algorithmic trading is one area. And, obviously, because currencies are our focus, we're always trying to improve our techniques and our models in all areas -- whether it's in emerging currencies, options, developed currency portfolio formation, any of that. But the areas ... More >>