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Trading   

  • CBOE Plans Daily Options
    09/02/2010

    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.

  • Phlx Requires Liability Insurance For Floor Traders
    09/02/2010

    Nasdaq OMX Phlx said it plans to require firms that trade on its options floor to acquire and keep liability insurance.

  • Phlx Launches Prop Options Data Offering
    09/02/2010

    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.

  • Exchanges Disagree On European OTC Derivatives Trading
    09/01/2010

    Global exchanges are split on whether a mandate to force trading of over-the-counter derivatives onto exchanges or execution platforms is really necessary.

  • BofA Merrill Nabs BarCap FX Strategist
    09/01/2010

    Bank of America Merrill Lynch has hired Adarsh Sinha from Barclays Capital for a new position in foreign exchange strategy at the firm.

  • BNY Mellon Grows European B-D Services
    09/01/2010

    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.

  • Bloomberg Tradebook Builds Out Analytics
    08/31/2010

    Bloomberg Tradebook is building out the analytic services within its global agency brokerage business with new technology and hires.

  • Nasdaq Lowers Criteria For Regaining Listed Status
    08/31/2010

    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.

  • NYSE, Amex Equities Revise SLP Quoting Requirements
    08/30/2010

    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.

  • Phlx To Require Additional Floor Broker IDs
    08/30/2010

    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.

  • ConvergEx To Resurrect CSA Consortium
    08/27/2010

    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.

  • Analysts To Exchanges: Don’t Buy Chi-X Europe
    08/27/2010

    Traditional exchanges would be unwise to purchase Chi-X Europe, market structure experts and industry participants tell WSL.

  • BIDS’ Mahoney Foresees ATS Consolidation
    08/26/2010

    Alternative trading systems are likely heading toward a period of consolidationin the next 18 months, according to Tim Mahoney, ceo of BIDS Trading.

  • TradeStation Focuses On Int’l Expansion
    08/26/2010

    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.

  • ISE Proposes Additional Options Expirations
    08/25/2010

    The International Securities Exchange wants to launch a pilot program that would allow it to add two expiration months to a set of options.

  • CBOE Lashes Back At ISE On Fees
    08/25/2010

    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 Rolls Out Weekly Options
    08/25/2010

    TD Ameritrade just added weekly options to its thinkorswim offering earlier this month.

  • BX Plans Non-NMS Securities Listings
    08/24/2010

    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.

  • Citi Plans Hires To Support Asia Dark Pool
    08/24/2010

    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.

  • ISE Adds Index-Only Market Makers
    08/23/2010

    The International Securities Exchange plans to introduce two categories of index-focused market makers.

  • CBOE Opens Up HAL Auction
    08/23/2010

    The Chicago Board Options Exchange has opened its Hybrid Agency Liaison (HAL) auction to all trading permit holders.

  • TABB: Fees, Agreements Drove Options Share Redistribution
    08/23/2010

    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 Plans Expansion
    08/20/2010

    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.

  • Fixed Income Brokerage Launches Trading Platform
    08/20/2010

    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.

  • PHLX Piles On With Changes To Broker Voting
    08/19/2010

    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 Markets Tech To Smaller B-Ds
    08/18/2010

    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.

  • LSE Ups Obligations For Market Makers
    08/18/2010

    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.

  • Manager Supports HF Strats With Interxion
    08/18/2010

    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.

  • JonesTrading Touts A ‘Back To The Basics’ Regime
    08/17/2010

    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.

  • BOX Brushes Off ISE Complaints On PIP
    08/17/2010

    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.

  • Phlx Defines Late Trade Reporting Exceptions
    08/16/2010

    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

  • Kaufman To SEC: End Ban On Locked Markets
    08/16/2010

    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.

  • Peterffy Calls For Market Maker Obligations Fix
    08/13/2010

    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 To Launch Small-Cap Algos
    08/13/2010

    Citi plans to launch algorithms in the next few months that focus on trading small- and mid-cap stocks.

  • SIFMA To SEC: Flash Ban Will Crush Market Makers
    08/13/2010

    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 Unveils Benchmark Algo
    08/13/2010

    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 Plots Fall Int'l Equities Launch
    08/13/2010

    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.

  • Peterffy Calls For Market Maker Obligations Fix
    08/13/2010

    Thomas Peterffy, chairman and ceo of Interactive Brokers and a pioneer of electronic trading, is on a tear about contemplated changes in market structure.

  • FINRA makes A Play For Audit Trail LeadershiP
    08/13/2010

    The Financial Industry Regulatory Authority has launched a bid to become keeper of the consolidated audit trail, according to WSL sister publication Compliance Reporter.

  • Pre-trade risk: Consolidation in a fragmented world
    08/13/2010

    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.

  • CFTC Takes FIA Advice On Acknowledgment Letters
    08/12/2010

    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.

  • Phlx Alters Opening Quote Process
    08/12/2010

    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.

  • ISE Adds Automation To Solicited Order Function
    08/11/2010

    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 To Offer Global Trading By Mid-September
    08/11/2010

    UNX is set to offer a global equities trading platform for clients by Sept. 15, said Thomas Kim, ceo.

  • NorthPoint Seeks Sales, Operations Staff
    08/10/2010

    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.

  • Ross Leaves NYSE MatchPoint
    08/09/2010

    Jim Ross has left NYSE Euronext’s MatchPoint. Ross, the founder and ceo of the crossing network, departed last week.

  • NYSE Mandates Pre-Opening Indications For IPOs
    08/09/2010

    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.

  • BofA Merrill, BNP Paribas Ramp Up FX Trading
    08/09/2010

    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.

  • Phlx Extends Cut-Off For Contrary Exercise Advices
    08/09/2010

    Nasdaq OMX Phlx is extending the cut-off time to submit contrary exercise advices, including those for quarterly options series.

  • ITG To Launch Algos For Brazil
    08/09/2010

    ITG plans to launch its algo suite in Brazil in the next few weeks and has already started testing with a select group of clients.

  • Madison Williams Hunts For Staff
    08/06/2010

    Madison Williams and Company, a capital markets and investment banking firm, is on the hunt for staff to support its plans to launch two new research, trading and banking verticals in the next year and a half, said Michael Gantcher, head of institutional sales and trading.

  • Summary of Fee Changes at Exchanges and ECNs
    08/06/2010

  • SJ Levinson Goes Global
    08/05/2010

    SJ Levinson & Sons has gone global with its equity and derivatives trading platform, as well as its quantitative analytics and plans to further expand the business with additional international trading and sales hires, said Matthew Levinson, chairman.

  • BOX Renews Price Improvement Focus
    08/04/2010

    Boston Options Exchange has renewed its focus on price-improvement auctions, rolling out price breaks for initiators of auctions as well as creating incentives for customers who take part in the auctions, said Tony McCormick, ceo.

  • Nasdaq Expands Volatility Guards To Nordics
    08/04/2010

    Nasdaq OMX Group will extend the reach of its recently announced volatility guards into Europe by adopting the structure on Nasdaq OMX Nordic.

  • CBOE Hangs On To Market Share Lead
    08/03/2010

    The Chicago Board Options Exchange has maintained its market share lead among options exchanges in spite of a decline in volumes it has experienced since May.

  • Instinet Options CBX Met With Industry Support
    08/03/2010

    Options industry officials are optimistic about the potential success of a new continuous options dark pool launched by Instinet.

  • Janney Nabs Former Wachovia Vet For Sales
    08/03/2010

    Janney Capital Markets, a subsidiary of Janney Montgomery Scott, has hired Wachovia Securities veteran, Jennifer Feeley, as a director in institutional equity sales.

  • Citadel Electronic Sales Head Exits
    08/02/2010

    Jay Fraser, managing director of electronic sales for Citadel Securities, left the firm last week.

  • Arca To Allow Guaranteed Execution Arrangements
    08/02/2010

    NYSE Arca plans to allow order flow providers to arrange for a guaranteed execution with a particular market maker at the national best bid or offer.

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