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December 27, 2012
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News for operations and technology executives in financial services

  Top Story 
  • Real-time trading data coming to SEC
    The Securities and Exchange Commission is testing the software for a system that will give it its first direct access to real-time data on what's going on in the U.S. securities markets. The technology, which will cost the regulator about $2.5 million for the first year, is scheduled to go into full operation early in 2013. The Washington Post (12/24) LinkedInFacebookTwitterEmail this Story
  Operations Update 
  • ICE chief brings fresh perspective on trading practices
    Jeffrey Sprecher, chairman and CEO of IntercontinentalExchange, shares his views on the industry, which he believes is due for a shake-up. Sprecher does not support paying incentives to attract big traders onto stock exchanges, also known as "maker-taker" pricing, and disagrees with dispersion of stock trading across many exchanges and private markets, two common industry practices. The Wall Street Journal (12/25) LinkedInFacebookTwitterEmail this Story
  Technology Update 
  • HFT and "dark pools" prepare for a difficult year ahead
    The combination of increased regulatory pressure and a lack of transparency may lead traders away from high-frequency trading and "dark pools," according to some in the industry. David Mechner, CEO of Pragma, said: "There's increasing concern that off-exchange volume is having a negative effect on the market." Traders are becoming increasingly leery of the perceived conflicts of interest that dark-pool operators will face. The Trade News (U.K.) (12/21) LinkedInFacebookTwitterEmail this Story
  • Editorial: Study offers insight into high-frequency trading
    A study led by the chief economist at the Commodity Futures Trading Commission leaves some questions unanswered, this editorial argues while wondering why the Securities and Exchange Commission has not investigated high-frequency trading more thoroughly. Bloomberg (12/25) LinkedInFacebookTwitterEmail this Story
  • Commentary: The glitches that stole 2012
    Computer glitches' effect on trading was a recurring theme this year, as a handful of prominent errors -- culminating with Knight Capital Group almost bankrupting itself thanks to an out-of-control algorithm -- brought increased scrutiny to the role that automation plays in the trading world. Traders Magazine Online (12/26) LinkedInFacebookTwitterEmail this Story
  Regulatory and Legislative Update 
  • CFTC delays derivatives rules for foreign banks
    The Commodity Futures Trading Commission has given foreign banks until mid-July to comply with derivative trading rules. "The relief period provides time for the Commission to work with foreign regulators as they implement comparable requirements," CFTC Chairman Gary Gensler said. CFTC.gov (12/21), Bloomberg (12/22), Reuters (12/21) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • Take advantage of early-bird rates for SIFMA Tech 2013 -- June 18-19 -- New York City
    As the financial services industry's technology evolves, so does SIFMA's Tech Conference. SIFMA is taking this 30-year tradition to new levels in 2013. SIFMA Tech 2013 will again be a focal point for industry leaders, regulators and solution providers, but in a new and dynamic forum. Save the date! Better yet, take advantage of early-bird rates to learn how you can harness cutting-edge technology to achieve a technological infrastructure that keeps your firm at peak efficiency and keeps your clients better served. LinkedInFacebookTwitterEmail this Story
  • 2013 Securities Industry Institute (SII) -- March 3-8 -- Philadelphia
    The Securities Industry Institute® (SII) is the premier executive development program for securities industry professionals. Now in its 62nd year, the Institute is held each March at The Wharton School of The University of Pennsylvania. The mission of the Institute is to equip each participant with practical information, ideas and answers directly applicable to their present and future responsibilities. Want to know more about the SII? Hear more from SII Trustees about SIFMA's premier executive education program and the overall value for those interested in attending or nominating employees at their firm. LinkedInFacebookTwitterEmail this Story
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