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October 4, 2012
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News for operations and technology executives in financial services

  Top Story 
 
  • SEC trading-tech meeting focuses on complexity
    Wall Street executives, regulators and other experts met to discuss recent technology glitches that roiled the markets. A common concern is the complexity of the market, which includes stock exchanges and private trading venues. However, any additional change comes with risk. "The more change you introduce into the environment, the more opportunity there is for something to go wrong," said Lou Pastina, executive vice president of NYSE Euronext. "At some point, there has to be a deep breath in terms of how much change is introduced." Reuters (10/2), Financial Times (tiered subscription model) (10/2), The Wall Street Journal (10/2) LinkedInFacebookTwitterEmail this Story
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  Technology Update 
 
  • Buy-side, sell-side firms eager to expand automated trading
    Despite tougher rules governing high-frequency trading and electronic execution, buy-side and sell-side firms are searching for ways to make more use of automated trading. Sixty-seven percent of sell-side companies surveyed want to increase automated trading, according to a survey by MathWorks. Among buy-side firms, 46% were interested in getting further into automated trading. The Trade News (U.K.) (9/27) LinkedInFacebookTwitterEmail this Story
  • Investors aren't in it for the speed, CME Group's Duffy says
      
    Terry Duffy, executive chairman of the board of CME Group, tells CNBC that high-frequency traders are providing markets with liquidity they wouldn't otherwise have and therefore keeping costs down. He also said speed is not a factor for these traders because they are interested in exposure to a segment of the market not in squeezing out instant profits in rapid trades. CNBC (9/25) LinkedInFacebookTwitterEmail this Story

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  Regulatory and Legislative Update 
 
  • SEC ramps up efforts to tackle HFT concerns
    The Securities and Exchange Commission is responding to criticism that it lacks the resources and ability to tackle concerns raised by computerized trading by launching a variety of initiatives. The agency is striving to collect more data from exchanges and record trading orders from origination to execution. "What we will focus on is trying to shed more light on some of the big outstanding questions about market structure," said Gregg Berman, who will head the SEC's office of analytics and research. Bloomberg (10/1) LinkedInFacebookTwitterEmail this Story
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  SIFMA News 
  • SIFMA's Annual Meeting presents: Alan Greenspan on the U.S. economy, the election, job creation, "fiscal cliff" and more
    Register today for the SIFMA Annual Meeting where Former Federal Reserve Chairman Alan Greenspan will offer his outlook on the U.S. economy on the eve of the presidential election. Dr. Greenspan attributes the tepid recovery of the U.S. economy to extra heavy discounting of long-lived assets, and he will discuss policies to address that problem. Join SIFMA on Oct. 23 in New York City to be provided with other insightful information on the issues facing U.S. economic competitiveness. LinkedInFacebookTwitterEmail this Story
  • Asset Managers Forum Workshop: Leadership, Coaching & Talent Management -- Oct. 9
    Leadership, Coaching and Talent Management are a critical skill set to develop throughout one's career. The Asset Management Forum has invited distinguished leaders from Goldman Sachs Asset Management, JPMorgan Asset Management, GE Asset Management, BlackRock, Morgan Stanley and UBS Asset Management to share insights and discuss leadership tools and best practices during periods of change. There is specific emphasis on retaining top talent and a one-hour session dedicated to the effects of Globalization and Outsourcing on Asset Managers business. The event, while hosted by a subset of the Asset Managers Group, is open to all financial services professionals. LinkedInFacebookTwitterEmail this Story
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