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Category Archives: Trading platforms

Mendoza Stock Exchange…

Wednesday, July 23, 2008

      In the years that I was active in FIX Protocol I paid general attention to what the equity guys were doing… which was always miles ahead of what we were doing in fixed income… think exchanging lists of offerings in a structured format resting on a session layer (FI) versus sub millisecond latent streams […]

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Naked…

Wednesday, July 16, 2008

  ***    Stock loan… those guys always seemed to make money out of thin air… new rules… tough rules… which ask for some modest proof of intent to deliver… from the WSJ…
~~~~ “…. One Wall Street executive of a prime brokerage, which caters to fast-trading hedge funds routinely engaging in short selling, said the new rules […]

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Emerging markets push…

Monday, July 14, 2008

         The smart folks over at FIX Protocol are making a push to get more institutions and organizations in the emerging markets onboard… from the press release…
~~~~ “…Within the past 12 months, FPL has managed as well as participated in a number of events within emerging markets including conferences held in Eastern Europe, Latin America, Asia, […]

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Sifma doesn’t like it…

Monday, July 14, 2008

   From BBG… “SEC Plan for Market-Data Fees Is `Fatally Flawed,’ Sifma Says “
Wall Street’s biggest lobbying group said a U.S. regulator’s plan to let NYSE Euronext charge brokerages for certain stock quotes is so “fatally flawed” that it would be rejected by a federal court.
The U.S. Securities and Exchange Commission can’t rely on competition […]

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In Euromoney …

Sunday, July 13, 2008

    As way of background for my new idea… (a transparency scale… I’m trying to devise some metrics to describe the transparency and liquidity of various asset classes) I’m pulling out some older files…
Here is an article from Euromoney in 2002 that I organized when we were ready to start marketing FIX for fixed income… I […]

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The reform begins …

Thursday, July 10, 2008

 The House Financial Services Committee held the first hearing on the credit crisis and began discussion of the reform of regulatory oversight today…
Here is the Bloomberg video of the opening statements of Chairmen Frank, Kanjorski, and Bernanke, Treasury Secretary Paulson, and Ranking Members Bachus and Biggert…. (running time = 38 minutes)… it gives a flavor for […]

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Accelerating competitiveness…

Thursday, July 3, 2008

    Washington, D.C., July 3, 2008 — The Securities and Exchange Commission today published a final rule and new interpretive guidance to improve the rulemaking process for exchanges and other self-regulatory organizations (SROs) that operate under SEC oversight.
The Commission voted unanimously on June 25, 2008, to approve the final rule and issue the guidance to […]

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…oil algo…

Thursday, July 3, 2008

    Well written article on the application of automated trading strategies to the oil futures markets… just another product for dealing…  prop traders like investment banks using equity type algorithms, technologies and cross platform arbitrage…

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Tearing up the daisy chain…

Wednesday, July 2, 2008

       ::::::::::::::::::   History lesson   :::::::::::::::::::
~~~~ “In the late 1960s and early 1970s, the U.S. securities markets experienced a back-office crisis caused by increasing volumes and back-office inefficiencies in processing securities transactions. During this “paperwork crisis,” a brokerage firm used approximately 33 different documents to execute and record a single securities transaction. As a result, these […]

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~~ NIIDS ~~

Friday, June 27, 2008

  ~~ Infrastructure alert ~~
The newly developed MRSB system for muni underwriters  to disseminate issue details is almost ready to go… launch is September 30, 2008… the SEC just approved underwriter registration and testing on the system… 
This system is the New Issue Information Dissemination System (“NIIDS”)…
Niids follows Edgar, Emma, Trace… DISSEMINATION SYSTEMS…
Missed the SIFMA workshop on the […]

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