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Wall Street & Technology February 12, 2007 Cory Levine |
Exchanges Lag in IT Spending Despite the global reinvention of securities exchanges as for-profit companies, IT spending by exchanges will continue to lag behind that of brokers and asset managers, according to research. |
Wall Street & Technology May 15, 2006 Cory Levine |
An Industry in Denial Reg NMS is set to change the foundation of the securities industry and represents the reality of a major industrywide spend. But on whose shoulders that expense will fall remains largely up in the air. |
Wall Street & Technology January 23, 2007 Jessica Pallay |
In the Search of Liquidity: The Time Is Now Now that Reg NMS is finally here, are firms ready to access 30 or more trading venues in their search for liquidity? After a year of investment in technology, firms need to demonstrate that their systems are up to the challenge. |
Wall Street & Technology July 23, 2004 Kerry Massaro |
Reinventing Themselves If you look back at the late-'90s, when new ECNs were being introduced into the marketplace regularly and a huge rivalry had developed between the ECNs and the exchanges, the securities industry's last consideration would have been that the two would join forces. |
Wall Street & Technology March 21, 2006 Larry Tabb |
Reg NMS: A Pox on All Your Houses The SEC's Reg NMS will significantly alter the way the markets and the industry as a whole operate. Instead of the market consolidation we have seen over the past few years, we are seeing a market fragmentation, as regional exchanges retool and ECNs proliferate. |
Wall Street & Technology January 24, 2006 Paul Allen |
Turning the Tide As ECNs and other alternative trading systems have emerged, fragmentation in the capital markets has increased. But with the acquisitions of Archipelago by the NYSE and of the Brut and INET ECNs by Nasdaq, the tide may be turning. |
Wall Street & Technology January 23, 2007 Cory Levine |
NYSE Requests a Four-Week Extension of the Reg NMS Deadline Although it has been beaten to death by industry analysts and press, the importance of the changes to the U.S. securities industry spurred by Reg NMS cannot be overstated. The industry anxiously awaits full implementation of the regulation in 2007. |
Wall Street & Technology November 21, 2006 |
The World After MiFID LogicaCMG explores the potential impacts of the Markets in Financial Instruments Directive and forecasts three scenarios that may play out in the E.U.'s capital markets over the next five years. |
Wall Street & Technology August 22, 2007 Melanie Rodier |
European Exchanges See Booming Revenues Revenues generated by the main European exchanges have skyrocketed over the past three years, making them considerably more profitable than their U.S. counterparts. |
Wall Street & Technology February 14, 2006 Larry Tabb |
Aggregation: Back to the Future With only two or three trading venues, aggregation is not very interesting. However, with the existence of three major execution venues, and another six or seven regionals and ECNs, in conjunction with an empowered SEC focused on best execution, and now you have a horse race. |
Wall Street & Technology March 19, 2007 Cory Levine |
SIFMA and NetCoalition Set Off Market Data Dispute Lobbyists SIFMA and NetCoalition have convinced the SEC to conduct a rare review of market data fees, setting off a spirited debate between exchanges and broker-dealers, such as Charles Schwab. |
Wall Street & Technology June 12, 2007 Ivy Schmerken |
OES, Lava Trading Emerge as Dominant Vendors in Order Routing Brokers, exchanges and other vendors are relying on Order Execution Services and Lava Trading for their Reg NMS compliant order routing. But does this pose a risk? |
Wall Street & Technology March 14, 2008 Penny Crosman |
Exchanges Hardest Hit by Trade Data Avalanche Although the buy side and sell side have to store trade data, too, exchanges such as ISE are hardest hit by Reg NMS/MiFID trade data volumes. |
Wall Street & Technology September 18, 2006 |
Ask The Experts: Mark Madoff, Codirector of Trading at Bernard L. Madoff Investment Securities The battle between Nasdaq and the NYSE is not your traditional price war, which usually is characterized by lower fees. So, how will this price war change order flow, and how will it impact regional exchanges and ECNs? |
Wall Street & Technology June 22, 2004 Ivy Schmerken |
How Low Can You Go? Reg NMS' proposed formula for allocating market-data revenues among exchanges isn't getting a warm welcome on the Street. |
Wall Street & Technology January 5, 2007 Ivy Schmerken |
Stock Exchanges Create Trade Reporting Facilities to Earn Market Data Fees From Internalized Trades With the number of dark books and alternative trading systems proliferating, stock exchanges are venturing into the trade reporting business to earn market data fees from reporting off-exchange trades. |
Wall Street & Technology July 26, 2004 Ivy Schmerken |
Making Markets Move The race to become a fast market may lead exchanges to join forces with ECNs. |
Wall Street & Technology January 5, 2007 |
Demand for Depository Receipts to Stay Strong According to a new report, global market consolidation will not spell the end for the international depository receipt as a financial instrument. |
Wall Street & Technology March 21, 2006 |
Building Blocks For Competition New research indicates that the next three years will see the New York Stock Exchange and Nasdaq attempt to win back block order flow from independent crossing network providers, and they may very well succeed. |
Wall Street & Technology September 11, 2007 Larry Tabb |
The Boston Equity Exchange (BEX) Calls It Quits It was the first of the regional exchanges (dealer-capitalized or not) to throw in the towel. But what does this mean? Is the Boston Stock Exchange dead? Is it valueless? |
Wall Street & Technology November 27, 2007 Melanie Rodier |
Equity Transactions Boom Across Global Exchanges As the global capital markets undergo a series of major structural changes, the number of equity transactions has exploded globally by an average increase of 44% from 2006 to 2007, according to a new report. |
Investment Advisor March 2007 Kathleen M. McBride |
Monopoly Game How should newly public exchanges like NYSEArca and Nasdaq balance what some say are enormous and very fundamental conflicts of interest? |
Knowledge@Wharton |
Global Securities Markets Present Tough Challenges for Investors and Regulators The bursting of the Internet bubble, the collapse of Enron and the emerging demutualization of securities exchanges, especially in Europe, have brought the role of securities market regulators into sharper focus than before... |
Wall Street & Technology June 12, 2007 Melanie Rodier |
Wall Street Firms Fine-Tune Reg NMS Compliance, Look Ahead at the Future Most financial firms have been working on boosting their order-routing capabilities and their infrastructure. But now is the time to see whether their systems can efficiently handle the data Reg NMS requires. |
Wall Street & Technology October 24, 2007 Michael Topper |
The Repercussion of MiFID and Reg NMS in the U.S. U.S. financial institutions must educate themselves on the difference and similarities between Reg NMS in the States and MiFID in Europe to ensure they know the rules and are able to comply. |
Bank Technology News November 2007 |
Alternative Trading: ECNs, Dark Pools Gain Ground on Exchanges The trading venues running outside the traditional NYSE/NASDAQ exchange channels have their advantages-but also some limitations from their own success. |
Wall Street & Technology March 14, 2008 Larry Tabb |
NYSE TransactTools May Be NYSE Euronext's Most Important Asset NYSE TransactTools, a FIX-engine provider, could be the ticket to the NYSE's survival. |
Wall Street & Technology September 23, 2007 Greg MacSweeney |
Photo Gallery: Savvis Data Center Offers Connectivity to Exchanges Worldwide With reducing data latency a priority for financial services firms, one option is to co-locate servers that run trading applications close to exchanges. This New York-area data center specializes in just that. |
Wall Street & Technology October 17, 2007 Melanie Rodier |
Exchange Market Share Set to Decline Due to Competition from Nimble Dark Pools and ECNs Aite Group expects to see an increasing decline for the exchange market share as NYSE, NASDAQ, and regional exchanges struggle against price-competitive ECNs and dark pools. |
BusinessWeek February 26, 2007 Weber & Goldstein |
NASDAQ: From Predator To Prey? After NASDAQ's failed LSE bid, those beaten shares may look cheap to investors - and rivals, too. |
Wall Street & Technology February 3, 2005 |
REG NMS Cheat Sheet A synopsis of the 371-page SEC document outlining the Regulation National Market System proposal, with one-page summaries of each of its four components. |
The Motley Fool June 1, 2007 John Finneran |
Nasdaq/OMX: The New Exchange Equation After a cold reception in London, Nasdaq is acquiring Stockholm-based OMX. The exchange consolidation party is still in full swing, but investors should remain extremely clear-headed. |
Wall Street & Technology June 28, 2005 |
The Next Big Thing Four analysts predict what shape they believe the future landscape of financial services technology will take. |
Wall Street & Technology April 15, 2008 Cory Levine |
Quod Releases Solution for Buy-Side Execution Management Advanced Smart-Order Router uses the algorithms in Quod's sell-side solution to bring new levels of routing capabilities to the buy side, the vendor says. |
Bank Technology News June 2005 Glen Fest |
Irreconcilable Differences? When Jerry Putnam used to describe the New York Stock Exchange and its practices, the CEO of Archipelago Holdings was prone to using words like monopolistic, blackball and pathology. |
The Motley Fool June 28, 2007 Chuck Saletta |
Dueling Fools: NYSE Euronext Bear Rebuttal All told, the euphoria surrounding NYSE Euronext and the other exchanges smells a lot like the late 1990s technology stock bubble. Value hunters will be ready to pick up the pieces once valuations return to sane levels. |
Wall Street & Technology April 25, 2005 Schmerken & Massaro |
The Fate of ITS In a divided vote, the SEC passed Reg NMS, ushering in a new and improved trade-through rule that will make best price and fast quotations a requirement for U.S. equities trading. What will become of the Intermarket Trading System (ITS)? |
The Motley Fool April 23, 2007 Richard Gibbons |
Unbeatable Businesses One of the keys to becoming a successful investor is to think like a business owner, rather than simply the owner of shares. |
Wall Street & Technology February 14, 2006 Ivy Schmerken |
Brokerage Teams Tackle Reg NMS as Deadline Looms Many financial firms have joined industry committees to make sure that their organizations' interpretations of Regulation National Market System (Reg NMS) are in line with other market participants' views. |
The Motley Fool July 13, 2006 Alex Dumortier |
Another Japanese-Korean Truce? The Tokyo Stock Exchange and Korea Exchange announcement of a collaboration agreement is one sign of a change exchanges industry. |
Wall Street & Technology May 21, 2007 Les Kovach |
Latest Market Data Dispute Over NYSE's Plan to Charge for Depth-of-Book Data Pits NSX Against Other U.S. Exchanges The NYSE filed a comment letter with the SEC supporting a review of the Commission's approval of the NYSE's fee proposal as well as a review of the current market data revenue-sharing formula under Reg NMS. |
The Motley Fool November 30, 2006 John Finneran |
Are Exchanges Overheated? Stock exchanges' stratospheric valuations may not reflect reality. |
Wall Street & Technology January 5, 2005 Steve Silberstein |
Dear CIO... Question: How will Reg NMS impact broker-dealers? |
BusinessWeek September 24, 2009 Mark Scott |
Lowering the Bar for Stock Listings To boost revenue as trading volume slips, the NYSE is relaxing requirements. |
Wall Street & Technology January 22, 2008 Sabatini & Smirnoff |
Trade Reporting, Surveillance Key To Compliance With increased regulatory focus on protecting securities market participants, trade reporting and trade surveillance are key to providing transparency, efficiency and oversight for today's trading environment. |
Inc. November 1, 2009 Minda Zetlin |
Online Barter Exchanges Here are the largest online barter exchanges. All of them let you peruse available goods before joining |
CFO May 8, 2006 Rob Garver |
Super-Market Shopping Flush with cash and a mandate to go electronic, stock exchanges prepare to consolidate. |
The Motley Fool December 26, 2006 Dan Caplinger |
The SEC's Gift to You: Part 2 By giving the investing public access to information, and serving as a regulator with the power to take action to correct problems, the SEC works hard to protect investors. |
Wall Street & Technology June 13, 2006 |
Ask the Experts Mark Madoff, co-director of trading at Bernard L. Madoff Investment Securities, discuses how the U.S. securities market will change as the NYSE and Nasdaq introduce new fee schedules. |
Wall Street & Technology October 25, 2004 Ivy Schmerken |
Exchanges Explore Data Value Like Nasdaq, U.S. stock, options and futures exchanges are using technology to create new data products. |