Latest Commentary

Circuit breakers win, dark pools lose in stock market rout

It wasn't the "flash crash," but the rout of equity markets that began Monday offered a glimpse of how the market's technology  infrastructure stands up to sudden volatility.

Guessing the trickle down effects of commission unbundling

In announcing this week that it has achieved the payment institution status that will enable it to offer clients a "hard dollar" solution for paying for research, Instinet said it was planning to launch the new service in response to customer demand.

The investigation of the JPMorgan hack plays on through bitcoin, fraternity brothers and more

Recently unsealed indictments in two unrelated criminal investigations have revived last summer's big news story of the hack of JPMorgan, albeit with a new cast of characters and maybe even more intrigue.

ITG woes signal continued scrutiny of dark pools

Investment Technology Group (ITG) ousted its chief executive of nine years this week, less than a week after announcing that was setting aside $20.3 million for a potential settlement with the Securities and Exchange Commission over past issues related to the operation of its POSIT dark pool.  

 

Deutsche Borse acquires 360T, with rumors of more exchange FX acquisitions to come

Deutsche Borse announced Sunday that it is buying over-the-counter trading platform 360T, greatly boosting its foreign exchange operations less than six months after BATS Global Markets closed its Hotspot FX acquisition. Rumors of other acquisitions of FX venues by exchanges, and reports that other exchange players had bid on 360T have drawn attention to the potential for consolidation in the $1.6 trillion a day FX market.

Firms turn to social media monitoring for cyberthreat detection

Last year social domains reportedly began outnumbering traditional domains for the first time. For a growing number of companies, including many of the top banks in the U.S., monitoring this more informal part of the Internet is becoming a key defense in identifying criminals looking to gain entry into a firm or divert business away from it, experts say.

In LEI debate, some start to see benefits but adoption remains slow

The concept of legal entity identifiers has attracted strong enthusiasm for its potential to help firms and regulators better assess risks by identifying the entities to which firms are exposed. But three years after G20 leaders endorsed Financial Stability Board proposals for global LEI standards, the protocol is the subject of debate, with some firms starting to see benefits and others complaining that adoption is too slow.

What's next after CME pit closures?

CME Group officially closed most of its open outcry futures pits in Chicago and New York Monday, five months after first announcing the closure plans in response to the increasing move to electronic trading.

 

Nasdaq launches index calculation engine as Deutsche Borse seeks full control of Stoxx, Indexium

Announcements from two major exchanges Tuesday pointed to the growing importance of indexes as a revenue generation tool for marketplaces. The announcements from Deutsche Borse and Nasdaq follow London Stock Exchange's recent acquisition of the Russell Indexes.

Should financial firms manage their own AML/KYC?

It is estimated that global systemically important banks spend hundreds of millions of dollars on anti-money laundering compliance. As is often the case with large financial institutions, the challenge of managing data in one of the most arduous and costliest parts of the process.