Latest Commentary

A look at the NYSE's Institutional Liquidity Plan

The dark vs. lit execution debate has grown more complex as of late. The reality is that dark execution has proven to be quite attractive to the exchange companies that have complained bitterly about...

Will the Volcker Rule be enforced?

An esteemed New York Times columnist raises a tough question: will the Volcker Rule be enforced? One would think that answer would be, "Yes." But it's not so simple. Given the...

Volcker rule will spare market-making but boost compliance spending

Never before has Wall Street been so excited about volumes of new regulations that will likely result in massive compliance expenditures. In fact, Wall Street's reaction to the final version of the Volcker rule released Tuesday reinforces the old principle that everything is relative.

Iran accord doesn't mean banks can let up on AML

Iran and international policy powerhouses riveted the world Nov. 24 with a multilateral deal that calls for the country to stop enriching uranium beyond a level that could lead to a nuclear bomb....

Banks in political fight over disclosing donations

It's hard to argue against transparency and disclosure when it comes to political donations by publicly traded corporations. Intuitively, shareholders have a right to know how their funds are...

Data and the evolution of the budget

IDC estimates that financial services firms worldwide will allocate more than $430 billion to IT spending in 2014. But as firms weigh how much to budget for data, cloud computing and other hot technology next year, some of these technologies are increasingly becoming part of the budget process in ways other than as line items.

Congress targets patent trolls

Patent trolls--a term patent enforcement companies detest--are demonized in many industries, including the financial services industry, which sports hefty clout in Washington. A sure sign the...

An anthropologist looks at the industry's culture

The tragic death in London of 21-year-old Bank of America Merrill Lynch intern Moritz Erhardt, the efforts of Goldman Sachs to make life for its most junior associates better and the publication of industry-critical The Buyside­ all called attention to what everyone already knows: Wall Street can be a tough place to make a living. It really asks for your soul.

So what's it like to work at a top hedge fund?

There is definitely a seamy side to the hedge fund industry top executives would prefer not to discuss. That underbelly was on full display in Turney Duff's memorable memoir, The Buyside, which...

SROs off to a good start on integrity issues

U.S. stock and option exchange company SROs have come to a general agreement on how to enhance the integrity of the securities markets. The idea is to reduce the sort of glitches that can easily infect the entire market system, examples of which have been all too plentiful as of late.