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.
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.
For today's financial firms, information security is a battle fought on many fronts. On one hand, firms are reaching out to deliver data on tablets and mobile phone and to tap services on private clouds. At the same time, internally firms are integrating disparate silos of information and collecting "big data" to create deeper and more detailed views of the enterprise.
On Tuesday, the country's largest stock exchanges announced that they have agreed to a plan to strengthen markets, in response to regulators' demands for changes that would stem the tide of market disruptions. Details were few but the news was welcome. On the same day, one of the newest US stock trading venues announced it was taking its own steps to avoid trading disruptions.