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Dick Grasso: Today’s Markets Aren’t Fair

Turmoil in August was a sign something was awry with capital markets, former NYSE chief Richard Grasso says<p>The former head of the New York Stock Exchange says modern markets have sacrificed fairness for speed.<p>Richard Grasso, chairman and chief executive of the NYSE from 1995 to 2003, said in an …

Stock Markets

The problems of HFT, Joe Stiglitz edition

Never mind Michael Lewis. The most interesting and provocative thing to be written of late about financial innovation in general, and high-frequency trading in particular, comes from Joe Stiglitz. The Nobel prize-winning economist delivered a wonderful and fascinating speech at the Atlanta Fed’s …

Algorithmic Trading: Setting the record straight

<i>Kunal Nandwani</i><p>Over the years, stock exchanges around the world have been increasingly leveraging technology to build more sophisticated, faster and …

Fake News Report Spikes Twitter's Shares

Twitter pares gains. Bloomberg’s Ty Trippet tweets “This is a fake story. Not a Bloomberg story.” Bloomberg's Julie Hyman reports on “Bloomberg …

Fake News

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We believe the current blanket application of CRR to banks and investment firms, without distinguishing between firms by activity or size, has a …

Beware of Greeks Bearing Bonds

As Wall Street hangs on the question “Will Greece default?,” the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country’s economic insanity. But beyond a $1.2 trillion debt (roughly a quarter-million dollars …

Can You Really Game Index Funds?

You don't have to 'front-run' to outpace them.

REPORT: The Big Picture: A Cost Comparison of Futures and ETFs

<b>Scenario: Fully-Funded, Roll Cost at a Premium to 3-month USD-Libor</b><p>E-mini S&P 500 futures are more cost effective than ETFs for all investors when …

HFT Powerhouse Amsterdam Glimpsed Through Speed-Trader IPO

Flow Traders BV’s initial public offering will give the world another glimpse into the workings of a high-frequency trading firm. It also shines a …

Stock Markets

The Real Reason Why There Is No Bond Market Liquidity Left

Back in the summer of 2013, we first commented on what we called "Phantom Markets" - displayed quotes and prices, in not only equities, FX and …

Investing

Financial Innovation and Market Structure

By<p>High-frequency trading (HFT) is a topic we come across a great deal these days. Since the publication of Michael Lewis’s <i>Flash Boys</i> in March 2014, …

Slings and arrows - International banking

Special report<p>International bankingSlings and arrows<p>FROM THE WAY Silicon Valley talks about banking, you might well conclude that the industry was …

Goldman Sachs

Clearing houses are big risk, top U.S. federal researcher says | Reuters

WASHINGTON (Reuters) - Clearing houses, whose role to guard financial stability was much expanded after the 2007-09 crisis, now pose threats themselves, the head of the top U.S. financial research agency told Reuters on Friday.<p>Office of Financial Research Director Richard Berner answers a question …

Victorian Era

EU Commission to Study Transaction-Tax Compromise Options

The European Commission will study possible compromises on an 11-nation financial-transaction tax plan, spokeswoman Vanessa Mock said.<p>Finance …

Europe

Harshest Algorithmic, High-Frequency Trading Controls on Tap for EU Traders | Bloomberg Professional Services

<i>This analysis is by Bloomberg Intelligence analyst Sarah Jane Mahmud. It originally appeared in Bloomberg Brief | Financial Regulation.</i><p>Algorithmic …

High-Frequency Trading

Are Data Centers that Host Exchanges Utilities?

Swedish regulators are seeking to fine Nasdaq OMX for alleged anti-competitive practices in the Nordic colocation business. This case is fairly …