(Bloomberg) — The U.S. Securities and Exchange Commission is examining whether high-speed traders helped destabilize equity markets during the May 6 crash by repeatedly placing and canceling orders in an attempt to manipulate share prices, a person with direct knowledge of the inquiry said.The strategy is among several practices being investigated by regulators, said the person, who declined to be identified because the probe isn’t public.
Posts Tagged ‘Electronic Trading’
Citadel loses top exec Mohan to CME
May 25th, 2010
Before You Invest (Crain’s) — Citadel Investment Group LLC lost another top executive with the departure of Craig Mohan, who will join CME Group Inc. as a managing director.CME said in a news release today that Mr. Mohan, 41, will develop and manage the company’s co-location and hosting service, to be launched in early 2012.Co-location sites allow traders to place computer equipment closer to financial exchanges to reduce the time it takes to make a trade.Mr.
Morgan Stanley launches MS PORT trading algorithm
March 12th, 2010
Before You Invest Morgan Stanley has announced the launch of new electronic trading platform MS PORT. According to the investment bank, MS PORT utilises more than 70 risk metrics to enable investors to implement trade instructions across multiple portfolios more effectively.By comparing market impact, volatility and assets, traders should be able to reduce costs, achieve better execution and manage risk more efficiently when investing, the bank clarified.Andrew Silverman, global co-head of Morgan Stanley Electronic Trading, said: “The addition of MS PORT to our constantly evolving suite of algorithms underscores our commitment to providing our clients with a complete set of trading tools and solutions to manage their global execution needs.”In a statement the bank added that MS PORT also integrates with MS Analytics, allowing investors to follow each step of a trade.The new electronic trading product is now available in the US and Europe and will be introduced to Asia-Pacific markets later on in the year.Morgan Stanley recently announced the appointment of Jeffrey L Shames and Edmond N Moriaty III to its Investment Management and Global Research teams.The former was employed as chairman and chief executive officer of MFS Investment Management while the latter previously worked as senior vice-president at Merrill Lynch & Co.
Stock Index Rollover Begins Today
March 11th, 2010
Before You Invest Thursday, March 11, 2010 is the start of stock index futures roll-over at both CME Group and ICE Futures U.S.Rollover is when a new contract month becomes the dominant contract in terms of new volume, for both pit (open outcry) and electronic trading sessions. For stock index futures, rollover officially starts one week before the expiration of the nearest contract.
Orange Business Services – Trading Solutions launches Mobile Call Recording Platform in Asia Pacific
October 2nd, 2009
Before You Invest Orange Business Services – Trading Solutions, the leader in convergent voice and electronic trading infrastructure and services for the trading communities, today announced the release of its innovative mobile call recording platform, which enables secure trading via mobile phones.Henri Vautheny, Vice PresidentThe call recording solution is designed with compliance requirements in the forefront and is both secure and cost effective.
Little-known Getco is key player in high-frequency trading
August 28th, 2009
Before You Invest Getco LLC might not be a household name, but the private Chicago-based company with fewer than 250 employees is one of the largest players in high-frequency trading, often accounting for as much as 20% of daily trading volume of many stocks. Getco, which stands for Global Electronic Trading Co., has become one of the five largest traders when measured by volume in stocks and other electronically traded instruments.
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