Raj Mahajan, CEO of Allston Trading, faced a vexing scenario: Regulators increasingly expect firms to be able to explain what traders were thinking at specific times. Such is the state of auditing. For example, "What were you thinking at 12:15 and 22 seconds when you put that order into the marketplace?"
It's a multi-dimensional problem, says Mahajan, who spoke on a panel at Inside Market Data Chicago this week. One has to be able to look at the data and not only understand what was happening in
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails