Analysis

Panel: Anti-Gaming Shifts to the Background

Anti-gaming techniques have become more incorporated into overall order placement strategy and are no longer the big, standalone topic they once were, according to TradeTech West panelists.

Who Should Pay for the New TCA?

When it came time to announce who will bear the cost of next-generation transaction cost analysis (TCA), the experts had more than one suggestion.

We Can’t Upgrade, the Data Model’s Changed!

Although Knight Capital lost $440 million with just one faulty software upgrade, the cost of system maintenance and product upgrades are far greater, albeit less dramatic, than that much-publicized financial systems failure. Seemingly “simple” software…

Major Banks Complete Swap Trading Standard

The Fixed Income Connectivity Working Group (FICWG) has agreed on a set of standards for the way in which participants in swap trades will interact with execution venues, ahead of regulatory reform.

The Dust Settles in Knight's Arena

It's been two weeks since one of Knight Capital’s systems went haywire and nearly sunk the market-maker. Already, the situation has stabilized, and the industry can start thinking about the bigger picture.

TSE Must Restore Confidence After Second Outage

On Tuesday, the Tokyo Stock Exchange had to halt trading for the second time in six months after a technology glitch hit its derivatives system. With the Knight fiasco fresh in public consciousness and a takeover bid with the Osaka exchange looming,…

Knight Rises—and Falls

A look at Knight Capital's rapid ascent offers a few clues, and hints for lessons to be learned, as details are still emerging from Knight Capital's NYSE algo mishap on Wednesday.

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