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
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