Algorithmic trading

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/Algorithmic trading

Computer systems fingered in flash crash probe

An over-reliance on computer systems and high-frequency trading were the biggest contributors to the 6 May flash crash that saw a dizzying plunge in the Dow Jones Industrial Average, according to a poll of retail financial advisors.

/Algorithmic trading

Osaka Securities Exchange disciplines Deutsche Bank over algo trading error

Deutsche Bank has been hit with an "admonition" by the Osaka Securities Exchange over a problem with a trading algorithm in June that saw sell orders worth Y16.7 trillion made by mistake.

/Algorithmic trading

Code issue complicates Goldman plan to spin off prop trading unit - CNBC

Goldman Sachs' plan to spin off its proprietary trading business has run into trouble because the investment bank does not want to give the new entity access to its specially designed computer language, according to CNBC.

/Algorithmic trading

Instinet launches US options dark pool

Electronic trading and brokerage giant Instinet has launched a dark liquidity pool for US listed options.

/Algorithmic trading

Over half of capital markets firms do not have real-time market surveillance

Over half of capital markets firms do not use real-time market surveillance and monitoring tools despite a general recognition in the industry that greater transparency is needed to deal with abuse and irregular activity, according to a survey from Progress Software.

/Algorithmic trading

SunGard buys algo trading tech outfit Fox River Execution

Fintech giant SunGard has acquired Fox River Execution, a broker dealer provider of algorithmic trading technology and execution offerings to institutional firms focused on equities ETFs. Financial terms were not disclosed.

/Algorithmic trading

CFTC posits new disaster recovery rules as regulators probe 'algo price pirates'

The US Commodity Futures Trading Commission (CFTC) has proposed new rules that would require exchanges and clearing houses to establish disaster recovery procedures in the event of a market-wide disruption.

/Algorithmic trading

Chi-X set for Japan launch

Chi-X Global is set to start offering trading in Japanese stocks later this month after its subsidiary in the country received regulatory approval.

/Algorithmic trading

Circuit breaker called into action after Citi trade spooks market

The circuit breaker mechanism introduced in the wake of last month's flash crash was called in to action yesterday when a reporting error saw shares in Citi plunge 17%.

/Algorithmic trading

SEC staffer's move to Getco prompts review of 'revolving door'

A US Senator has called on the Securities and Exchange Commission to review its "revolving door" policy, which sees many senior staffers leave for jobs with firms they once regulated.

/Algorithmic trading

Credit Suisse unveils fixed income algo platform

Credit Suisse has introduced a new algorithmic trading platform, Onyx, for fixed income dealing direct with the bank's US Treasuries trading desk.

/Algorithmic trading

Barclays Capital to launch dark pool for European equities

Barclays Capital plans to launch a pan-European dark pool for equities trading in the third quarter, building on the US platform it inherited from its acquisition of Lehman Brothers in 2008.

/Algorithmic trading

CFTC proposes co-location rule

The US Commodity Futures Trading Commission (CFTC) is calling for a new rule governing co-location in a bid to level the playing field for traders.

/Algorithmic trading

Knight takes Equiduct stake

US broker Knight Capital is set to make a strategic investment in Equiduct, the pan-European equities trading platform majority-owned by Citadel. Terms of the deal, which remains subject to Equiduct shareholder approval, were not disclosed.

/Algorithmic trading

ASX cuts fees and overhauls tech ahead of Chi-X challenge

The Australian Securities Exchange (ASX) has outlined plans to slash its trading fees and introduce a system aimed at high frequency traders as it prepares to face up to new competitor Chi-X.

/Algorithmic trading

SGX invest $250m in 'world's fastest' trading engine

The Singapore Exchange (SGX) has outlined plans to spend $250 million and tap technology from Nasdaq OMX to build what it claims will be the world's fastest trading engine.

/Algorithmic trading

CME taps Citadel exec to head new co-location programme

The Chicago Mercantile Exchange has hired Citadel executive Craig Mohan to spearhead a new co-location and data centre push aimed at the high frequency trading market.

/Algorithmic trading

CFTC ready to bin the fax as it tries to get to grip with tech-driven markets

The US Commodity Futures Trading Commission is to establish a technology advisory committee after admitting that it struggles to keep pace with technological advances and that it continues to use faxes and manual entry forms for reviewing trading account data.

/Algorithmic trading

Flash crash prompts circuit breaker roll-out

The Securities and Exchange Commission (SEC) has called for uniform circuit breakers on all S&P 500 stocks in response to the "flash crash" that caused mayhem earlier this month.

/Algorithmic trading

'Flash crash' post-mortem points to high speed trading curbs

Curbs on high speed trading in US markets appear inevitable as policymakers pore over the sequence of events that led to the dizzying plunge in the Dow Jones Industrial Average last week.