Author Archives: admin

Open Source Code At Heart of Wall Street Programmer’s Bust

Programmers and Wall Street haters alike may join together to support a convicted computer programmer from Goldman Sachs after reading the full-throated defense he receives at Vanity Fair by noted financial journalist Michael Lewis. Lewis, the former Salomon Brothers banker known for breaking down … Continue reading

Posted in Articles, Dark Pools, Finance, High Frequency Trading, Regulatory Updates, Wall Street | Tagged , , , , , , , | 1 Comment

Michael Lewis Talks Goldman Sachs, Totalitarianism, And High Frequency Trading In A Q&A With Vanity Fair

In this month’s issue of Vanity Fair, Michael Lewis wrote a compelling piece on Serge Aleynikov, the former Goldman Sachs computer programmer convicted of stealing the bank’s secret algorithms. Now there’s a Q&A with Lewis about the article on VF’s site. If you haven’t read the … Continue reading

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High Frequency Trader “Spoofs” and “Layers” his Way to Penalties from U.S and British Regulators

On July 22, 2013, regulators from the United States Commodity Futures Trading Commission (CFTC) and the British Financial Conduct Authority (FCA) fined high frequency trader Michael Coscia (and his firm Panther Energy Trading) for engaging in spoofing transactions for the … Continue reading

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SAC Charges Another Win for Machines Over Human Traders

In pursuing and winning an indictment of SAC Capital Advisors LP, federal prosecutors are intent on shuttering one of the largest and most successful stock-trading hedge-fund firms in Wall Street history. If they succeed, it will also mark the effective … Continue reading

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Beware the Alpha Sharks! High Frequency Trading and Its Impact on Markets

  Maureen O’Hara, professor of finance at Cornell University, and member of the Systemic Risk Councilhas a warning to traditional investment managers, i.e., low frequency traders (LFT): High frequency trading(HFT) is now the norm, and it is not going away. Continuing to … Continue reading

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Traders attack plans for UK tax on HFT

Senior traders and analysts have strongly criticised plans for a UK financial transactions tax on high frequency trading, which was proposed today by a group UK MPs conducting a study into the Kay review on UK equity markets. The UK’s … Continue reading

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U.K. Lawmakers Urge Tax on High-Frequency Trading

The U.K. government should consider introducing a transaction tax on high-frequency trading to deter very short-term investors, a panel of lawmakers said. Such a levy could be used to help implement the findings of economist John Kay’s 2012 review of … Continue reading

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High frequency trader fined more than $3m by regulators

Financial regulators in the UK and US have fined a high frequency trader and his firm more than $3m (£1.95m) for manipulating commodities markets. The UK’s Financial Conduct Authority (FCA) fined Michael Coscia $903,176, while two US regulators levied the … Continue reading

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High-frequency trading firm Panther Energy fined in ‘spoofing’ case

A high-speed trading firm in New Jersey and its owner agreed to pay $2.8 million to settle federal charges that they used a disruptive market trading practice that was banned by Congress when it passed a major financial overhaul measure three … Continue reading

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U.S. regulators scrutinize risk controls for high-frequency trading

NEW YORK –  U.S. regulators are taking a deep look at automated trading firms to determine whether adequate risk controls are in place to prevent major technology glitches or at least minimize their impact. The Financial Industry Regulatory Authority said … Continue reading

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