Tag Archives: SEC

Former Knight Capital CEO Thomas Joyce’s Email and Credit Card Information Hacked by Anonymous

Posted on September 12, 2013 by Innovator

The personal electronic address and credit card information of Thomas Joyce, former Chief Executive Officer of Knight Capital, was in a database of Stratfor’s clients that was hacked by Anonymous on December 25, 2011, it was revealed in the book … Continue reading →

Posted in Equity Markets, Food for Thought, knight capital, Market Making, NASDAQ, NYSE, Practitioners, SEC | Tagged Anonymous, August 1, Barron’s, business thriller, Daniel Coleman, Dazzlepod, DMM, Edgar Perez, Electronic Trading, GETCO, hacktivists, intelligence briefing, KCG, KCG Holdings, Knight capital, KNIGHTMARe ON WALL STREET, market making, private intelligence agency, SEC, Shadow CIA, Strategic Forecasting, Stratfor, The Speed Traders, Thomas Joyce, Tom Joyce, trading error | Leave a comment

BLOOMBERG: CFTC Seeks Comment on Potential High-Speed Trading Curbs

Posted on September 10, 2013 by Innovator

As reported by Bloomberg’s Silla Brush, the U.S. Commodity Futures Trading Commission (CFTC) is seeking comment on whether to require registration for automated trading firms, taking a first step in potential restrictions on high-speed and algorithmic derivatives trading. CFTC members … Continue reading →

Posted in CFTC, CME Group, Finance, Flash Crash, High Frequency Trading, Regulatory Updates, SEC | Tagged algorithmic derivatives trading, automated trading firms, Bart Chilton, CFTC, CFTC Chairman Gary Gensler, CFTC commissioner, CME Group, Commodity Futures Trading Commission, computer malfunctions, concept release, DRW Holdings, Electronic Markets, exchange-trading, flash crash, Flash Freeze, flawed algorithms, floor-based trading, Futures exchange, Futures Industry Association, Gary Gensler, high-frequency and algorithmic trading, high-speed trading, High-Speed Trading Curbs, high-speed trading strategies, human speed, infinium capital management, insufficient testing, KNIGHTMARe ON WALL STREET, maximum number of trading orders, Nasdaq Stock Market, principal traders group, RGM Advisors, risk controls, Scott O'Malia, SEC, Securities and Exchange Commission, Silla Brush, software error, supervision, system safeguards, systemic risks, testing, top U.S. derivatives regulator, U.S. futures markets | Leave a comment

OPEN LETTER to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Posted on September 9, 2013 by Innovator

Dear chairman Mary Jo White, As informed by NASDAQ after the August 22 incident, price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. There was a connectivity issue, which led to degradation in the … Continue reading →

Posted in CFTC, Equity Markets, FINRA, High Frequency Trading, knight capital, NASDAQ, NYSE, Regulatory Updates, SEC, Wall Street | Tagged CFTC, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, KCG Holdings, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Jo White, Mary Schapiro, Michael Tobin, Microsoft, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, SEC Chairman, shareholders, SIFMA, software, The Flash Freeze, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, TheFlashFreeze, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street | Leave a comment

On Heels of Recent Outage, NASDAQ Suffers Another Knightmare on Wall Street

Posted on September 5, 2013 by Innovator

The Wall Street Journal’s Jacob Bunge reports that just ahead of a meeting Wednesday to discuss last month’s unprecedented three-hour trading outage, Nasdaq officials got another unexpected jolt: The main data feed for Nasdaq Stock Market-listed stocks went down again. … Continue reading →

Posted in Breaking News, Equity Markets, Flash Crash, NASDAQ, NYSE, SEC, World Exchanges | Tagged back-end server, benchmark-pricing information, brief outage, Chief Executive Officer, Data Feeds, Data-feed operators, Direct Edge Holdings, Edgar Perez, electronic messages, exchange-traded products, financial firms, hardware memory failure, Interactive Brokers, investors, Jacob Bunge, Kaitlyn Kiernan, KNIGHTMARe ON WALL STREET, listed stocks, market making, multiple data feeds, Nasdaq, Nasdaq OMX Group, NYSE Arca, price quotes, quotations, regulators, Robert Greifeld, SEC, Securities and Exchange Commission, Securities Information Processor, securities prices, SIP, software failure, Steve Sosnick, stock exchanges, stock market, systems testing, three-hour trading outage, tickers, Timber Hill, U.S. stock and options exchanges, unusually high traffic, William O'Brien | 1 Comment

Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Posted on August 23, 2013 by Innovator

Knightmare on Wall Street‘s author, Edgar Perez, chastised U.S. regulators for their performance during NASDAQ’s “Flash Freeze”. Market participants appreciate visible leadership that goes beyond statements sent though press offices, he said. “Both individual and institutional investors would have felt … Continue reading →

Posted in Equity Markets, Events, FINRA, Flash Crash, High Frequency Trading, knight capital, NASDAQ, NYSE, Regulatory Updates, SEC, Wall Street | Tagged CFTC, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, KCG Holdings, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Jo White, Mary Schapiro, Michael Tobin, Microsoft, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, SEC Chairman, shareholders, SIFMA, software, The Flash Freeze, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, TheFlashFreeze, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street | Leave a comment

Bob Greifeld, Nasdaq Chief, Defends Handling of Trading Halt

Posted on August 23, 2013 by Innovator

The New York Times report that the chief executive of the Nasdaq stock exchange, Robert Greifeld, on Friday shot back at criticism of how his exchange handled a three-hour halt in trading on Thursday afternoon. Mr. Greifeld said in an … Continue reading →

Posted in Equity Markets, Market Making, NASDAQ, NYSE, SEC, World Exchanges | Tagged Bob Greifeld, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Jo White, Mary Schapiro, Microsoft, Nasdaq, Nasdaq OMX, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Robert Greifeld, SEC, software, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, traders, trading disaster, Virtu Financial, Wall Street | Leave a comment

Nasdaq Glitch Prompts Two-hour Shutdown and Fears Over Stability

Posted on August 23, 2013 by Innovator

The Guardian reports that a glitch in the Nasdaq stock market resulted in an unprecedented shutdown of trading of over 2,000 major US stocks and options for more than two hours, creating confusion around the shares of the biggest companies … Continue reading →

Posted in Breaking News, Equity Markets, High Frequency Trading, knight capital, NASDAQ, NYSE, SEC | Tagged Barbarians at the Gate, BATS, Book Review, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Schapiro, Michael Tobin, Microsoft, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, shareholders, software, Steven Sadoff, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street, Walter Raquet, When Genius Failed | Leave a comment

Nasdaq Investigating Problem That Forced Trading Halt, No Answers Yet

Posted on August 22, 2013 by Innovator

Forbes’ Steve Schaefer reports a technical issue led the Nasdaq stock market to halt all trading in shares listed on its exchange, and request fellow exchanges do the same. The New York Stock Exchange acknowledged it had done so at … Continue reading →

Posted in Breaking News, Dark Pools, Equity Markets, High Frequency Trading, knight capital, NASDAQ, NYSE, SEC | Tagged Bob Greifeld, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, investors, Jersey City, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Jo White, Mary Schapiro, Nasdaq, Nasdaq OMX, New York Stock Exchange, NYSE, operational risks, Robert Greifeld, SEC, software, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, traders, trading disaster, Virtu Financial, Wall Street | Leave a comment

Trading Halted in Nasdaq Securities like Facebook, Microsoft and Apple… Did the NASDAQ Guys Read Knightmare on Wall Street?

Posted on August 22, 2013 by Innovator

According to The Wall Street Journal, U.S. stock exchanges on Thursday just halted trading in all securities listed on NASDAQ because of a technical issue, exchange officials said. NASDAQ announced the halt at 12:15 p.m. ET Thursday, and other exchanges … Continue reading →

Posted in Dark Pools, Equity Markets, Flash Crash, High Frequency Trading, NASDAQ, NYSE, SEC | Tagged $440 million, algorithmic trading, apple, August 1, Barbarians at the Gate, BATS, Book Review, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Schapiro, Michael Tobin, Microsoft, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, shareholders, software, Steven Sadoff, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street, Walter Raquet, When Genius Failed | 1 Comment

Knightmare on Wall Street Book Review: How Knight Capital Fumbled its Best Opportunity to Shine

Posted on July 31, 2013 by Innovator

Ever since the Knight Capital trading disaster broke in August 1, 2012, investors and traders have been morbidly fascinated by the incident. How had so sophisticated a company managed to burn though $440 million in a bit more than half … Continue reading →

Posted in Breaking News, Equity Markets, High Frequency Trading, knight capital, Market Making, NASDAQ, NYSE, SEC, Wall Street | Tagged $440 million, algorithmic trading, August 1, Barbarians at the Gate, BATS, Book Review, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Schapiro, Michael Tobin, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, shareholders, software, Steven Sadoff, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street, Walter Raquet, When Genius Failed | 5 Comments

Tag Archives: SEC

Former Knight Capital CEO Thomas Joyce’s Email and Credit Card Information Hacked by Anonymous

BLOOMBERG: CFTC Seeks Comment on Potential High-Speed Trading Curbs

OPEN LETTER to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

On Heels of Recent Outage, NASDAQ Suffers Another Knightmare on Wall Street

Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Bob Greifeld, Nasdaq Chief, Defends Handling of Trading Halt

Nasdaq Glitch Prompts Two-hour Shutdown and Fears Over Stability

Nasdaq Investigating Problem That Forced Trading Halt, No Answers Yet

Trading Halted in Nasdaq Securities like Facebook, Microsoft and Apple… Did the NASDAQ Guys Read Knightmare on Wall Street?

Knightmare on Wall Street Book Review: How Knight Capital Fumbled its Best Opportunity to Shine

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