Orchestral manoeuvres in the darkNew research findings suggest that US trading rules may be providing dark venues a regulatory advantage over traditional stock exchanges by allowing some traders to circumvent time priority. There's also some cynicism over whether the need to hide large block trades is overhyped amid calls for implementation of a "Trade At Rule". Europe, meanwhile, has its own dynamic, with major exchanges like the LSE starting buy side-only order types in its dark pool. Peter Barker reports.
Fair PlayMajor trading venues have historically championed the idea of a level playing field, but critics say the pitch can be decidedly uneven these days. Adam Cox reports on an intensifying debate over whether markets are indeed fair, and what that debate could lead to.
The digital currency (r)evolutionIf bitcoin is the BitTorrent of cryptocurrencies, what's going to be the Spotify?
Alpha in the machineMarco Fasoli started using artificial intelligence and machine learning systems while completing a PhD in natural sciences at Cambridge University. He went on to become a co-founder of Titian Global Investments, applying advanced predictive technologies to financial markets as the firm's managing partner. And he's since acquired another title: co-founder of QuantBridge, a joint venture between Titian and Thayer Brook aiming to become a strategic hub for quant talent. Automated Trader talks to Fasoli about the systems that guide QuantBridge's trading decisions and finds out about his future plans for technology development, which he believes could cause a major shake-up in the retail investor space
Brazil: Cleared for take offThe heart of Latin America skipped a beat this year as Brazil, the world's seventh-largest economy, fell into recession. But the financial system that underpins the beleaguered economy is undergoing changes which could help bolster growth. Sophie Lewisohn reports.
demo-Quant-isationHFT democratisation was a big buzz-phrase a few years ago, and today high frequency technology is spreading across asset classes and geographies, and from signal generating algos to execution. meanwhile, there's talk that quantitative trading is next in line to be "democratised" and people are wondering whether there are any lessons to learn from the HFT experience. Anna Reitman reports.
JWG regulatory trading digestAccording to data compiled by the Wall Street Journal, Reuters and The Huffington Post, since 2009, tier one banks have paid at least $128 billion to regulators in the US and Europe. Here at JWG we decided to do our own research into these astronomical figures, and we discovered that this, in fact, only tells part of the story. When we factor in the associated costs connected with these fines, such as legal fees and losses made by firms from the forced sale of assets, the price tag for the industry increases substantially to total well over $260 billion globally in the 2009 to 2014 period
Who's afraid of smart beta? Though perceived as a threat by some buy side, smart beta should be considered a complement to active fund management said experts and industry practitioners at last week's Smart Beta Europe conference hosted by ETF Strategy and Cass Business School.
Preqin report: 2014 sees alternative assets industry near $7tn in AUM Preqin launches 2015 Global Alternatives Reports. Industry adds $690bn in assets through 2014, up from the $648bn of asset growth seen in 2013.