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Automated Trader Update: From computer code to a code of conduct?

First Published 4th April 2013

Automated Trader Q2 edition coming soon, CFTC's Bart Chilton's "bill of rights", NASDAQ buys eSpeed, Numerix & JP Morgan announce quant research results, VW Brazil selects Bloomberg FXGO, Perseus releases Certified Time, Quantopian debuts Fetcher, Instinet joined IPC's Connexus, Algo-Logic Systems presents demo, All Options adopts Tbricks platform, BATS provides free market quality reports, Chi-X Australia names CEO, Mary Schapiro joins Promonotory

The Q2 edition is on its way. Automated Trader will soon begin publishing articles from the new magazine. In this edition, we focus on artificial intelligence. How much is hype, or are there genuinely successful techniques out there? We also have our usual roster of high-profile interviews and in-depth articles. We'll kick off in the coming days with a far-ranging discussion with Manoj Narang, head of New Jersey-based Tradeworx. Stay tuned!

Industry developments

Will high frequency traders ever need to register and adhere to conduct rules? If the CFTC's Bart Chilton gets his way, they might, although he'd need to get the support of other commissioners to start to make that a reality. Find out about his other ideas in his derivatives end user "bill of rights".

NASDAQ aims to capture a big slice of the US Treasuries market with the purchase of eSpeed platform in a deal worth as much as $1.23 billion.

Numerix and JP Morgan revealed the results of their latest quantitative research paper: "USLV: Unspanned Stochastic Local Volatility Model".

Products and services

Volkswagen Brazil selected Bloomberg's FXGO to manage foreign exchange exposure in Brazil & Argentina, with plans to deploy the platform across South America.

Perseus Telecom announced Certified Time, an official government timestamp for trading between Chicago, New York & London, available at Savvis, Equinix and Telx data centres

Quantopian released Fetcher, a capability enabling users to import any external dataset into the browser-based platform.

Instinet joined IPC's Connexus enabling access to Instinet trading tools including the Newport 3 EMS, the Execution Experts algos and Instinet's low-latency SmartRouter.

Fitch Solutions joined Bloomberg PolarLake Managed EDM Service to provide credit rating data.

Algo-Logic Systems will present a live demo of its newest FPGA-accelerated Market Data Filtering (MDF) application.

All Options adopted Tbricks market making platform for all of its European equity options and stock-index options activities.

ITG and its broker-neutral crossing network MATCH Now completed their technology migration into TMX's recently expanded co-location facility.

A group of Nordic banks selected SunGard's Ambit Risk and Performance solutions to address tighter regulation and compliance.

BATS will provide no-fee market quality reports on how securities trade on different US exchanges.

People in the news

Chi-X Australia appointed John Fides, previous holder of capital markets roles at MSCI, Morgan Stanley, Instinet and GETCO, to replace Peter Fowler as its new CEO, effective 1st May.

Former SEC Chairman Mary Schapiro has been named chairman of the governance and markets practice at consulting firm Promontory Financial Group.