Wow. The human touch still matters, says Alpha, this new magazine from the folks at Institutional Investor. A balance between "human interaction and electronic savvy" works well.
Who knew?
Plus: Our first public board members. Plus, plus: Ed Sullivan, Ben E. King, John Lennon, Richard Nixon and your humble blogger's wedding song.
And wait, there's more -- you get this knife that can cut through this brick and still slice a tomato just as thin as you...
Our financial markets have been built upon the premise of transparency. In fact, it would be mighty difficult to effect price discovery without it! So does the explosion of dark pools threaten the basic underpinnings of our markets? Will all the liquidity get sucked into these dark pools at the expense of the fair and virtuous maiden that we call "price discovery"?
...and other links for 27 Sept. 2007.
Here's a comparison of NYSE Arca fees for Tape C (Nasdaq) stocks vs. those other guys. OK, no mystery as to who wins, but we're just saying.
Plus, from the archives: Ike (and the market) suffer an attack; and Her Majesty's a pretty nice girl.
The folks from this incredible education program were here this morning to ring the Opening Bell, and I wanted to share my glimpse at their good work and their great laptop.
NYSE Arca Options has consistently offered the best price FOUR TIMES MORE OFTEN than any other market center for options that are included in the SEC’s penny pilot program.
I don't have the full report, but judging from the chart, it looks to me like the marketplace closest to the optimal "good prices and fast" is none other than NYSE Arca.
A downsized trading floor; don't write the obit for human traders just yet; and record trading volume at last Friday's opening. From the archives: the New Jersey Stock Exchange (hold the Jersey jokes, I was born there) and the Panic of 1869.
A reminder on today's expirations and rebalancings; short interest and margin debt both fell last month; a look at the evolution of the Chicago Merc; and whatever happened to the wall on Wall Street?
Check out this comparison. I've never been very good with numbers, but you don't have to be to see that.
This is perhaps the only business where we constantly talk of expirations and executions but nobody dies as a result.
Transaction fees explained; Fed-day systems status discussed; Sell Short Exempt Orders being eliminated; odd-lot pricing changed; 9/17/01 remembered; bones healed; souls saved.
Sorry, got a bit carried away at the end there.
The more things change, the more they stay the same.
New pricing plan gives customers flexibility in accessing low transaction costs and superior liquidity when trading NYSE and Nasdaq-listed securities.
If you send us an order in one of the 35 penny pilot issues and add liquidity to the book you will receive a credit of $0.30 per contract if your order trades!
We remember out of respect or because we want to or because we cannot escape it, and I'm there on all those. We move on because it's what we are here to do. I mean, moving on is living, is it not? Does it have to mean forgetting?
The SEC is actively encouraging the XBRL (eXtensible Business Reporting Language) trend by providing expedited reviews of registration statements and 10-Ks that use XRBL.
I'm sure you're shocked -- shocked! -- to see that trading volume on NYSE Euronext markets climbed to record levels again in August. Here's our news release on the subject. If you *are* surprised, you really oughtta call in more when you're on vacation.
Plus: bonus quiz -- who said the following?
"Nobody ever lost money taking a profit."
"If all you have is a hammer, everything looks like a nail."
"Never follow the crowd."
Read on for the answer.
NYSE has become the first foreign bourse to win approval to set up a representative office in Beijing. This is another chapter in an unfolding and important history that started with a Nixon-in-China moment in global finance. Plus: the birth of the first SEC chairman and of the Commission itself.
Incentive-based pay for specialists; Liffe's new Guardian; commissions drop; more frequent short-interest reporting; hubris on Wall Street (on Wall Street? I'm shocked -- shocked!); skyrocketing data-message traffic; new ETFs; and on the historical-trivia front: first in film; welcome, Phone; and Abbie Hoffman pays us a visit.
