Kenneth E. Bentsen, Jr., president and CEO of SIFMA, is calling upon the Securities and Exchange Commission (SEC) to pick up the pace when it comes to a data security proposal for the Consolidated Audit Trail (CAT) system, which is slated to go live in July. The CAT system is the result of SEC Rule… Read More >>
Deutsche Bank Overhauls Equities & Plans to Lay Off 7,000
Deutsche Bank managers will be laying off 7,000 staff members as they “significantly reshape” the equities sales and trading businesses and will retreat from key markets to “concentrate on what we truly do well,” says Christian Sewing, CEO of the firm’s management board, in an official announcement. Timed for its annual general meeting (AGM) on… Read More >>
Deutsche Bank’s Autobahn 2.0 Uses A.I. to Bolster Best Execution
Deutsche Bank is applying artificial intelligence (A.I.) to an upgrade of the proprietary system for trading, Autobahn 2.0, that includes self-learning mechanisms to facilitate more reliable predictions about equities pricing and volume, which should bolster the best execution requirements of the MiFID II reforms. No provider can guarantee best execution compliance as that is the… Read More >>
NYSE Group Advances Pillar Platform Rollout
After completing a key rollout phase last week, NYSE Group officials report that they are continuing to test a new transaction processing system intended to streamline access to equities and options markets. Officials alerted traders about the NYSE Pillar system and its symbol migration steps this past Thursday. “Beginning tomorrow, Friday, February 26, 2016 all… Read More >>
Morgan Stanley Shuffles Execs for the Drive to Electronification
Investment bank Morgan Stanley is signaling its senior leadership directions for sales and trading, and reinforcing the firm’s commitment to the ongoing automation of the firm’s equities and fixed income businesses, according to internal memos obtained by FTF News. One of the memos outlines the firm’s efforts to envision the future while clarifying and easing… Read More >>
PIMCO Strategy Shift Spurs Executive Departure
The Pacific Investment Management Co. (PIMCO) is refining its equities strategies, which will result in the exit of Virginie Maisonneuve, the firm’s chief investment officer for global equities, according to a statement from Douglas Hodge, PIMCO’s CEO. “Equities will continue to be an important part of PIMCO’s investment solutions, including active and enhanced equities which… Read More >>
Etrali Opens Sydney Offices in APAC Push
Etrali Trading Solutions, maker of voice-trading, compliance and unified communication services, has announced that it is opening new offices in Sydney, Australia, the first thrust of a renewed push into the Asia-Pacific (APAC) region, officials say. From its Sydney offices, Etrali will manage its existing Australia client base and “support the growing demand for compliance… Read More >>
KCG Appoints a CFO
Jersey City, NJ-based KCG Holdings, Inc. has named Steffen Parratt chief financial officer, effective immediately, officials say. He takes over from interim CFO Sean Galvin, who will return to his post as the company’s chief accounting officer. KCG Holdings, which was known formerly as Knight Capital Group, was acquired by Getco LLC in 2012. Following… Read More >>
PIMCO Hires Two for Equities Move
Newport Beach, CA-based PIMCO, aka the Pacific Investment Management Co., hitherto best known for its mutual funds management and fixed-income investing prowess, has hired equities specialists Giles Money and Lucrecia Tam as new senior vice presidents. Money will be a portfolio manager focused on global growth equity strategies and Tam will be an equity analyst… Read More >>
