CHICAGO, July 2 (Reuters)- Technology has long benefited Chicago's futures exchanges, historians say, even though electronic trading is the final blow for its human brokers, rendering obsolete the "open-outcry" futures pits on the trading floor where they have worked for generations. The rough-and-tumble times of the floor were an iconic part of Chicago, and...» Read More
Jan 13- Moody's Investors Service cut its rating on Venezuela to Caa3 from Caa1, saying there was high risk of the country defaulting on its debt due to lower oil prices. The rating agency raised the outlook to "stable" from "negative", with the view that even if the oil prices drop further, the losses to bondholders would be consistent with the current Caa3 rating.
The No. 2 U.S. stock market operator said the SEC had also concluded a separate investigation into the development of order types on the legacy BATS exchanges without taking any action. Exchanges are required under federal securities laws to obtain SEC approval for rules governing how buy and sell orders are matched and to comply with those rules.
Jan 12- BATS Global Markets said on Monday it agreed to pay a record $14 million penalty to settle charges that two exchanges formerly owned by Direct Edge Holdings gave advantages to certain high-frequency trading firms. The U.S. Securities and Exchange Commission said Direct Edge, prior to its merger with BATS a year ago, had selectively disclosed...
Both BATS Global Markets and Nasdaq OMX Group recently said they have held talks with banks on outsourcing some or all of their dark pool operations. In June, the New York attorney general brought a lawsuit against Barclays, accusing the bank of misleading clients in its dark pool. Also in June, dark pool operator Liquidnet agreed to pay the Securities and...
Jan 12- Nasdaq OMX Group has approached several big banks with a proposal to take over the operation of their so called "dark pools," and plans to seek regulatory permission to do so, the Wall Street Journal reported, citing Nasdaq Chief Executive Robert Greifeld. Last month, Citigroup Inc said it would shut down its alternative stock trading venue LavaFlow, at a time...
Stung by the loss of the IPO of Chinese e-commerce firm Alibaba, the Hong Kong stock exchange took a step towards loosening its listing rules.
Keith Fitz-Gerald, Chief Investment Strategist, Money Map Press, says he is shifting his attention away from mergers and acquisitions in the technology field to the financial sector.
Citadel Connect has nearly tripled in the past year, making it one of the largest U.S. dark pools—where investors can trade anonymously.
CME Group said one of its clearing systems was hacked in July and the incident is the subject of a federal criminal investigation.
Goldman Sachs experienced a trading glitch that caused a huge batch of erroneous trades Tuesday. Many may be canceled but the snafu could still cost Goldman upwards of $100 million.
CBOE won a long-running court battle to prevent rival International Securities Exchange from listing options on two key stock market indexes.
After suffering steep losses in one fund, the Yucaipa Companies, the money management firm run by the billionaire Ronald W. Burkle, has cut fees for investors in the portfolio, The New York Times reports.
Nasdaq OMX Group said it will form a joint venture with SharesPost to establish a marketplace for private companies. The stock exchange operator will retain a majority stake in Nasdaq Private Market.
Shares in credit rating agency Moody's fell sharply on Friday as it faces a possible federal fraud lawsuit over its pre-crisis debt ratings.
The U.S. must do more than the recently passed "fiscal cliff" measures if the country is to rescue its Aaa debt rating from its current negative outlook, rating agency Moody's Investors Service said on Wednesday.