Sam Mamudi, Bloomberg

IEX reaches 1% market share

Sam Mamudi, Bloomberg
November 13, 2014
IEX Group Inc., whose founder Brad Katsuyama is featured in the current issue of Futures, hit the 1% market share threshold in U.S. equities trading.

High frequency trading inquiry

Sam Mamudi, Bloomberg
August 6, 2014
The settlement talks follow a U.S. Securities and Exchange Commission inquiry begun more than two years ago into key facets of modern markets, including order types -- or instructions for handling transactions that traders can send to exchanges.

Does speed kill, markets?

Sam Mamudi, Bloomberg
February 20, 2014
Trading is now effectively non-stop, with transactions measured in millionths of a second. Budish, an associate professor of economics at the Booth School of Business, proposes to instead segment trading into thousands of auctions throughout the day.

Bats-Direct Edge merger puts broker-owned venues back on top

Sam Mamudi, Bloomberg
January 31, 2014
Bats Global Markets Inc.’s merger with Direct Edge Holdings LLC will put a broker-owned stock exchange operator in the top ranks on Wall Street for the first time since NYSE Euronext and Nasdaq OMX Group Inc. went public.

Knight Capital agrees to $12 million settlement for 2012 errors

Sam Mamudi, Bloomberg
October 17, 2013
Securities regulators fined Knight Capital Americas LLC $12 million for the trading malfunction that roiled the U.S. stock market in August 2012, saying the firm ignored dozens of error messages before its computers bombarded exchanges with millions of unintended orders.

NYSE open to major changes in market structure debate, CEO says

Sam Mamudi, Bloomberg
October 10, 2013
NYSE Euronext, the biggest U.S. stock exchange owner, is willing to consider major changes to how it does business as part of a discussion on reworking the structure of American markets, according to Chief Executive Officer Duncan Niederauer.

Stock rules too complex to official at NYSE’s imminent owner

Sam Mamudi, Bloomberg
October 8, 2013
IntercontinentalExchange executive says rules governing U.S. equities trading have made the market vulnerable to breakdowns.

Exchanges’ credit ratings at risk amid computer errors, S&P says

Sam Mamudi, Bloomberg
September 19, 2013
Technical malfunctions at stock exchanges around the world are putting their owners’ credit ratings in jeopardy.

Nasdaq CFO says complexity is obstacle to smooth-running markets

Sam Mamudi, Bloomberg
September 10, 2013
The complexity of U.S. stock-market structure is the “biggest obstacle” to ensuring systems run without failing, Nasdaq OMX Group Inc. Chief Financial Officer Lee Shavel said today.

Nasdaq halts trading in stocks, options amid computer error

Sam Mamudi, Bloomberg
August 22, 2013
Computer errors shook American equity markets again today as malfunctioning software that feeds data between exchanges prompted Nasdaq Stock Market to halt trading in stocks and options.