Taking on Systemic Risk with Automated Testing

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Dec 11, 2013

Posted By: Jacob Northey

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Systemic risk has become a very real threat to our global financial system given our reliance on a web of complex systems and relationships for managing trades. Playing into this issue is that brokers and exchanges often find it hard to predict how their systems will handle erroneous or unexpected requests from their counterparties. This is ofte... Read More

8 Things You Should Know About Current and Upcoming Regulations from FIX Americas Regulatory Briefing

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Nov 22, 2013

Posted By: Jacob Northey

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The annual fall FIX event in New York was a little different this year. In the past the format was many different concurrent sessions separated into technical topics and business topics. This year the event was contained to a single afternoon and everybody congregated in a single room. The format was simple: 55 minute panels followed by 35 minu... Read More

Nasdaq, Human Error Strikes Again: Index Data Glitch Causes Freeze

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Oct 29, 2013

Posted By: Jacob Northey

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In what seems to be a never ending string of glitches taking place on the markets, another issue has occurred today. Earlier this morning, “human error” caused an outage for 44 minutes in Nasdaq index data just before lunchtime. In a statement, Nasdaq said "the disruption was caused by a human error performing an operational function whic... Read More

Seconding a nomination for CFTC Chairperson made by John Lothian

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Oct 17, 2013

Posted By: Jim Northey

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We try not to be too political here at Lasalletech, but we certainly have invested considerable time in promoting standards and helping with regulatory response. And we understand ours is but a small voice in the crowd, but we felt it worth echoing a call made by John Lothian a couple of weeks ago in his newsletter. Fortunately the US still d... Read More

Knight Capital Agrees to $12 Million Settlement with SEC

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Oct 17, 2013

Posted By: Jacob Northey

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Yesterday, on October 16th , the SEC announced that Knight Capital Americas, LLC has agreed to pay a $12 million fine for violating the market access rule during its infamous trading incident that took place on August 1, 2012. During the incident, Knight sent more than 4 million erroneous orders in 140 stocks listed in the New York Stock Exchang... Read More

Technology Testing Culture at Exchanges Threatens Markets

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Sep 11, 2013

Posted By: Jacob Northey

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Without a new approach to testing, incidents like the recent NASDAQ trading glitch and last summer’s Knight Capital mess will inevitably keep popping up and weakening the strength and reputation of our markets. Exchanges need to adopt an approach that tightly integrates testing into development. An iterative process in which testing and develo... Read More

Why Your Clients Will Prefer Automated Testing

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Jun 20, 2013

Posted By: Jacob Northey

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Sometimes for a new client, there is nothing more frustrating than having to learn something new. In the world of FIX certification, manual onboarding processes can not only take up to 6 months, but can also cause countless headaches and hours of frustration for support teams and clients. The ping-pong effect of finding and fixing errors... Read More

What Could Have Prevented the Facebook IPO Bungle?

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Jun 5, 2013

Posted By: Amber Voght

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Just over a year ago during the Facebook initial public offering on May 18, 2012, the Nasdaq violated securities laws due to its “poor systems and decision-making.” Errors in Nasdaq’s computer programming started some confusion, but it was the decision from executives at the exchange who decided to proceed with the trading and igno... Read More