Operational Alpha

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Mar 4, 2014

Posted By: Alex Zinny

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About 10 years ago I joined a firm that was able to deliver FIX connectivity to just about any destination - a feature that put us ahead of the game at the time. This firm’s ability to identify and fix operational inefficiencies enabled other firms, both large and small, to benefit. Since then, much of the industry has matured. Almost every b... Read More

Devising a Smarter Approach to Client On-boarding and Certification

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Jan 13, 2014

Posted By: Jacob Northey

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The following is a guest blog from Candyce Edelen of PropelGrowth. It originally appeared on Markets Media and Wall Street and Technology. The timeless challenge for new trading venues is to attract clients to connect before they have substantial liquidity. IEX Trading was confronted with this issue as it launched its new trading platform in ... Read More

Why Traditional Testing Doesn’t Catch Nasty Race Condition Bugs

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Jan 7, 2014

Posted By: Jacob Northey

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Typically the testing being performed by exchanges involves a combination of manual functional testing and load testing using simple, repetitive scripts. But in the current marketplace, relying on this approach to verify the stability and reliability of systems is no longer enough. Manual testing by nature is slower to perform and not entirel... Read More

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