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STANY is the voice of the trading community in the Great New York City area. STANY represents individuals, engaged in the buying, selling and trading of securities. STANY does not represent a single business or business model, but rather provides a forum for trading professionals from institutions, broker-dealers, ECNs, ATSs and systems providers to share their unique perspectives on issues facing the securities markets. Our members work together to promote their shared interest in efficient, liquid markets, as well as their concern for investor protection. We believe that strong and efficient markets require an appropriate balance between effective regulation and innovation and competition.

Stories of interest highlighted are do not necessarily reflect the opinions of the STANY Board or the membership. We hope that you will find the articles chosen to be of interest and the links to the left to be a quick resource to other news stories and market information. 

US SEC's Piwowar says skeptical of FINRA's data collection proposal

Securities and Exchange Commissioner Piwowar expressed skepticism on Thursday about FINRA's plan to launch a trading data collection program, saying it may raise privacy concerns. Read the full article on Reuters.

Study by CFTC official questions legality of HFT practice

A study by Greg Scopino, of the Division of Swap Dealer and Intermediary Oversight for the CFTC, argues that the activity of high-speed pinging might be a violation of the Commodity Exchange Act. Read the full story on Market Watch.

Bond Traders Vanishing as Liquidity Evaporates

Slumping fixed income revenues are driving bond traders from the European markets. Regulations introduced since the financial crisis, are eroding the financial rewards of trading and prompting banks to reduce their inventories of securities. Read the full story on Bloomberg Business.

Which corporate bond trading platforms are lost causes?

LONDON, Feb 13 (IFR) - Around 30 e-trading platforms are currently competing to address the liquidity crisis in corporate bond trading, but market players say most will fall by the wayside in the months ahead.Read the full story on Reuters.

Pressure builds to move more FX trading onto exchanges

Feb 16 (Reuters) - International regulators struggling to rein in the $5 trillion-a-day global foreign exchange market are finally finding some support from asset managers warming to the idea of moving more trading onto exchanges. Read the full story on Reuters.

Transformers: The Evolving State of Fixed Income Market Structure

Watch the TabbForum discussion on the need for new technology and a crisis-resistant infrastructure to transform the fixed income markets featuring Matthew F. Andresen, CEO, Headlands Global Markets; Isaac Chang, Global Head of Fixed Income, KCG; Bill Gartland, Senior Director, Evaluated Services, Interactive Data; Mark Monahan, CEO, MTS Markets International; and Michael Ziegelbaum, Managing Director, Head of Electronic Sales and Trading, Mizuho Securities – and moderator Paul Rowady, Principal and Director of Data and Analytics Research for TABB Group.Watch at TABB.

The Effects of Conflicted Investment Advice on Retirement Savings

President Obama has directed the Department of Labor to move forward with its redraft of rules to amend the definition of fiduciary under the Employee Retirement Income Security Act"to protect families from bad retirement advice by requiring retirement advisers to abide by a 'fiduciary' standard—putting their clients’ best interest before their own profits." For a full report on The Effects of Conflicted Investment Advise on Retirement Savings click here.

US Equity Market Structure: Blizzard or a Flurry?

Liquidnet's Adam Sussman attempts to make sense of the flurry of recent market structure proposals and provides an excellent cheat sheet. Read the full article and check out the cheat sheet at TabbFORUM.