Tag Archives: SEC

>Teflon Stevie, forever?

>Just as the days of the teflon market are coming to an end, so slowly prosecutors are finally discovering all the grizly details of how one make billions of dollar year after year without fail. And when they put the full picture together, teflon Stevie is next.


Insider Selling To Buying: 2,341 To 1 | zero hedge

Insider Selling To Buying: 2,341 To 1

Insider Selling To Buying: 2,341 To 1 | zero hedge

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The MasterFeeds

On Tomorrow’s Secret Meeting To Plot The End Of High Frequency Trading | zero hedge

On Tomorrow’s Secret Meeting To Plot The End Of High Frequency Trading

On Tomorrow’s Secret Meeting To Plot The End Of High Frequency Trading | zero hedge

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Financial Times: High-frequency trading: Up against a bandsaw

May 24 2010 4:51 PM GMT
High-frequency trading: Up against a bandsaw

By Jeremy Grant

The global spread of high-frequency trading

Read the full article at: http://www.ft.com/cms/s/0/ec822fb4-366d-11df-8151-00144feabdc0.html

Sent from my iPad

>- Manila exchange glitches puzzle brokers – FT.com / FT Trading Room


Manila exchange glitches puzzle brokers

By Roel Landingin in Manila

Published: September 1 2010 17:02 | Last updated: September 1 2010 17:02

The Philippine Stock Exchange describes it as “birth pains”. But market participants in Manila have been scratching their heads after the exchange’s new trading and market data system reported an erroneous 15 per cent jump in the PSE main index – instead of the correct 0.63 per cent when the system was rolled out on July 26.

It promptly issued advisories for investors to ignore the index numbers on its website.

In the past week, the exchange has again issued similar advisories on two occasions: on August 27 and 31. In a statement released on Tuesday the PSE said it had moved the location of its back-office servers over the weekend. “The server shift has affected the accessibility of index statistics on the website,” it said, without elaborating. The PSE has not responded to emails requesting clarity and more details.

Exchange officials insist the glitches are minor and have not affected trading at all. Some brokers beg to disagree. “We are experiencing more downtimes now. We’ve had three last week,” said Joey Roxas, a long-time Manila stock broker. He also complained that the stock exchange’s website has been going down more often of late, interrupting public access to potentially market-moving disclosures by listed firms.

It is not clear if the disruptions are all due to the adoption of new trading system, which the PSE has acquired from NYSE Technologies. But they are adding to brokers’ concerns about replacing the old trading system that has been in use for 15 years.

Mr Roxas said many brokers complain that the new system’s menu for entering orders occupies a smaller window on the computer monitor and requires more keystrokes.

He added that many are grumbling that their concerns are not being addressed by an exchange board whose members are mostly no longer stockbrokers.

Still, the technical disruptions have not stopped the local stock market from soaring on the back of strong corporate profits and faster economic growth. Weeks after the shift to the new trading, the PSE index rose to a 31-month high on August 20 when it closed at 3,593.60 points. It ended at 3,593.41 points on Wednesday.

The PSE’s programmers and engineers are hard at work to fix the computer glitches. Exchange officials will need to work harder to repair ties with the stock brokers.

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FT.com / FT Trading Room – Manila exchange glitches puzzle brokers

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Eton Park discloses big gold ETF stake Hedge Funds – MarketWatch

SAN FRANCISCO (MarketWatch) — Eton Park Capital Management LP, a hedge fund run by former Goldman Sachs trader Eric Mindich, disclosed a big new stake in a gold exchange-traded fund during the second quarter, according to a regulatory filing Monday.
Mindich joins other hedge fund managers, such as John Paulson of Paulson & Co., who have taken big gold positions in recent years. See MarketWatch special report on the new gold bugs.
Eton Park held almost 6.6 million shares of the SPDR Gold Trust ETF(GLD 119.79, +0.06, +0.05%) at the end of June. The firm also held 5 million calls and 4 million puts on the gold ETF, according to Monday’s regulatory filing. (Calls give investors the right to buy securities, while puts give them the right to sell).
At the end of March, Eton Park disclosed no stakes in the SPDR Gold Trust.
Paulson & Co., one of the world’s largest hedge funds, disclosed Monday that it held a stake of 31.5 million shares of the gold trust at the end of June. That was unchanged from the end of March. Paulson is the biggest investor in the gold trust, according to FactSet.

Alistair Barr is a reporter for MarketWatch in San Francisco.

The MasterBlog: "It’s Not A Market, It’s An HFT ‘Crop Circle’ Crime Scene" – Further Evidence Of Quote Stuffing Manipulation By HFT | zero hedge

The MasterBlog: “It’s Not A Market, It’s An HFT ‘Crop Circle’ Crime Scene” – Further Evidence Of Quote Stuffing Manipulation By HFT | zero hedge