The Mixed Blessing of Technology Spending:Desks Must Spend on Technology to Remain Competitive

Huge mainframes. Fiber-optic networks. State-of-the-art telecommunication systems. Worldwide market news delivered real-time. Sound familiar? It should. These and more are at the very heart of a Nasdaq trading room. Back in the pioneer days, much of what is today’s Nasdaq trading-room technology did not exist. By contrast, some of today’s technology has a pedestrian aura. … Continue reading The Mixed Blessing of Technology Spending:Desks Must Spend on Technology to Remain Competitive

A Price War Planned By New STRIKE ECN: Bear Stearns’ ECN is Taking Aim at Rival Systems

From Traders Magazine, June 1998 issue As STRIKE, the name on the hottest new electronic communications network (ECN) simply suggests, Bear, Stearns & Co. is planning for war – a price war. STRIKE, the ECN sponsored by Bear Stearns, is going live this summer backed by some of the New York-based firm’s Wall Street peers. … Continue reading A Price War Planned By New STRIKE ECN: Bear Stearns’ ECN is Taking Aim at Rival Systems

A New System Promises To Police Trading Abuse:But Sending Real-Time Trade Data to Regulators Will Be Costly

From Traders Magazine, April 1998 issue Traders hate rude interruptions. A breakdown in market-data systems leads to pandemonium. A faulty telephone connection is taboo. So it is with a certain resignation that Nasdaq market makers are bracing for another interruption, and with nary a word of protest the implementation of the Order Audit Trail System, … Continue reading A New System Promises To Police Trading Abuse:But Sending Real-Time Trade Data to Regulators Will Be Costly