Wall Street Letter VOL. XLV, NO. 33 - Oct. 21, 2013

THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 33 24 – 30 OCT 2013

www.wallstreetletter.com

IN THIS ISSUE
News People moves 04
Focus Fee chart 10

MORE NEWS INSIDE

Nasdaq, Phlx delay
several tech rollouts
The Nasdaq Stock Market and
Nasdaq OMX Phlx are putting the
implementation of several pieces
of technology on hold
TURN TO PAGE 05

CQG preps rollout
of trading, mobile
offerings
The Q Trader platform is an offering
that fits between the company’s
CQG Trader and the integrated
client in terms of functionality
TURN TO PAGE 07

Electra looks to
expand European
clientele
Andrew Kaufmann,
formerly of Viteos
Fund Services, will
run the firm’s office in
London as managing
director of EMEA
TURN TO PAGE 08

TOP STORY

ICE exec: Dark pool
volume growth poses
from lit markets have resulted in
more fragmentation.
The growth of dark pool
On the sidelines of the
volumes, cited this month as
conference, Farley said that
rising to nearly 40% of total
while market participants see
US equity trading volume in
growing fragmentation and
September, presents a number
resulting increase of off-exchange
of opportunities for the market
volume as a threat, it should be
in terms of making changes to
considered an opportunity.
market microstructure, according
“It’s not like if you tweak…
to Tom Farley, senior viceReg NMS in this way, that is the
president of financial markets at
only way to do it,” said Farley.
the IntercontinentalExchange,
“We need to have an adult
who spoke to WSL.
conversation that takes into
During a panel discussion at the account the issuer’s perspective,
Baruch College Market Integrity the investor who accesses the
conference, Farley commented
exchange directly and the
TURN
on the number of venues in the
investor who accesses the TO
PAGE
market and noted advantages
exchange through mutual
that are attracting volumes away
and pension funds.”
03
BY SEAN CREAMER

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