THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 14 25 APR – 1 MAY 2013 www.wallstreetletter.com
IN THIS ISSUE News People moves 04 Reader poll 09 Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
Use of big data poses new challenges
Financial services firms are thinking about how to overcome challenges to using big data TURN TO PAGE 04
Arca Penny proposal a conversation starter
BY JEANENE TIMBERLAKE
Nasdaq OMX adds Nordic derivatives data
The data will be offered for calculation and verification TURN TO PAGE 06
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Mobile trading
Caplin Software’s Patrick Myles is predicting the advent of institutional trading for mobile devices in the next 12 months
NYSE Arca is hoping a proposal it filed with the Securities and Exchange Commission to transition the Penny Pilot into a permanent program will generate industry discussion about what a permanent market structure that includes trading in penny increments should look like, according to Steve Crutchfield, head of US Options for NYSE Euronext. The filing, submitted last week, suggested the market should end the six-year pilot in favor of a permanent regime of trading in penny increments for a smaller number of names and
with a more defined process for updating the program quarterly (WSL Online, 4/18). Arca proposed a smaller program that would only include 150 of the most active names, a move that would limit quote traffic, which Arca noted is much higher on the less active names. In an interview, Crutchfield said filing the proposal seemed a good way to start a wider conversation about how to move forward with a more permanent structure. The filing follows TURN discussions he said the TO PAGE exchange had with the SEC on the issue. 03
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