COVER STORY

Regulatory Push for Clearing Platforms in Credit Derivatives Could Pave the Way for E-Trading

New electronic trading models are expected to emerge for credit derivatives linked to multiple central clearinghouses.

ANATOMY OF A TRADING FLOOR

Lightspeed Trading

With 35 to 40 traders in its New York headquarters, direct-access brokerage Lightspeed Trading focuses on the professional retail trader. See the technology that the firm's 2,500 traders use to execute 800,000 trades a day.

FEATURE

How Buy-Side Trading Has Changed

The wake of 2008's turbulent market conditions has left behind a new trading landscape, different and unique. Buy-side traders share their thoughts on how trading has changed for them.

Success Requires a Global Perspective

By Kevin Chapman, Managing Director and Head of Trading, Nicholas-Applegate Capital Management

New Environment Requires a Return to Basics

By Tyler Platte, Senior Trader, Rainier Investment Management

Communication Is Key to Survival

By John Nuzzo, Head Trader, Anchor Capital Advisors

Hedge Funds Take a Hit

By Gary Maier, Chief Technology Officer, York Capital Management



MANAGING THE DESK

As Market Volatility Continues, the Blame Game Heats Up

Regulation, the loss of specialists and electronic trading are all on the list when it comes to placing blame for recent market volatility.

Risk Management Consumes Buy-Side Traders
Amid Volatility

Even as buy-side traders look to step up their risk management efforts, ongoing market volatility continues to present a challenge.

RESEARCH WATCH

Benchmarking Trading Trends 2009: Crisis and Competition

TABB Group's latest U.S. institutional equity trading report offers insights into how the turbulent economy has affected order flow, the use of crossing networks, algorithms and block trading, and more.

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Gunter Heiland, Managing Director and Cohead of Emerging Markets Cash and CDS Trading at J.P. Morgan Asset Management.
Gunter Heiland, Managing Director and Cohead of Emerging Markets Cash and CDS Trading at J.P. Morgan Asset Management

FROM THE EDITOR

Congressional Hearings Call for a 21st-Century Regulator

In an unofficial Congressional hearing, reps air their concerns over SEC's missed opportunities to identify Madoff fraud.

MARKET INTELLIGENCE

CDS Central Clearing Platforms Approved by Regulators

NYSE Euronext Liffe and CME-Citadel's CMDX receive the green light from regulators to launch centralized clearing platforms for credit default swaps.

Buy-Side Anger Over Madoff Fraud Charges

Disillusioned insiders fear Madoff's Ponzi scheme has hurt the reputation of the entire industry.

Bringing Back the Block: Goldman Launches X-Cross

Goldman pulls together liquidity for new 10:30 a.m. cross with the launch of Sigma X-Cross.

STREET CRED

We Need Industry Leadership Now

As legislators take aim at Wall Street, the industry must seize the opportunity to work with regulators to create guidelines that will benefit everyone, says Special Contributing Editor Larry Tabb.

AT THE CLOSE

Madoff Swindle Was Aided and Abetted by Lack of Due Diligence

A lack of due diligence led sophisticated investors and hedge funds to lose billions in Bernard Madoff's massive Ponzi scheme.