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Why market rally is just an illusion
By JOHN AIDAN BYRNE | @04-08-12
No volume except for computers The surging stock market is a bit of a con job, trading executives say. According to the pros, the roughly six-month market rally (down days notwithstanding) has nothing to do with any signs of a economic turnaround on Main Street. You can see the disconnect ...

Q and A with Don Wilson, Founder of DRW Trading Group
From Internet | @04-05-12
Don Wilson founded DRW trading group 20 years ago as a sole proprietorship. Thanks in part to the emergence of electronic and then high-frequency trading, the firm has grown into a global force in the trading world, with more than 400 employees, and offices in Chicago, New York and London. ...

MEMORANDUM
From Internet | @04-05-12
MEMORANDUM TO: The Commission FROM: The Division of Trading and Markets RE: FutureCom, LTD. Proposed Application for Designation as a Contract Market for Automated Trading over the Internet of Cash-Settled Live Cattle Futures and Options Contracts. RECOMMENDATION: That ...

Why doesnt the CFTC DO THIS?
By Michael Kitchen | @04-05-12
LOS ANGELES (MarketWatch) -- The Securities & Exchange Commission has launched an investigation into communications between some stock exchanges and high-frequency trading firms, looking for any collusion to limit competition or manipulate markets, The Wall Street Journal reported late Thursday, citing an unnamed person familiar with the matter. ...

Prop trader: 'It's worth pointing out that forecasting makes no sense'
From Internet | @04-05-12
Joris speaks to a trader who says volatility in the markets can lead him to resort a daily strategy of what amounts to gambling This monologue is part of a series in which people across the financial sector speak about their working lives The world of prop traders being rather small, there ...

WSJ:SEC Investigating Relations Between Rapid-Fire Firms,Stock Exchanges-Source
From Internet | @04-04-12
By Jean Eaglesham, Jenny Strasburg and Scott Patterson U.S. securities regulators are conducting a wide-ranging investigation into the complex relationships between rapid-fire trading firms and stock exchanges, according to the official overseeing some 20 probes into computerized trading. The inquiry into ownership and other ties is part of a broader probe into ...

Gensler Says CFTC May Seek Automated-Trade Comments by July
By Silla Brush, | @04-02-12
The U.S. Commodity Futures Trading Commission may seek comment before July on ways to test and supervise automated and high-frequency trading systems, said Gary Gensler, the agency's chairman. The agency, which has scrutinized such trading in the wake of the May 2010 crash that temporarily roiled markets, is considering ...