Wall Street Letter VOL. XLV, NO. 29 - Sept. 16, 2013
T H E D EFI NITIVE SOUR C E FO R TR AD I NG NE WS
VOL XLV ISSUE 29 19 - 25 SEPTEMBER 2013 www.wallstreetletter.com
IN THIS ISSUE ? News People moves 04 ? Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
Citi algos outperform past year’s results
A suite of algos released by Citi last year have nearly doubled the price improvement the bank can offer TURN TO PAGE 04
Futures players discuss CFTC concept release
associate director in the CFTC’s Division of Market Oversight, Futures market participants are who talked through the release concerned a concept release during the meeting. published by the CFTC last The 137-page document asked week could result in a regime 124 questions on the topics of that would be overly detailed high-frequency trading, order and inappropriately focused types, market data quality and on trading speed as an issue, automated trading system according to comments from testing, among other things. some attendees at a Technology In comments during the TAC Advisory Committee meeting meeting, one attendee expressed hosted by the regulator last week. concern that the outcome of the The agency issued the concept concept release would be static release on September 9 in a rules about what risk controls bid to gather intelligence from need to be put in place and said the community as to whether a more principals-based TURN existing risk controls for approach would be TO PAGE automated trading are sufficient, better suited to address according to Sebastian Schott, concerns. 03
BY JEANENE TIMBERLAKE
NFX lowers block trade threshold for gold contract
The Nasdaq OMX Futures Exchange plans to lower the block trade threshold for its 10 Troy ounce gold futures contract TURN TO PAGE 06
STA predicts market structure review
The Security Traders Association thinks the SEC may undertake a full review of US equity market structure TURN TO PAGE 09
V I S I T WA L L S T R E E T L E T T E R . C O M F O R U P - TO - T H E - M I N U T E I N V E S T M E N T N E W S