Wall Street Letter VOL. XLV, NO. 35 - Nov. 7, 2013 | Page 7
7 – 13 NOV 2013
for Canada and Europe differ from
the US for how to access markets,”
said Moitoso. “The rules around
best execution and the bidding and
offering aren’t the same in Canada
or Europe so we have to tweak it so it
behaves appropriately for workflow
as well as how it accesses markets.”
The platform was previously
marketed to boutique firms, but after
adding new features this year, such
as the ability to trade options and
retaining a cost effective price tag,
Moitoso said the product has garnered enough momentum to break
out of the US market.
REGULATION
Knopman considers
additional staff to
support training biz
Knopman Financial Training
Services is considering adding staff to
supplement the business, according
to comments from Harvey Knopman,
president.
The 22-year-old company provides
live and online training for industry
professionals needing FINRA certifications, including offering training
for Series 7 tests as well as training for
other sought after accreditations.
The firm is based in New York and
has a staff of less than 20, some of
which are contract employees, he said.
To the extent the company adds
more employees, Knopman said
new staffers could be full time and
contract-based staffers that would
bolster the company’s subject matter
expertise.
Those types of staffers, which can
come from the industry, help the
company devise sample tests to offer
up to students by providing more on
the job expertise to make tests more
realistic, he said.
For example, he noted that when
FINRA added its Series 79 certifications for investment bankers in
2010, Knopman said the company
added two investment bankers to
help supplement the outline FINRA
provides with their knowledge of the
business. The company has made
similar moves related to exams for
operations professionals, he added.
The company has grown its staff in
the recent past, doubling its numbers
in the last three or four years due to
the increasing frequency of new regulation and to handle new exams that
have popped up, according to Brian
Marks, managing director.
With each new rule, the company
updates its sample tests to ensure students are exposed to realistic testing
scenarios, and training includes new
rules as FINRA flags them up, Marks
added.
While additional staff is a possibility, Knopman ruled out the option
of adding another physical location
any time soon. “We’re finding the
need not so great,” he said, noting the
company has a number of students
across the world that train with
them via virtual classes and by using
mobile apps.
EXCHANGES & ATSs
CBOE markets
amend error rules,
treatment
The Chicago Board Options
Exchange and C2 Options Exchange
will be changing their treatment
of obvious error trades in a move
to offer treatment similar to other
exchanges, according to regulatory
filings from both markets.
Specifically, the exchanges will look
to cancel trades (instead of amending
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