February 22, 2010 Issue Abstract

The Electronic Marketplace: Buy-Side Firms Seek Ban on Flash Order Practices Seen Akin to ‘Front Running’ by the Favored Firms. “Giving anyone a free look into an incoming order and allowing them to base any decision off that flow is trading ahead, regardless of size of the order,” says David Lewis, Vice President and Head Trader at Franklin Templeton Investments, in our report. “It disadvantages everyone except the particular firm that received the flash.”

Industry Alert: Cross-Border Fund Competition Will ‘Intensify’ Suggests an RBC Survey. Transparency and performance outweigh domiciliation in fund selection criteria chosen by investors.

Performance Measurement: GIPS Measures Revised to Include Risk, Fair Value. The CFA Institute has issued a comprehensive, new edition of revised Global Investment Performance Standards (GIPS.

Spotlight: Muriel Siebert, President and Chairwoman of Muriel Siebert & Co. An industry veteran calls for new regulations, registration of derivatives, and international limits on leverage.

New Product Watch: Tools for Supporting Trading Needs and Regulatory Compliance. Broadridge Financial, Charles River Development, ConvergEx Group, DST Global Solutions, and SS&C are some of the firms with new offerings.

On the Exchanges: The London Stock Exchange Group Embarks on a Pan-European Challenge. David Lester takes the helm as CEO of a new Turquoise on the LSEG’s acquisition of Turquoise Trading Limited and its merger with Baikal Global Limited.



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