Involvement in two dozen new electronic trading ventures could put Goldman at the center of a new financial world--and someday may even threaten the existence of the floor traders and securities salesmen that made Goldman great.
Pellegrino is among 100 traders at Blackwood Securities , one of several day-trading firms in the New York area.
Good trade accounting software continues to be a must for active securities traders.
In effect, securities traders could get a tax cut, using the same tax rate that futures traders use now.
Some traders at large banks and securities firms make more than chief executives, though traders' pay typically isn't disclosed.
During the past 10 days, traders on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 2.65 calls for every put on the coal concern.
Digging deeper into data reveals that traders on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 2, 537 puts versus 1, 515 calls during the past two weeks.
Treasury prices fell as traders sold recently-purchased securities into the market after this week's auctions of three-year notes, 10-year notes and 30-year bonds.
JPMorgan is eagerly hiring commodity and energy traders, and mortgage-backed securities and equity derivatives specialists.
Traders use stock loan desks to access securities to buy or to borrow to sell short.
Bond traders thrive on playing the spreads between existing securities of comparable yield and maturity and the forthcoming issues.
From tax shelters, to auction rate securities issues and super-rogue traders UBS is no stranger to ugly press and massive fines.
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The defendants were convicted in 2009 of one count of conspiracy for selling day traders access to the information that came from the internal squawk boxes, allowing the traders to beat larger firms to orders on securities.
It was an eager seller of mortgage securities during the boom, even as its traders were betting on a market slump, fuelling the same allegations of duplicity that Goldman Sachs has faced.
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In the first scheme, a UBS Securities executive is accused of tipping off two traders to upcoming UBS stock research upgrades and downgrades, sharing the profits of trading on that nonpublic material information.
Traders, investors and SAC executives expect the resulting sale of securities to be orderly and have little noticeable impact on the broader market, said people involved in the discussions.
The strategy, in which powerful computers buy and sell securities at ultrafast speeds, has proved lucrative for many traders.
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Currently FINRA is responsible for securities brokers, the Commodities Futures Trading Commission for commodities traders and the Federal Reserve for the largest banks.
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Through Thursday and Friday, oil traders were already covering their shorts, according to Andrey Kryuchenkov of VTB Securities, putting upward pressure on prices.
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Senator Ted Kaufman (D-Del.) pointed out in a recent letter to the Securities and Exchange Commission that he would like high-frequency traders to take on more obligations.
The need for the SEC to have better access to information is heightened by the fact that large traders, including high-frequency traders, are believed to be playing an increasingly prominent role in the securities markets.
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The US financial regulator, the Securities and Exchange Commission (SEC), is already suing unnamed traders for insider dealing.
For example, securities exchanges benefit from the network effect because as they attract more traders they become better able to handle additional trading volume.
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In the latest scandal, the Securities and Exchange Commission is relying on wiretaps and stoolies to uncover traders who bribed or otherwise induced company insiders to give them information that could move the stock.
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In the options pits, traders have bought to open almost five BIIB calls for every put on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) during the past two weeks.
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Elsewhere, options traders have upped the bullish ante lately, as evidenced by recent stats from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
Mitchel Guttenberg, 41, an institutional client manager at UBS Securities, was charged with passing material--nonpublic information--to traders Erik Franklin, 39, formerly of Bear Stearns, and David Tavdy, 38, formerly of Assent, a New York broker-dealer.
Those who are very aggressive traders have been long and short in the financials for months to the point that the Securities and Exchange Commission put out a list of companies that could not be shorted.
Steven Vinik, former head of equity sales for Nomura Securities in Hong Kong, says the markets have been so lousy lately that many traders have simply withdrawn.
According to a number of ex-Cantorites, for a time Lutnick and his Investment Strategies Group traders had access to the internal screens that the wholesale brokers used in Cantor's government securities brokerage rooms.
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