When Jane Gladstone of Evercore Partners Inc. first attended the Futures Industry Association annual meeting in Boca Raton in 2002 she was the only investment banker there. To capitalize on the opportunity, she threw a dinner for about 20 people.
Citadel Securities LLC, joined by three other investment firms, sued Chicago Board Options Exchange LLC and four more exchanges over claims they systematically overcharged or wrongly assessed fees on trades.
The U.S. Supreme Court bolstered Monsanto Co.’s ability to control the use of its genetically modified seeds, ruling that companies can block efforts to circumvent patents on self-replicating technologies.
International Securities Exchange, the second-biggest U.S. options market, withdrew plans to trade larger-size options on the SPDR S&P 500 ETF Trust amid concerns the contracts may threaten market liquidity.
A false report of explosions at the White House that wiped out $136 billion from the Standard & Poor’s 500 Index in about two minutes highlighted the risks of the computerized trading that dominates the $18 trillion market.
As Ed Provost took the stage at the Green Valley Ranch Resort & Spa in Las Vegas to explain how a software malfunction had shut the Chicago Board Options Exchange for three-and-a-half hours, he was surrounded by people who were victims of similar disruptions.