Investors in three of the biggest Dow Jones Industrial Average stocks were whipsawed by price swings that repeated every hour yesterday, fueling speculation the moves were a consequence of computerized trading.
A proposed Ph.D. program in financial services analytics at the University of Delaware, funded by a $16.5 million pledge from JPMorgan Chase & Co., has some faculty uneasy about the bank’s potential influence.
The U.S. Securities and Exchange Commission rejected Nasdaq Stock Market’s request to offer clients trading algorithms that would enable them to execute buy and sell orders according to predetermined guidelines.
Wilmington Trust Corp. , the 107-year- old du Pont family wealth manager that financed companies during the Great Depression, agreed to sell itself to M&T Bank Corp. for about half last week’s market value amid souring loans.
Jon Corzine, who joined MF Global Holdings Ltd. 20 months ago to transform the futures broker into an investment bank, quit today amid regulatory probes and after the firm filed the eighth-largest bankruptcy in U.S. history.