Program Trading News
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When a false report of explosions at the White House instantly wiped more than $136 billion off the value of U.S. stocks, Jonathan Corpina didn’t need a powerful computer.
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Barclays Plc is expanding the ways institutions can trade shares electronically by enabling them to draw on the bank’s capital to complete orders.
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Wells Fargo & Co., seeking to earn more from a sales-and-trading business acquired with Wachovia Corp. in 2008, is building a program-trading group to serve institutional and corporate clients.
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Knight Capital Group Inc. faced growing pressure to find a savior as clients from Citigroup Inc. to Vanguard Group Inc. curtailed business with the firm following a software bug that triggered a $440 million loss.
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John Phelan, who led the New York Stock Exchange into the modern era of competition and huge trading volumes and provided calm at the center of the storm when stock prices crashed in October 1987, has died. He was 81.
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Citigroup Inc. hired Matthias Rode as head of cash equity program trading, cash sales trading and equity derivatives sales in Germany, according to two people familiar with the matter.
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Hong Kong’s benchmark stock index rose, capping its longest winning streak since January 2011, as cement and automakers advanced today. Gains were limited after a China central bank adviser said the nation won’t provide big economic stimulus measures.
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The worst stock decline since December 2008 was absorbed by the market and while some investors panicked, there were no signs liquidity was withdrawn as in the selloff of May 2010, traders said.
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South Korean stocks fell, with the benchmark index sinking the most among Asian gauges, as shares traded for the first time this week amid concern the nation’s economic growth is slowing.
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Nomura Holdings Inc. , Japan’s biggest brokerage, hired Citigroup Inc.’s Paul Sangimino to serve as co- head of U.S. cash equities with Pascal Bandelier , according to two people with direct knowledge of the appointment.
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