Friday, 28 November 2014
Last updated 1 day ago
Jan 24 2012 | 1:24pm ET
Man Group CEO Peter Clarke has thrown his weight behind the return of the "uptick rule," a short-selling restriction that he said could prevent sudden market crashes.
Clarke told the London School of Economics Alternative Investment Conference yesterday that the rule, first instituted during the Great Depression, abolished in 2007 and revived in part in 2010, could prevent high-frequency traders and quantitative programs from fueling "flash crashes" like that seen in 2010.
"From a personal perspective, reintroducing the uptick rule… would not be a particularly bad thing," he said. "You can only short when the previous trade was an uptick, which would stop some of the… quant strategies from becoming systemic in certain markets over the short term."
In 2010, the SEC revived a form of the rule, imposing the uptick requirement on stocks that drop 10% or more in a single day.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...