The Race to T+Zero. Not.

May 1, 2012 - So you think getting to same-day settlement of stock transactions is tough? Must be. The Depository Trust and Clearing Corporation next week is going to start a study that – once again -- investigates what it will take to reduce the time it takes to clear and settle trades from the current three days. The choices: two days, one day or none. …

Extremely Big, Still Unpredictable

May 1, 2012 - I thought I was joking yesterday morning, when I said, basically, that was my heart was palpitating on the way to SIFMA Ops 2012. That was because the past two years have indelibly conjoined this great industry event – where the heroes that keep capital markets operating through thick and thin convene – have been marked by astounding events. The Flash Crash happened on the second day of this conference two years ago.…

Extremely Big, Incredibly Unpredictable

May 1, 2012 - I am 30,000 feet up in the air. This particular U.S. Airways jet does not have onboard wifi, which I have suddenly come to count on and expect as routine. These days, even in flight, I am accustomed to working seamlessly on the Internet, watching the news, researching my own stories and posting them online. Just as if I was at the office, at a hotel or at home. …

Forget the Flash Crash. What's Next?

May 1, 2011 - Hopefully, this year's SIFMA Operations Conference and Exhibit will not be quite as exciting as last year’s. If you haven’t noticed, this coming Friday is May 6. The first anniversary of the Flash Crash. Which, of course, happened right in the middle of a busy day of presentations at the 2010 SIFMA Ops conference. …

Reform vs. Innovation: Opening the Right Doors

April 5, 2010 - The “too big to fail” principle –- driven by the interconnectedness of financial firms -- could lead to an economy where a company could be “too small to succeed.”

Q&A: Hedging on More Than Prices

November 30, 2009 - The head of Bank of America Merrill Lynch's prime brokerage talks about hedge funds that seek more than just good pricing