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February 2019
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The Economist (July 7)

2018/ 07/ 09 by jd in Global News

“The world’s most titanic commercial fight” is pitting “the towering giants of American and Chinese tech” against each other. It is “led by the FAANGs (Facebook, Amazon, Apple, Netflix and Google’s parent, Alphabet) on one side and the BATs (Baidu, Alibaba and Tencent) on the other.” The battle has largely stayed under the radar. “But its outcome could put third countries in one camp or the other, increasing the risk that the world eventually splits into two techno-blocs.”


Euromoney (October Issue)

2013/ 10/ 24 by jd in Global News

Warning some stock exchanges could face downgrades, ratings agency S&P cautioned that they “have become more prone to operational risk.” Fragmentation is one key challenge. “There are now 16 SEC-registered securities exchanges in the US and more than 50 alternative trading systems, whereas before 2005 the equities market was dominated by NYSE and Nasdaq. It is this interconnectivity that is fueling operational risk. When Nasdaq halted trading in August, for example, other stock exchanges, including NYSE, Bats and Direct Edge, were also forced to stop trading in Nasdaq-listed securities.”


Institutional Investor (February Issue)

2013/ 02/ 23 by jd in Global News

“For those who build and manage market and trading technologies, 2012 was punctuated by trouble. High-profile system malfunctions marred the BATS Global Markets and Facebook IPOs in March and May, respectively, and brought down market maker Knight Capital Group in August. These too were good new/bad news incidents, not as catastrophic as the still-reverberating ‘flash cash’ of May 6, 2010, but reminders that such technological snafus happen too frequently for comfort. All of this casts a pall over the industry and profession.”