October 18, 2010 Issue Abstract

Securities Trading: High Frequency Trading Debate Spotlights a Schism Between the Vulnerable and Those Who Stand to Profit. The ‘flash crash’ has brought to the fore market practices associated with high frequency trading and raised issues about the quality of markets and what is true liquidity.

Industry Alert: High Frequency Trading Raises European Concerns. The issue is top-of-mind among European regulatory bodies and the UK’s HM Treasury has embarked on a study of HFT activity.

Editor’s Comment: Emperor of Emeralds. Who’s supporting practices that abet natural liquidity and capital formation, and what’s at stake?

Clearance & Settlement: Omgeo and EuroCCP Partner on a Solution for Hedge Funds. A fully automated matching solution leverages Omgeo’s Central Trade Manager.

Spotlight: SIX x-Clear Finds Savings and Safety in Product Diversity as It Offers Customers Benefits of Netting Across Venues. Marco Strimer, Chief Executive Officer, SIX x-clear, shares thoughts on European infrastructure challenges, CCP interoperability, and emerging opportunities.

New Product Watch: Advanced Algorithms Sharpen Electronic Trading Strategies. New algorithms for trading FX, Brazilian equities, and liquidity sourcing in the US.

On the Exchanges: Singapore Seeks to Spread Its Wings Over Asia-Pacific. SGX bids to buy the Australian Stock Exchange as it moves to implement NASDAQ OMX’s Genium INET, one of the fastest trading technologies in the world.