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Jan 27, 2015

Wall Street back to ‘business as usual’ as storm wanes

NEW YORK (Reuters) – Wall Street was largely back to business as usual on Tuesday after a storm that had threatened to blanket New York with a few feet of snow ended up dumping several inches instead.

Major U.S. stock and bond markets were open, with trading volumes higher than they had been the previous day, when ominous weather forecasts and transit shutdowns put a chill on business activity.

Jan 27, 2015

Wall Street ready for ‘business as usual’ as storm wanes

NEW YORK, Jan 27 (Reuters) – Wall Street geared up for a
regular securities trading session on Tuesday as a snow storm
that effectively shut down New York City was downgraded from a
blizzard to a winter storm in the immediate metro area.

The New York Stock Exchange, a unit of Intercontinental
Exchange Inc. and one of the main cogs of the U.S.
financial markets complex, expected to be open for “business as
usual,” spokesman Eric Ryan said.

Jan 27, 2015

Wall Street left with skeleton crews down as blizzard bears down

NEW YORK (Reuters) – A blizzard bearing down on New York hollowed out Wall Street offices on Monday, leaving most investment banks and fund managers with skeleton staffs as many employees opted to work from home.

The storm, which threatens to dump up to 3 feet (90 cm) of snow on the East Coast and disrupt travel for tens of millions of people, prompted some retail banks to close branches in the region, though major exchanges said they would remain open as usual.

Jan 26, 2015

Wall Street hunkers down as blizzard roars into region; exchanges open

NEW YORK (Reuters) – Wall Street traders scrambled to get home or booked hotel rooms on Monday as a potentially historic blizzard bore down on the U.S. northeast, prompting some banks to close branches in the region, though major exchanges said they would remain open as usual.

Financial professionals planned to work from home or in remote offices, as the storm threatens to dump up to 3 feet (90 cm) of snow on the East Coast and disrupt travel for tens of millions of people.

Jan 26, 2015

Wall Street braces for storm; exchanges to stay open

NEW YORK (Reuters) – Some Wall Street traders booked hotels, while banks and brokerages prepared to get by with bare bones staffing, but major exchanges said it was business as usual as a potentially historic blizzard bore down on the northeast.

Brokers and dealers snapped up hotel rooms in Manhattan in anticipation of problems on the road and with public transportation due to the storm, which threatens to dump up to 3 feet (90 cm) of snow on the East Coast and disrupt travel for tens of millions of people.

Jan 16, 2015

BATS in talks to buy KCG’s FX trading platform Hotspot

NEW YORK (Reuters) – Exchange operator BATS Global Markets is in discussions to buy institutional foreign exchange trading platform Hotspot from KCG Holdings Inc (KCG.N: Quote, Profile, Research) for nearly $400 million, three sources close to the situation said on Friday.

Jersey City, New Jersey-based KCG said in October it had begun to explore strategic options for Hotspot and that it would sell the unit if doing so would create the best value for its shareholders.

Jan 14, 2015

Nasdaq plans challenge to CME and ICE in energy derivatives

NEW YORK, Jan 14 (Reuters) – Exchange operator Nasdaq OMX
Group is considering entering the energy derivatives
market in a challenge to CME Group and Intercontinental
Exchange Inc, according to documents seen by Reuters.

The move, currently in the consultation phase, but intended
to be rolled out this year, would see Nasdaq introduce energy
futures and options products based on key oil, natural gas, and
U.S. power benchmarks, according to the documents.

Jan 12, 2015

BATS exchange group to pay record $14 mln U.S. SEC fine

Jan 12 (Reuters) – Exchange operator BATS Global Markets
said on Monday it agreed to pay a record $14 million penalty to
settle charges that two exchanges formerly owned by Direct Edge
Holdings gave advantages to certain high-frequency trading
firms.

The U.S. Securities and Exchange Commission said Direct
Edge, prior to its merger with BATS a year ago, selectively
disclosed information about how firms can advantageously place
certain orders on its markets.

Jan 12, 2015

U.S. exchanges consider running ‘dark pools’ for banks

Jan 12 (Reuters) – At least two U.S. exchanges have been in
talks with big banks about possibly taking over the operation of
the banks’ private, off-exchange trading venues, or “dark
pools,” which are facing rising costs amid increased regulatory
scrutiny.

Both BATS Global Markets and Nasdaq OMX Group
recently said they have held talks with banks on outsourcing
some or all of their dark pool operations.

Jan 6, 2015

Exchange operator BATS calls for U.S. regulatory reform

NEW YORK (Reuters) – Exchange operator BATS Global Markets
on Tuesday called for changes to U.S. stock market rules,
including slashing exchange fees for the most actively traded
stocks, in the latest plea for regulatory reform from within the
industry.

The rules that govern exchanges were put in place a decade
ago by the Securities and Exchange Commission (SEC) and while
the markets function reasonably well, it may be time to make
some improvements, BATS’ Chief Executive Joseph Ratterman said
in an open letter to the industry.