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Pipeline Trading Systems
Pipeline Trading Systems LLC operated private equities and options trading systems from 2004 to 2012. As an agency broker, it offered equities traders two methods for trading large blocks of stock with minimal impact on price: a crossing network (also known as a dark pool), and an algorithm switching engine. In 2011, it agreed to settle the action brought by the Securities and Exchange Commission regarding the disclosure of the activities of its liquidity providing affiliate between 2004 and 2010.DailyFinance (Pipeline press release"Study Reveals Buy Side Firms Entrust Most Difficult Trades to Pipeline"April 7, 2011. The affiliate implemented a patented market structure invention that used an execution quality rebate to align the liquidity provider's incentives with those of Pipeline's institutional clients. The crossing system earned high marks for execution quality in third party research, but was shut down in 2012 following the SEC action. Pipeline was founded by Fred Federspiel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equities
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company is divided, or these shares considered together" "When a company issues shares or stocks ''especially AmE'', it makes them available for people to buy for the first time." (Especially in American English, the word "stocks" is also used to refer to shares.) A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all senior claims such as secured and unsecured debt), or voting power, often dividing these up in proportion to the amount of money each stockholder has invested. Not all stock is necessarily equal, as certain classe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Option (finance)
In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction. Thus, they are also a form of asset and have a valuation that may depend on a complex relationship between underlying asset price, time until expiration, market volatility, the risk-free rate of interest, and the strike price of the option. Options may be traded between private parties in ''over-the-counter'' (OTC) transactions, or they may be exchange-traded in live, public markets in the form of standardized contracts. Definition and application An option is a contract that allows the holder the right to buy or sell an underlying asset or financial instrument at a specified strike ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dark Pool
In finance, a dark pool (also black pool) is a private forum (alternative trading system or ATS) for trading securities, derivatives, and other financial instruments."The New Financial Industry" (March 30, 2014). 65 ''Alabama Law Review'' 567 (2014); Temple University Legal Studies Research Paper No. 2014-11; via SSRN. Liquidity on these markets is called dark pool liquidity. The bulk of dark pool trades represent large trades by s that are offered away from public ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fred Federspiel
Fred Federspiel is an American technology entrepreneur, nuclear physicist and inventor. Biography Born in West Lafayette Indiana in 1963, Federspiel earned a PhD in experimental nuclear physics from the University of Illinois at Urbana–Champaign in 1991, where he led the first self-consistent measurement of the electric and magnetic polarizability of the proton. In 1993, he married his wife, Carey Mills, with whom he has four children,Harry, Ella,Erin, and Leo. A Baritone Sax enthusiast, he played in professor John Garvey's Jazz band for seven years. In 1991 Federspiel joined Los Alamos National Laboratory where he built the real-time data acquisition and analysis system for the Liquid Scintillator Neutrino Detector experiment, which reported evidence for neutrino oscillations in 1996. In 1997 he joined BiosGroup, and then in 1999 founded e-Xchange Advantage Corporation (e-XA) to deploy technology allowing institutional traders to control the information released to the ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. History 1971–2000 "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
