Financial tech Start-ups and their value

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BrokerDealer.com blog update courtesy of financial industry publication TabbForum; those interested in fast-growth start-ups that have secured a presence within the trading technology space would want to visit OMEX Systems

FinTech disruption is in its early innings, particularly on the institutional side. But the number of exciting startups is growing. This growth is occurring due to the vast coverage of industries and asset classes that companies such as ChartIQ and OMEX Systems have been benefitting from clients that are looking to profit from the data they collect.

You’ve likely heard of companies such as Lending Club in the lending sector, Wealthfront for wealth management, and Square for payments. Companies such as these are reinventing very old processes in their respective sectors, and there are many more examples of technology firms like these that are gaining mainstream recognition. But there are thousands of startups reimagining much more niche functions in financial services, and many of them could be complementary or competitive to your own business.

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BrokerDealer BATS Seeks New Prez

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BrokerDealer.com blog post courtesy of extract from WSJ

BATS Global Markets Inc. the brokerdealer that operates the BATS electronic exchange platform, has begun searching for a new president just over a month after it forced William O’Brien out of the position, according to people familiar with the matter.

After Mr. O’Brien abruptly departed BATS in July, BATS Chief Executive Joe Ratterman assumed the title of president effective immediately, according to a statement at the time. Mr. Ratterman is based in Lenexa, Kan., while Mr. O’Brien worked out of the firm’s Jersey City, N.J., office.

Since then, the BATS board has decided to look for a new president. The position would likely be based in Jersey City and play a role in acting as a liaison with the company’s owners, many of which are large Wall Street firms based in New York City, and be a public face for the company.

It wasn’t previously known whether the company would seek to replace Mr. O’Brien or leave Mr. Ratterman as both chief executive and president. A spokesman for BATS declined to comment.

One reason for Mr. O’Brien’s departure was a decision by BATS to settle allegations that one of its units gave unfair advantages to high-speed traders, The Wall Street Journal reported last month. Mr. O’Brien declined to comment.

Banks dangle Carrot to Future Broker Dealers

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Brokerdealer.com blog post made possible through the courtesy of the NYTimes and William Alden and Sydney Ember  

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Working on Wall Street once conferred a certain prestige, a path to riches and an oh-so-important swagger. The big-name investment banks had top candidates lining up at their recruiting tables and thousands of applicants for the few coveted spots for future broker dealers.

But that image held by future broker dealers has been clouded in recent years by horror stories of weekends spent at the office, frequent all-nighters and seemingly unsympathetic bosses.

Wall Street now finds itself with the public relations challenge of having to woo and retain young talent. As part of the effort, many new hires found out this week that they could be paid roughly 20 percent more than their counterparts were offered last year.

The reason: The top banks, after decades of easily attracting the best and brightest from Ivy League campuses, are now worried about losing their favored status, especially as companies likeGoogle and Facebook can offer similarly high pay combined with luxurious benefits. A rash of cuts, regulatory issues and other problems after the 2008 financial crisis has not helped. Continue reading →

NYSE hits new year-to-date lows

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Brokerdealer.com blog post courtesy of ETF Daily News and David Fabian.

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David Fabian: Yesterday marked a year-to-date low in NYSE trading volume despite the S&P 500 Index hitting a new all-time intra-day high above 2,000. Despite the fact that many stocks are seeing fewer buyers and sellers, the markets are continuing to build on this 5-year bull market in earnest. Continue reading →