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(WSJ)($)
How did Jim Simons do it? I spent two years researching a book about Simons and his firm, Renaissance Technologies. I had long conversations with Simons—enduring his chain-smoking for hours at a time. I talked to dozens of his executives, researchers and friends. The response to the book was positive, but the question kept coming: What was really behind perhaps the most successful investment firm of all time?
(Bloomberg)($)
Equity investors looking at trading shares within a shorter period of time instead of holding them for longer are potentially limiting their returns, according to analysts at Bank of America. Trading horizons are getting shorter, with zero-day-to-expiry options now accounting for almost half of all S&P 500 index option volumes, up from less than 5% a decade ago. But the odds of losing money in the S&P 500 drop from 46% for holding a position for a single day to 5% for carrying those investments for a decade, the analysts led by Savita Subramanian wrote in a Friday note.
(Barrons)($)
Securities and Exchange Commission Chair Gary Gensler is shaking up Wall Street with proposals to overhaul stock trading and make brokers prove they got the best prices for their clients.
(The Full FX)
The shift to T+1 settlement in North American markets at the end of this month, with the ensuing knock-on-effect in FX markets, has widely been seen as a boost for the custodian bank, as they are able to manage the entire lifecycle of a fund’s operations – this view has been reinforced by news that Asian investment manager New Silk Road Investment, has selected Northern Trust’s Integrated Trading Solutions (ITS) service for outsource trading.
(Yahoo! Finance)
Concerns over the demise of London’s stock market are “massively overstated”, Jeremy Hunt has said. The Chancellor on Thursday sought to play down fears that the Square Mile is in terminal decline, instead claiming that seven tech giants will be listed in the UK in the next decade.
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ETF buying nearly halves in April as US rate cut hopes recede
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Everything Investors Know About Hedge Funds Is Based on Flawed Data
(Institutional Investor)
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Citadel Securities Is Setting Revenue Records, CEO Zhao Says
(Bloomberg)($)
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Activist Short Sellers Are the SEC’s Biggest Whistleblowers
(Institutional Investor)
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Race for Europe’s first ‘real-time’ stock trade tape heats up
(Thomson Reuters)
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IntelligentCross Announces Intraday Optimization
(Traders Magazine)
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Buy-side divided on changes to research funding models
(Global Trading)
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WisdomTree faces new battle with largest shareholder
(Financial Times)
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Einhorn Says Markets Are ‘Broken.’ Here’s What Data Shows
(Bloomberg)($)
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Substantive Research Survey Reveals Impact of FCA’s Research Payment Optionality
(Substantive Research)
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Tensions Rise in Silicon Valley Over Sales of Start-Up Stocks
(New York Times)($)
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Retail investors snap up triple-leveraged US equity ETFs
(Financial Times)
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Goldman Sachs’ traders made $100m+ on 37% of trading days in the first quarter
(efinancial careers)
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Election Year Market Impact Assessed
(Traders Magazine)
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Reshuffle at IEX: Ronan Ryan steps into COO role
(Global Trading)
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Fireside Friday with… BNY Mellon’s Geoffrey Yu
(The Trade)
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Head of market structure leaves Barclays
(Global Trading)
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Asset managers focusing on enhancing product quality, accuracy – Northern Trust
(Pensions & Investments)
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London leads European equities capital raising in Q1
(Global Trading)
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Colin Lambert’s: ‘The Last Look…’
(The Full FX)
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ON THE MOVE: Peter Harrison to Leave Schroders; Liquidnet Gets Jeffrey Crane
(Traders Magazine)
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