Tag: SEC 15c3-5

Knight Capital Pays $12 million for 15c3-5 Violation

The US Securities and Exchange Commission (SEC) announced today that Knight Capital Americas is the first broker-dealer it has fined for breaking market-access Rule 15c3-5 during its infamous rouge algo incident, which happened on August 1, 2012. The singular honor will cost the firm $12 million on top of the $460 million that it lost…

How Fast is Fast Enough?

Now that financial technologists are discussing measuring latencies in the hundreds of nanoseconds, it is time to discuss how fast firms need to be in this market and whether there are any alternatives. In the latest episode of the Daly Post Podcast, I ask these and many more questions to Hyannis Port ResearchCEO and low-latency…

Are You Really Ready for Real-Time Pre-Trade Risk Checks?

In a little over a week, all SEC-regulated brokers in the US will need to preform pre-trade risk and capital checks for clients¬†for whom they provide sponsored market access. Sell-Side Technology sits down with industry veteran Bill Karsh to discuss how prepared the industry is as well as the state of the available custom and…