It’s Time to Address Market Data Pricing at the Exchanges

Posted by & filed under Articles, Blog.

The last 15 years on Wall Street stand as a monument to technological innovation, data analysis and accelerated performance. But despite the size of their balance sheets, these advances were not initially brought forth by household Wall Street names of the time. Instead, the rise of electronic trading that has helped democratize market access and… Read more »

Succession Systems LLC Launches New Website

Posted by & filed under Blog, Press Releases.

October 29, 2015 New York We are excited to announce the launch of our new corporate web site. Our goal was to provide visitors with an easier way to learn about our products and the customized solutions we offer our clients. The redesigned web site has an entirely new look and feel. It is interactive,… Read more »

Succession Systems automates trading limits and risk controls between brokers and the Montreal Options Exchange

Posted by & filed under Press Releases.

Message-level integration enables the rapid communication of trading limits between the exchange and brokers. March 2, 2015 New York, Montreal Succession Systems announces certification by the Montreal Options Exchange (“MX”) to integrate and implement a new suite of direct pre-trade risk controls offered by the exchange and integrated and supported by the Succession TripleCHECK system…. Read more »

Connecting the Spine to the Brain: DTCC Limit Notifications

Posted by & filed under Articles, Blog.

To improve risk controls, different systems across the industry need to start working together. Last month, the DTCC announced a real-time limit monitoring system to alert brokers if they approach pre-set capital limits.Could this help to standardize risk limit notifications across all participants? And, can we connect the spine to the hands and the feet of… Read more »

Market Access and Knight Violation

Posted by & filed under Articles, Blog.

In 45 minutes, Knight Capital unintentionally acquired a $3.5 billion net long position in 80 stocks and $3.15 billion net short position in 74 stocks. An algo, not able to ‘read’ the accumulated fills, kept sending orders to market. Knight’s proprietary trading systems were not tied into the firm’s overall credi thresholds. Read More