Special Report:
REMAKING WALL STREET

The New Bulge-Bracket Broker-Dealers Reveal Their Revamped Trading Operations
An inside look at the electronic trading integration efforts at major broker-dealers following unprecendented mergers and acquisitions in the past year and a half.

Merrill and BofA Work to Integrate Trading Operations
Heritage Merrill trading management, technology and algos lead the unified operation.

J.P. Morgan, Bear Choose Best of Breed
J.P. Morgan, Bear roll out new best of breed trading platform as part of integration strategy.

Barclays Benefits from Lehman's Trading Leadership
Barclays chose to use most of Lehman's technology, algos and talent to boost its U.S. trading group.

Nomura Strengthens International Trading Through Lehman Buy
Nomura nabbed former Lehman execs to help build out its US trading operation.

Integration Is Key to Merger Success
Five key decisions to make when integrating trading systems.

Simplifying Algorithm Access
Consultant Ben Keeler Merged Trading Desks Should Look at Unified Algo Conduit

AT A GLANCE

The New Trading Desks
With all the M&A activity on Wall Street in the past year, it can be difficult to know which broker-dealers offer the best execution services. To help you keep up-to-date, Advanced Trading has compiled an at-a-glance summary of the newly integrated trading operations at Barclays, Nomura, Bank of America Merrill Lynch and J.P. Morgan.

STREET CRED

New Financial Regulatory Reform Proposal: 'It's in There'
The Obama administration's new regulatory reform proposal -- which covers everything financial -- is divided into five major categories: firm supervision and regulation, financial market supervision, consumer protection, governmental crisis management tools, and increased global regulatory cooperation.

AT THE CLOSE

Agency Brokers Take Role in Credit Markets Recovery
As the bulge bracket firms retreat, agency brokers make bold moves into fixed income and derivatives could be next.
Brian Fagen, Cohead of Liquid Market Sales for the Americas, and Frank Troise, Head of Global Equities Electronic Trading Products, Barclays Capital
Brian Fagen and Frank Troise, Barclays Capital


ELECTRONIC MARKETPLACES

Nasdaq Rolls Out Flash Orders to Market Participants As Debate Stirs
NYSE fires off letter to SEC as practice spreads to multiple market centers.

MANAGING THE DESK

Agency Brokers Go On Hiring Binge to Launch Fixed-Income Desks
A new wave of agency brokers is leveraging client relationships, sell-side hires and a commission model to capture fixed-income flow from bulge-bracket banks.

Bond Traders Are Drawn to Agency Commisson Payouts
Sell-side sales traders are leaving the big banks for the more-certain compensation offered by agency brokers.

INDUSTRY VOICE

Liquidity Mapping: Jump into the Dark Pool
We may be witnessing the early stages of a sustainable and fundamental shift in the trading landscape, as dark pools move from the periphery and take center stage.

MARKET INTELLIGENCE

Celebs Help BTIG Raise $3 Million for Charity
Celebrities and athletes including Eli Manning, Michael J. Fox and Johnny Damon, came to the firmÕs trading floor.

JonesTrading Hires International Trading Team; Leverages Fidessa Platform
Agency broker launches international trading desk in Charleston, South Carolina for US institutions.