Despite the shortened holiday week there was flurry of activity on the financial market and regulatory front, though slightly overshadowed by the EU finally announcing their long awaited quantitative easing program and earnings season being in full swing. A consortium of asset managers, led by Fidelity, announced the launch of a private trading venue to facilitate their large block trades in order to bypass Wall Street dark pools. It is an interesting move and story worth watching over the coming months since the venture brings together rival firms, and will compete with the banks and existing exchanges for trading volumes. The CFP examined a number of issues related to dark pools and high frequency trading at its conference last September with FINRA.
The SEC also released its 2015 priorities. The issues revolve around matters of importance to retail investors, issues related to market-wide risks and using data to analyze potentially illegal activity. The Commission also noted they will be re-examining proxy advisory firms. The CFP and CFA Institute hosted a panel discussion on this topic this past November.