Things we're reading today include …
Today's must read
Stock Traders Find Speed Pays, in Milliseconds (New York Times)
"It is the hot new thing on Wall Street, a way for a handful of traders to master the stock market, peek at investors’ orders and, critics say, even subtly manipulate share prices.
It is called high-frequency trading — and it is suddenly one of the most talked-about and mysterious forces in the markets."
Euronext shifts data centre to target high-frequency flow (The Trade)
U.S. SEC, CFTC unveil crackdown on OTC derivatives (Reuters)
Oracle Buys GoldenGate Software (Oracle Press Release)
The Credit Card Reform Backlash
The Online Payment Wars Continue: PayPal Officially Announces Flexible API (Techcrunch)
Warren Buffett to star in business cartoon
Enough recession gloom, it's time for a dose of optimism
Quote of the Day
“Strips clubs are getting boring now and we can’t really be seen to be doing that sort of thing any more.” Hedge Fund Manager quoted in Bankers turn to butchery for fun (Financial Times)