Changes on the cards for dark pool rules

Dark pools and high frequency trading (HFT) generated significant debate on the second day of the 2013 Australian Securities and Investments Commission (ASIC) annual forum.

Debate centred on the impact of upcoming legislation around dark pools and HFT, slated to be introduced in mid-2013. There was also discussion around ASIC’s new research into these topics, released last week.

The research found the order-to-trade ratio in dark pools in Australia is mostly below 4:1. In contrast in the US this figure is 50:1. In addition, 3.6 per cent of all untraded orders in dark pools are less than $500. The median trade size is $400.

In Australia there are 20 dark pools, 16 of which are run by investment banks. Significantly, operators trade as principals in eight pools and account for 30 per cent of trades in dark markets.

Be ... Read More

Five tips to get promoted

According to new research by global workplace provider Regus, one of the main reasons why people get promoted is because they help their company win new business. Let’s take a look at some of the other reasons why people attain seniority in their workplace.

1. You can do the job

Regus’s research found ability to do the job was a main factor in decisions to give a promotion 97% of the time. The lesson is if you want to get a leg up in your workplace, do your existing job well.

2. You’ve been in the job for a while.

According to the same study, in 30% of cases, time in the role was a factor in the decision to promote someone. What this means is that you will need to stick it out in your current role – as well as do a great job – if you want to rise through the ranks.

3. You put the hours i ... Read More

Currency traders turning Japanese

The Bank of Japan’s recent signal that it will continue to relax monetary policy has provided opportunities for currency dealers, with US dollar/Japanese yen positions one of the more popular trades in recent times.

“The US dollar/Japanese yen has been a renewed favourite amongst traders,” says Francisco Solar, head of FX Asia Pacific for currency house Easy Forex.

“The recent strength of the US dollar and the green light seemingly given to the Bank of Japan by the global community to continue its loose monetary policy has meant all eyes are on the US dollar against the Japanese yen,” he explains. Solar says the currency markets are looking for the dollar to move beyond 94 yen towards 100 yen to the US dollar.

According to Solar there has also recently been a focus by traders on currency pairs that have demonstrated a stron ... Read More

Tough rules around collecting valuables inside your SMSF

You can use your self-managed super fund to collect almost anything of value – but there are strict rules about what you can do with these assets once they are inside the trust, say SMSF experts.

Kane Munro, director of accountancy practice Accountancy Online, says there is a virtual treasure trove of assets you can collect in your super fund, including most artwork, jewellery, antiques, artefacts, coins, postage stamps, memorabilia, some motor vehicles and wine or spirits.

“A Black Caviar print signed by Peter Moody or the Shroud of Turin could both theoretically be held in an SMSF provided you don’t break the SMSF rules,” says Munro.

“As long as you have a legitimate and documented investment rationale behind holding the specific asset and also comply with the ever narrowing rules on how you hold it, then most collecti ... Read More

Banish bad debts from your business

It’s a horror story: what started as a perfectly good commercial arrangement ends up not just in court, but in the appointment of liquidators, as a result of non payment of debts.

This is exactly what happened to Richard Burne, founder of PR and marketing firm Max&You.

“We are in the final stages of winding up a non paying client. We have been chasing the debt for two years. Initially we used our own systems, then got our lawyers involved, went to a magistrate and debt collectors. We’ve now instigated wind up proceedings resulting in liquidators being appointed,” he explains

Experts say the best way to avoid ending up in this situation is to put in place the proper procedures to reduce the risk of bad debts in the first place.

Angela McDonald, founder of debt recovery bu ... Read More