Industry WIKI

The flash crash of May 6, 2010, , also known as the crash of 2:45 or simply the flash crash, was a United States trillion-dollar flash crash (a type of stock market crash) which started at 2:32 p.m. EDT and lasted for approximately 36 minutes.

Algorand is a proof-of-stake blockchain and cryptocurrency. Algorand's native cryptocurrency is called ALGO.

Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of computers relative to human traders. In the twenty-first century, algorithmic trading has been gaining traction with both retail and institutiona

Augur is a decentralized prediction market platform built on the Ethereum blockchain. Augur is developed by Forecast Foundation, which was founded in 2014 by Jack Peterson, Joey Krug, and Jeremy Gardner. Forecast Foundation is advised by Ron Bernstein, founder of now-defunct company Intrade, and Ethereum founder Vitalik Buterin.

Avalanche is a public blockchain and smart-contract platform launched in September 2020 by the American company Ava Labs. The platform's native cryptocurrency is AVAX.

Banc De Binary was an Israeli financial firm with a history of regulatory issues on three continents. On January 9, 2017, the company announced that it would be closing due to negative press coverage and its tarnished reputation. The firm also surrendered its brokerage license with the Cyprus Securities and Exchange Commission (CySEC) removing its ability to legally trade in the European

Binance Holdings Ltd., branded Binance, is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao. It was initially based in China, then moved to Japan, subsequently left Japan for Malta, and now has no official company headquarters.

A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The former pays some fixed amount of cash if the option expires in-the-money while the latter pays the value of the underlying security. They are also cal

BitMEX was a cryptocurrency exchange and derivative trading platform incorporated in the Seychelles. It was operated by HDR Global Trading Limited.

The Canadian Securities Administrators (CSA; French: Autorités canadiennes en valeurs mobilières, ACVM) is an umbrella organization of Canada's provincial and territorial securities regulators whose objective is to improve, coordinate, and harmonize regulation of the Canadian capital markets.

Clearfield Trust Co. v. United States, 318 U.S. 363 (1943), was a case in which the Supreme Court of the United States held that federal negotiable instruments were governed by federal law, and thus the federal court had the authority to fashion a common law rule.[1]

A commodity broker is a firm or an individual who executes orders to buy or sell commodity contracts on behalf of the clients and charges them a commission. A firm or individual who trades for his own account is called a trader. Commodity contracts include futures, options, and similar financial derivatives. Clients who trade commodity contracts are either hedgers using the derivatives m

A commodity market is a market that trades in the primary economic sector rather than manufactured products. The primary sector includes agricultural products, energy products, and metals. Soft commodities may be perishable and harvested, while hard commodities are usually mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets ca

A Commodity pool operator (CPO) is an individual or organization that solicits or receives funds to use in the operation of a commodity pool, syndicate, collective investment vehicle, investment trust, or similar structure, specifically for trading (buying and selling) of and in commodity interests. Such commodity interests include commodity futures, swaps, options and/or leverage transa

A commodity trading advisor (CTA) is US financial regulatory term for an individual or organization who is retained by a fund or individual client to provide advice and services related to trading in futures contracts, commodity options and/or swaps. They are responsible for the trading within managed futures accounts. The definition of CTA may also apply to investment advisors for hedge

Commodity trading in China has a short but high-growth history. With an increasing product variety and deepening liquidity pools, the mainland's futures market is playing an increasingly important role in serving the national economy.

Contango is a situation in which the futures price (or forward price) of a commodity is higher than the spot price. In a contango situation, arbitrageurs or speculators are "willing to pay more for a commodity [to be received] at some point in the future than to purchase the commodity immediately. This may be due to people's desire to pay a premium to have the commodity in the future rat

In finance, a contract for difference (CFD) is a financial agreement between two parties, commonly referred to as the "buyer" and the "seller." The contract stipulates that the buyer will pay the seller the difference between the value of an asset at the time the contract was initiated and the current value of the asset. If the asset's price increases from the opening to the closing of t

Crypto.com is a Singaporean cryptocurrency exchange company that offers various financial services, including an app, exchange, and noncustodial DeFi wallet, NFT marketplace, and direct payment service in cryptocurrency. As of June 2023, the company reportedly had 100 million customers and 4,000 employees.

A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency excha

The Depository Trust & Clearing Corporation (DTCC) is an American financial market infrastructure company that provides clearing, settlement and trade reporting services to financial market participants. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.

The Dubai Mercantile Exchange (DME) is a commodity exchange based in Dubai currently listing its flagship futures contract, DME Oman Crude Oil Futures Contract (OQD). Launched in 2007, the DME aims to become the crude oil pricing benchmark for the Asian market with its Oman Crude Oil contract, like the Intercontinental Exchange’s (ICE) North Sea Brent is to Europe and the New York Mercan

A family office is a privately held company that handles investment management and wealth management for a wealthy family with the goal being to effectively grow and transfer wealth across generations. The company's financial capital is the family's own wealth.

The Financial Crisis Inquiry Commission (FCIC) was established in 2010 in the United States to investigate the causes of the 2008 financial crisis. The commission, led by Phil Angelides, held public hearings, gathered testimony from hundreds, and released its report in January 2011.

Financial innovation is the act of creating new financial instruments as well as new financial technologies, institutions, and markets. Recent financial innovations include hedge funds, private equity, weather derivatives, retail-structured products, exchange-traded funds, multi-family offices, and Islamic bonds (Sukuk). The shadow banking system has spawned an array of financial innovat

The Financial Literacy and Education Commission (the Commission) was established under Title V, the Financial Literacy and Education Improvement Act which was part of the Fair and Accurate Credit Transactions Act (FACT) Act of 2003, to improve financial literacy and education of persons in the United States. The FACT Act named the Secretary of the Treasury as head of the Commission and r

The Financial Stability Oversight Council (FSOC) is a United States federal government organization, established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Barack Obama on July 21, 2010. The Office of Financial Research is intended to provide support to the council.

Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud in early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission.

Foreign exchange regulation is a form of financial regulation specifically aimed at the over-the-counter Forex market that is decentralized and operates with no central exchange or clearing house. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial markets.

The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain. Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion per day fo

Forex.com is a foreign exchange (FX) and contracts for difference (CFD) trading brand owned by StoneX Group. In the United States, it is operated by GAIN Capital Group LLC, a wholly owned subsidiary of StoneX Group Inc.. The brand offers leveraged trading in currencies, commodities, indices, and cryptocurrencies.

The Frazier–Lemke Farm Bankruptcy Act was an Act of Congress passed in the United States in 1934 that restricted the ability of banks to repossess farms.

FTX Trading Ltd., trading as FTX (Futures Exchange), is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and collapsed in 2022.

A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future. Futures exchanges provide physical or electronic t

GAIN Capital Holdings, Inc. was a US-based provider of online trading services, headquartered in Warren, New Jersey until it was acquired by StoneX Group in 2020. The company provided market access and trade execution services in foreign exchange, contracts for difference (CFDs) and exchange-based products to retail and institutional investors. Trading was provided via one of two electr

Gemini Space Station Inc. (Gemini) is an American cryptocurrency exchange and custodian bank. It was founded in 2014 by Cameron and Tyler Winklevoss.

High-frequency trading (HFT) is a type of algorithmic automated trading system in finance characterized by high speeds, high turnover rates, and high order-to-trade ratios that leverages high-frequency financial data and electronic trading tools. While there is no single definition of HFT, among its key attributes are highly sophisticated algorithms, co-location, and very short-term inve

Hong Kong Mercantile Exchange (Chinese: 香港商品交易所; abbreviated as HKMEx) was an electronic commodities exchange established in Hong Kong for the trading of commodity futures, options and other financial derivatives. The exchange was originally pitched as a platform to trade oil futures. In fact, it ended up trading mainly silver and gold futures.

ICE Clear Credit LLC, a Delaware limited liability company, is a Derivatives Clearing Organisation (DCO) previously known as ICE Trust US LLC which was launched in March 2009.

Inflation hedge is an asset, contract or strategy that aims to preserve purchasing power when the general price level rises (that is, inflation). Definitions differ. Research separates expected inflation, which may already be priced, from unexpected inflation which is an unanticipated change. The effectiveness of any hedge depends on horizon and regime. Over twelve-month horizons some as

The International Organization of Securities Commissions (IOSCO) is an association of organizations that regulate the world's securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country. Its mandate is to:

Intrade.com was a web-based prediction market which offered a platform where individuals could place bets on future outcomes. After having been forced to exclude US traders in 2012, on 10 March 2013 Intrade suspended all trading, citing possible "financial irregularities". For a time after the suspension, the intrade.com website stated that they were working on a relaunch of the site, ca

IQ Option is a binary options trading broker that also offers services in Forex, stocks, and cryptocurrencies. The company was founded in 2013. In 2017, IQ Option shifted its focus to CFDs and cryptocurrencies, though binary options remain a significant part of its operations in certain markets, particularly where regulations are less stringent.

Jerry W. Markham is a professor at the Florida International University College of Law, and a legal scholar on business organizations and securities regulation in the United States. He has been quoted or cited as an expert on the regulation of financial and commodities markets in a wide variety of news sources, and his three-volume collection, A Financial History of the United States, ha

Jon Paul Ruggles (born November 28, 1973) is an American executive known for founding Monroe Energy and creating an internal trading house for Delta Air Lines that earned $420 million in trading profits in its first year. According to CNBC, Delta hired Ruggles as vice-president of fuel in 2011 to help right a fuel-hedge book that had been losing the airline money. He managed to generate

Kalshi Inc. is a prediction market platform based in Manhattan, New York City, that launched in July 2021. The platform is used primarily for sports betting, which constitutes more than 90% of site activity and 89% of revenue in 2025. Analysts describe activity on the platform as "heavily tied to the sports calendar". Individuals can place bets on other future outcomes, including economi

Kraken (legally named Payward, Inc.) is a US-based cryptocurrency exchange, founded in 2011. It is the first cryptocurrency company to obtain a bank charter. In 2025, Kraken began allowing the trading of tokenized equities by non-US customers.

LME Copper is a group of spot, forward, and futures contracts, trading on the London Metal Exchange (LME), for delivery of Copper (Grade A), which can be used for price Hedging, physical delivery of sales or purchases, investment, and speculation.

A managed futures account (MFA) or managed futures fund (MFF) is a type of alternative investment in the US in which trading in the futures markets is managed by another person or entity, rather than the fund's owner. Managed futures accounts include, but are not limited to, commodity pools. These funds are operated by commodity trading advisors (CTAs) or commodity pool operators (CPOs),

In finance, market data is price and other related data for a financial instrument reported by a trading venue such as a stock exchange. Market data allows traders and investors to know the latest price and see historical trends for instruments such as equities, fixed-income products, derivatives, and currencies.

MF Global Holdings Ltd., formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in 2011. MF Global provided exchange-traded derivatives, such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global Inc., its broker-deal

In finance, MIDAS (an acronym for Market Interpretation/Data Analysis System) is an approach to technical analysis initiated in 1995 by the physicist and technical analyst Paul Levine, PhD, and subsequently developed by Andrew Coles, PhD, and David Hawkins in a series of articles and the book MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets. Latterly,

A money market fund (also called a money market mutual fund) is an open-end mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments while paying income to investors in the form of dividends. Although they are not insured against

Multi Commodity Exchange of India Limited, also known as the Multi Commodity Exchange of India (MCX), is an Indian commodity exchange. It was established in 2003 and is currently based in Mumbai. It is India's largest commodity derivatives exchange. The average daily turnover of commodity futures contracts increased by 26% to ₹32,424 crore during FY2019-20, as against ₹25,648 crore in FY

The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City.

Nouriel Roubini (born March 29, 1958) is a Turkish-born American economic consultant, economist, speaker, and writer. He is a professor emeritus since 2021 at the Stern School of Business of New York University. Roubini earned a BA in political economics at Bocconi University in Italy and a doctorate in international economics at Harvard University. He was an academic at Yale University

Novig is a sports-focused prediction market platform based in New York City. It is regulated as a financial exchange rather than a sportsbook.

OneChicago was a US-based all-electronic futures exchange with headquarters in Chicago, Illinois. The exchange offered approximately 12,509 single-stock futures (SSF) products with names such as IBM, Apple and Google. All trading was cleared through Options Clearing Corporation (OCC). The OneChicago exchange closed in September 2020.

Osaka Dojima Exchange, Inc. (ODEX) is a Japanese corporation that operates a listed derivatives exchange that follows the tradition of the Osaka Dojima Rice Exchange of the Edo period. Formerly a "Mutually Owned Commodity Exchange" under the Commodity Futures Act, the company was reorganized as a joint stock company on April 1, 2021, and became a "Stock Company Operated Commodity Exchang

Pakistan Mercantile Exchange, formerly known as National Commodity Exchange Limited is a futures commodity exchange based in Karachi, Pakistan. It is the only company in Pakistan to provide a centralised and regulated place for commodity futures trading and is regulated by Securities and Exchange Commission of Pakistan (SECP). It began its full trading operations on 11 May 2007.

Polymarket is an American cryptocurrency-based prediction market which offers a platform where individuals can place bets on future outcomes, including sports matches, economic indicators, weather patterns, awards, political and legislative outcomes, and military conflicts. Participants can deposit cryptocurrency through the Polygon blockchain network and trade shares that represent the

Prediction markets, also known as betting markets, information markets, decision markets, idea futures, or event derivatives, are open markets that enable the prediction of specific outcomes using financial incentives. They are exchange-traded markets established for trading bets in the outcome of various events.

PredictIt is a United States-based online prediction market that offers exchanges on political and financial events. PredictIt is a project of the Prediction Market Research Consortium, a not-for-profit organization, for educational purposes and is supported by Aristotle, Inc. The company's office is located in Washington, D.C. Only United States citizens can bet on the site.

Following is a partial list of professional certifications in financial services, with an overview of the educational and continuing requirements for each; see Professional certification § Accountancy, auditing and finance and Category:Professional certification in finance for all articles.

Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchang

The Securities Investor Protection Corporation (SIPC) is a non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970 that most US-registered broker-dealers are required to join. Although created by federal legislation and overseen by the Securities and Exchange Commission, the SIPC is neither a government agency no

Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities. Investors buy and sell through broker-dealers and have their assets retained b

In finance, a single-stock future (SSF) is a type of futures contract between two parties to exchange a specified number of stocks in a company for a price agreed today (the futures price or the strike price) with delivery occurring at a specified future date, the delivery date. The contracts can be later traded on a futures exchange.

SOFR Academy, Inc. is an American financial market infrastructure company focused on developing benchmark credit-spread infrastructure designed to complement risk-free reference rates in global capital markets. In connection with global reference rate reform and the transition away from the London Interbank Offered Rate (LIBOR), which underpinned approximately US$400 trillion in financia

Spoofing is a disruptive algorithmic trading activity employed by traders to outpace other market participants and to manipulate markets. Spoofers feign interest in trading futures, stocks, and other products in financial markets creating an illusion of the demand and supply of the traded asset. In an order driven market, spoofers post a relatively large number of limit orders on one sid

A swap execution facility (SEF) (sometimes swaps execution facility) is a platform for financial swap trading that provides pre-trade information (i.e. bid and offer prices) and a mechanism for executing swap transactions among eligible participants.

Swift v. Tyson, 41 U.S. (16 Pet.) 1 (1842), was a case brought in diversity in the Circuit Court for the Southern District of New York on a bill of exchange accepted in New York in which the Supreme Court of the United States determined that United States federal courts that heard cases brought under their diversity jurisdiction under the Judiciary Act of 1789 must apply statutory state

Systemically important financial market utilities (SIFMUs) are entities whose failure or disruption could threaten the stability of the United States financial system. To date eight entities in the U.S. have been officially designated SIFMUs.

Tether is a stablecoin—a digital currency whose value aims to maintain a stable value relative to the United States dollar—launched by Tether Limited in 2014. It is represented by its currency codes USD₮ and USDT.

Tether Limited is a financial technology company that issues the Tether stablecoin (USDT), the world’s largest stablecoin by market capitalization. Founded in 2014, Tether pioneered the concept of fiat-backed digital currencies pegged 1:1 to traditional currencies (initially the U.S. dollar). USDT has become a key source of liquidity in the cryptocurrency market, with over $170 billion i

A Trade Repository or Swap Data Repository is an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives. These electronic platforms, acting as authoritative registries of key information regarding open OTC derivatives trades, provide an effective tool for mitigating the inherent opacity of OTC derivatives markets.

A trading room gathers traders operating on financial markets. The trading room is also often called the front office. The terms "dealing room" and "trading floor" are also used, the latter being inspired from that of an open outcry stock exchange. As open outcry is gradually replaced by electronic trading, the trading room becomes the only remaining place that is emblematic of the finan

Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of exchanges like the New York Stock Exchange and rules of self-regulatory organizations

The Volcker Rule is section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. § 1851). The rule was originally proposed by American economist and former United States Federal Reserve chair Paul Volcker in 2010 to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers. It was not implemented until

ICE Futures Canada (IFCA)—known as the Winnipeg Commodity Exchange (WCE) until 2008—was a derivatives market based in Winnipeg, Manitoba, and was Canada's only commodity futures exchange.

The President's Working Group on Financial Markets, known colloquially as the Plunge Protection Team, or "(PPT)" was created by Executive Order 12631, signed on March 18, 1988, by United States President Ronald Reagan.