DMA traders require direct, unmediated access to the markets, presenting clearing firms, Patsystems' James Tomlin says, with a pressing challenge: how can they compete for this lucrative business while maintaining adequate risk controls? Tolladay asks whether there is a need for real-time monitoring and surveillance of trading activity. DON'T MISSIf the real push for trade-at is to achieve more efficient markets and transparency, shouldn’t regulators be more agile and begin to fast track new ECN and exchanges? What would that do to the exchanges that are adamantly against dark pools? CarveOut Partners' Barry Smith takes a look. Financial InterGroup's Allan Grody explores why the fundamental pillar of our markets, the “same-price-for all,” is still necessary, if it ever was. The state of the securities business today is data, data everywhere and not a drop of information, Linedata's Gavin Little-Gill says. He examines three enterprise risk challenges and trends. | 
