In celebration of Martin Luther King Day here in the U.S., the Glass Hammer will not be publishing today. That gives you more time to go along with today’s theme, “A day on, not a day off,” and do something to commemorate or demonstrate for civil rights.

In the future, The Glass Hammer will be publishing some articles on the outstanding accomplishments of women of color, and the unique challenges still faced by minority women in the workplace. If you are interested in seeing more coverage of this area, please write in and tell us what you think!

Additionally, The Glass Hammer is now following a new editorial calendar, which looks like this:

Mondays– Voice of Experience interviews- we interview women who have broken the glass ceiling and have made it to the top. What advice do they have for our readers? Mondays are also a chance for us to interview outstanding human beings who contribute to society greatly (as well as being excellent in their careers!). Look out for these articles under Spotlight on People.

Tuesdays– Work/life issues. How to have it all. We also cover Returner Programs on Tuesdays- so if you are looking to off-ramp or perhaps return after a career break, then watch this space!

Wednesdays– Career advice on to “how to” get to the next level. Expert answers from career coaches, lawyers, peers and mentors.

Thursdays– Industry news. We get deep into the functions of different parts of the sellside and buyside. We cover industry events.

Fridays- Fridays is when we can all have a little fun. Tune in for some hilarious true life tales from our writers and readers about what its like to work in financial services. We also cover ” passions” and we would love to hear what you live to do on the weekends! Evolved People have interesting lives.

As always, we love feedback. Write to our editor at erin@theglasshammer.com to let us know what you love, hate, or can’t get enough of.

The older generation of traders wouldn’t even recognize the U.S. markets anymore. The past decade has brought so many changes to the trading landscape that even today’s traders need help navigating the new territory. Technology has reduced the number of floor traders because of its ability to speed up an order as well as make the trade more efficient. The arrival of Order Management Systems has allowed traders to place orders in multi-asset classes. While the Reg NMS standards have been put in place to keep a fair and competitive U.S. marketplace, they too have altered the landscape…and we haven’t even gotten into the European markets with its MiFID initiative.

To discuss these and other recent developments, traders and industry professionals gathered at the Security Trader’s Association (STA) 82nd Annual Mid-Winter Event. The conference, which was put together by the Chicago division of STA, was held January 10-13, 2008 at the Chicago Hilton.

The three-day conference had a packed agenda including a panel covering Chicago’s buy side perspective on the marketplace. The discussion touched upon the sometimes volatile relationship between the buy and sell sides. During one heated panel discussion, buy side traders accused the sell side of exaggerating the amount of trades they actually made and the sell side accused the buy side of not making their orders clear enough. After the discussion calmed down, the participants on the panel explained that it was important to have a personal relationship with their sell-side counterparts. The panelists agreed that trust between the two parties is a key factor in successfully executing trades.

Alternative Trading Systems were also a hot topic. Kain Cederberg who sat on the panel from Institutional Capital, explained that, with the emergence of electronic venues, buy side institutions felt that they might be “in it for a while,” with regard to ATS.

Among the buy side speakers, the ominous sounding topic of “dark pools of liquidity” had many participants following the discussion. Joe Buerillo of IronBridge Capital Management, said his problem with these black holes in the marketplace is that you don’t know who is seeing the trades take place. He did admit that dark pools are part of the trading landscape and that the buy-side would have to learn to live with them, for now.

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Every year, I host a traditional holiday party called the Black and White Soiree. It’s a gathering of about 60 friends in my small vintage apartment. My friends Alanna and Megan help with the cooking because, as my mother would say, I am domestically challenged. I managed to make cookies but I told people they were for only decoration. They didn’t look edible although they managed to disappear, along with the other hors d’oeuvres.

Each year at the party, we raise money for a different charity. This year, we asked our guests to make an optional donation to breast cancer research. In honor of our charity, Megan found light pink M&Ms that I put out in crystal cocktail glasses. Then we also served Oreos, marshmallows and Hershey kisses to follow the theme. It was a classy affair made even fancier by the dress code. I requested black and/or white attire, no jeans.

The party took place on Saturday, December 15th, and Chicago had a horrible snowstorm that night. I remember looking out the window around 3 p.m. wondering if anyone would show up because of the weather. In the end though, I was impressed with the turn out. Inside we stood in my warm orange-spiced kitchen while a blizzard spun snow around us. I kept the keg on the porch so we never forgot how nice it was to be indoors. The room was filled with the scent of cloves and wine.

Most people drank sangria, except for those who braved the cold to get a beer from outside. We all raised our glasses and toasted to recent engagements, promotions and babies on the way. Our black and white outfits were decorated with light pink ribbons in the name of breast cancer research.

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Last night on London’s Liverpool Street, there was a glamorous gathering of designer bags and stiletto heels, all assembled with their occupants at the Financial News 100 Most Influential Women in the City Awards. The Great Eastern Hotel boasted a gathering of ladies sporting mainly black and navy suits (both skirt and pants variety), with crisp cotton blouses and luxury silk scarves featured prominently. Dior, Hermes, Ferragamo, Celine, Manolo et. al. were spotted in abundance. The Glass Hammer held its head high with your own correspondent sporting pearls, Gucci scarf and (vintage) Chanel jacket.

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Yes. There are endless free lunches, dinners and drinks if you do the conference circuit.

Are trade shows and conferences really worth going to? Every day there seems to an invitation in my inbox to be somewhere.

Last week the SIBOS show hit Boston. SIBOS is to men in financial technology what Christmas is to the rest of us. Gifts and drunk people.

Squeezy stress balls, free cocktail vouchers, karaoke hosted by Norwegian or Swedish banks. All in the name of straight through processing, clearing and settlement and all things IT for finance.

The topics discussed at SIBOS are not really life changing at all, but people in the office are ready to poison their co- worker’s coffee to make sure they get a spot.

The best thing about it is that it’s a traveling circus so some years you can get a really good vacation out of it. Sydney, Singapore, San Francisco and Stockholm have all been memorable. People have had to take many sick days after to recover from the jetlag and the booze.

Did Boston deliver the SIBOS experience? If you went, let me know who won the karaoke contest.

The New York Times ran a thought-provoking article this week called “Hedge Funds and Private Equity Alter Career Calculus,” by Louise Story. The article challenged the conventional wisdom that getting an M.B.A. puts young Wall Streeters on the fast track to top finance jobs. Instead, Ms. Story explains that many of today’s top performers in private equity and hedge funds are making way too much money in their first few years out of college to give up two years of earning potential and attend business school. Additionally, she provides a range of examples of 20-something finance whiz-kids who say that they can learn more and advance faster at their companies than by going back to school and pursuing a business degree.

Interestingly, the article quotes five men who all decided to forgo an M.B.A. and stay with their private equity, hedge fund or banking jobs, but only one woman, Katie Shaw, who left her private equity job for Harvard Business School. The other two women quoted in the article work as recruiters for major financial institutions, but were not asked about their personal decision to pursue an MBA or not.

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