In this commentary from Convergex's Eric Noll, he reports that the tick pilot is producing expected results - such as increased trade size and more price volatility. However, he noted that one test group bears closer scrutiny amid information leakage concerns.
What asset class are you planning to expand trading into or covering in 2017?
- Fixed income
January 13, 2017 – In this guest commentary from David Weisberger of IHS Markit, he examines the fact that most buyside firms only analyze the executions that they receive from their broker dealers, but not all of the unfilled orders sent on their behalf. These unfilled, unmeasured orders, however, provide needed insight into both opportunity cost and market impact.
January 13, 2017 – Redwood Asset Management is now set to offer four new actively managed exchange traded funds (ETFs) exclusively on the Neo Exchange.
January 12, 2017 – Clearpool unveils their new corporate identity with a new website and logo as part of a corporate rebranding initiative announced today.
January 12, 2017 – The difficulties of meeting new European regulations, which come into force in less than a year, for best execution, dark trading caps and trading dual-listed shares have come into focus as the market awaits more guidance from the European Securities and Markets Authority.
January 12, 2017 – In this article, guest commentator Alton Hill, Co-Founder of Tradingsim covers the top 50 day trading myths that are floating around in the trading community.
January 12, 2017 – Cloud-based risk and compliance platform adds features to help buy-side and sell-side better prepare for MiFID II obligations.
January 11, 2017 – Foreign exchange technology firm FastMatch has now opened its trading platform and liquidity seeking algorithms to the sell-side and smaller banks.
January 11, 2017 – Wall Street Horizon, a corporate events surveillance firm, and Estimize, a financials estimates platform, announced they have partnered to provide their respective datasets to each others platforms in an effort to help investors find additional sources of alpha.
Highlights from the Current Issue
Once a plain-vanilla add-on to an exchange offering, market data has evolved into a key battleground between market participants, i.e. the consumers of market data, and market operators, the producers of market data.
Some major trends in the options market have been the same for a number of years. Flat volumes. Marketplace fragmentation. A bifurcation of liquidity. But at least one noteworthy development is of a more recent vintage: auctions.
When Regulation National Market System was established in 2005, George W. Bush was five months into his second term as U.S. President. A lot has changed in 11 years, both in the world at large and in financial markets. So it stands to reason that Reg NMS, the sweeping ruleset that was aimed at modernizing and strengthening equity market structure, has passed its best by date.
In a complex electronic equity marketplace with myriad points of contention, maker-taker stands out as especially complex and contentious. But many wonder, is it time for this pricing schema to go the way of the Edsel?
If it ain't broke, don't fix it. That's the view of many trading professionals regarding the upcoming U.S. presidential election, with "it" referring to the economy and markets.
High-frequency trading has served as sort of a catch-all, market bogeyman phrase for about the past half-dozen years, or about as long as the methodology has been in the awareness of the general public. But now perhaps that perception is finally changing.
In this contributed piece from Andrew Upward of Weeden & Co., the broker analyzes how regulator have gone on record with some new thoughts about how best execution should be pursued in light of new technologies and practices.
North American equity exchanges face swirling winds: rapidly advancing technology, evolving market structure, and the arrival of a splashy new competitor.
So-called dark pools are getting less dark. Well, sort of.
For market participants and operators standing on a shore, the Consolidated Audit Trail is like a distant ship on the horizon. It's moving very slowly - so slow that sometimes movement is imperceptible. And it has been out there on the water for what seems like a very long time. But as hard as it may be to envision, one of these days, the ship will dock, and all its details will be known.
With a half-dozen meetings under its belt, its fair to say the 20-month-old Equity Market Structure Advisory Committee has moved beyond the brand-new stage and is doing what it was established to do act as a consigliere to the U.S. Securities and Exchange Commission on all things pertaining to equity market structure.