Guest commentator David Weisberger examines the validity of the latest iteration of the speed bump as put forth by CHX and wonders if it is a step backwards.
Are you reducing your research commission spend based on MiFID II requirements?
- My spend is unchanged
- MiFID II had nothing to do with spend changes
March 29, 2017 – Vinay Trivedi, Senior Vice President, Strategic Initiatives & Head of FX Sales, APAC at FlexTrade Systems, discusses trends in FX markets and trading technology, specifically how the buy side is using aggregation tools and algorithmic trading through the execution management system (EMS) to seek the best price in Asian currency markets.
March 29, 2017 – DTCC's utility system issues more LEIS in ramp up to MiFID II.
March 28, 2017 – In this week's On The Move, Tabb's Andy Nybo departs for greener pastures at ICAP while BTIG continues it debt group buildout by hiring yet another veteran. Also, one former CBOE exec is forming his own firm and Standard Life hires, plus more.
March 28, 2017 – The exchanges might be losing or seeing a critical source of revenue trimmed, if the Securities and Exchange Commissions acting head has something to say about it.
March 28, 2017 – David Weisberger of Exquam looks at the history of how the Order Protection Rule came to be a part of Regulation NMS and why he feels it's time to eliminate it.
March 28, 2017 – Baymarkets announced its new Clarity system - a platform for agile development of client specific solutions aimed at institutions active in the Financial Markets, such as banks, brokers, exchanges & trading venues and clearing houses.
March 27, 2017 – In our weekly recap and outlook, the markets experienced a change in sentiment which could be a prelude to fast approaching month-end trading patterns.
March 27, 2017 – BRI Partners announced that it has launched the next generation of hedge fund indexes beginning with the BRI Long/Short Equity Index (BRILSE), calculated by Wilshire Associates.
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.