Commentary

David Weisberger
Traders Magazine Online News

Are Speed-Bumps, Market Structure's "Back to the Future?"

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.

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MiFID II had nothing to do with spend changes

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Latest News

SEC Goes to T+2 Settlement Cycle

– The time it takes to settle equity and fixed income trades just got shorter.

CEO CHAT: Global Liquidity's Lang Says Dark Pools Are “Clean”

– In a blog shared with Traders Magazine, Global Liquidity Partners CEO Tim Lang shares his thoughts on the toxicity levels of U.S. dark pools.

Broker Votes Get Quant Clarity

– Whether preparing for MiFID II or implementing best practices, buy-side firms are enhancing their broker votes with quantitative data regarding the brokerage research that they consume

InvestCloud Launches Emerald for Robos and Hybrid Wealth Managers

– InvestCloud has released Emerald, a new solution for Robo-Advisors and hybrid wealth managers that empowers them with an end-to-end solution for portfolio management, trading, accounting, payments and fee management.

Plato Partnership Completes Deal with Trade Informatics’ PLIA platform

– Plato Partnership has signed a collaboration agreement with Trade Informatics PLIA to offer its PLIA counterparty risk assessment platform in Europe. The new platform will be called PLIAPlato as part of this deal.

NYS Comptroller Reports Wall Street Compensation Up 2% to $23.9 Billion

– New York State Comptroller Thomas P. DiNapoli noted in his most recent report that the bonus pool for Wall Street employees rose 2% to $23.9 billion during the December-to-March bonus season.

High-Touch Hangs On in Equities

– Fund managers still prefer high-touch, rather than electronic, execution for more than a third of US cash equities and non-US cash equities according to new research.

ONEaccess Unveils Research Valuation Solution for MiFID II Compliance

– ONEaccess, a Visible Alpha company, announced new enhancements to its platform that will allow asset managers to comply with MiFID II requirements.

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Highlights from the Current Issue

The Market Data Battleground

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.

Options Auctions Vex Market Makers

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.

Re-Imagining Reg NMS

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.

Maker-Taker Under the Microscope

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?

November 8 Looms Large

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.

Spotlight on HFT Dims

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.

Market Structure Insights

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.

Equity Exchanges Evolve

North American equity exchanges face swirling winds: rapidly advancing technology, evolving market structure, and the arrival of a splashy new competitor.

Shining Light on Dark Pools

So-called dark pools are getting less dark. Well, sort of.

CAT Moves Forward: Slowly

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.

EMSAC Comes of Age

With a half-dozen meetings under its belt, it’s 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.

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