Commentary

Geoff McCabe
Traders Magazine Online News

Divi - a Future Proof Cryptocurrency

Geoff McCabe, co-founder of The Divi Project, shares his thoughts on the new cryptocurrency he's helping to create to combat the shortfalls of bitcoin and other coinage.

Traders Poll

In this anonymous poll, Traders Magazine wants to know if your firm is MiFID II compliant as of 1/2/18?

Yes

40%

No

23%

Still working on it in some form

38%

Free Site Registration

March 23, 2005

Is Free Riding Good for Markets?

By Gregory Bresiger

Free riding can sometimes be helpful. That's the contention of pension fund TIAA-CREF Investment Management, which argues against the trade-through rule, in a report to the Securities and Exchange Commission. TIAA-CREF agrees that the NYSE plays a dominant role in price discovery, but nevertheless argues that "an ATS such as Liquidnet, ITG's POSIT, or any upstairs market maker can play a major role with regard to quantity discovery."

An ATS's quantity discovery role can have a positive effect on price discovery, according to the report by TIAA-CREF managing director Paul Davis, and professor Robert Schwartz.