Is it FINALLY time to Turn on the Lights? (to analyze order routing)

Bloomberg published an article called “Trader VIP Clubs, “Ping Pools” Take Dark Pool Trades to New Level” which described the rise of single dealer platforms.  While the article is accurate that such platforms are gaining market share, that they provide market makers a method to provide better liquidity to better clients, and that MiFID II … Continue reading Is it FINALLY time to Turn on the Lights? (to analyze order routing)

Sorry, but I cant be a counterpoint to IEX for free anymore…

  This is likely music to the ears of Mr.Katsuyama, but this post, which analyzes IEX's recent, self serving "paper" on "Incentivizing Trading Behavior" , will likely be my last, unless readers or their firms choose to support my efforts.... The primary problem with IEX’s narrative is that it is based on an illusion, that … Continue reading Sorry, but I cant be a counterpoint to IEX for free anymore…

Are Broker Dealers Ready for FINRA to Analyze their Routing?

(a more detailed version of this commentary can be found in the ViableMkts Library:  http://www.viablemkts.com/viable-markets-library/  ) Finra recently informed all of its member brokers that it would be conducting a review of their order routing practices and decisions.   While I think that such an analysis is much overdue, it should cause a great deal of consternation … Continue reading Are Broker Dealers Ready for FINRA to Analyze their Routing?

Artificial Intelligence in Trading Crypto Assets Might Not Be So Smart…

There is an old expression in computer programming: “Garbage in, Garbage out.”  The point of the expression is that if you program logic based on bad data or data derived from the wrong context, that the results will not be what you are looking for.   In the world of trading cryptocurrencies, the data supplied to … Continue reading Artificial Intelligence in Trading Crypto Assets Might Not Be So Smart…

BitCoin Futures: Boogeyman or Rational Evolution?

Today’s Headlines virtually ooze sensationalism as they inform investors that BitCoin a.k.a. “The boogeyman” is coming, in the form of futures contracts on the CME.   The news coverage ranges from the reasonable from Business Insider and the Wall Street Journal  to the ludicrous from CNBC, who stokes investor fears by comparing approval of BitCoin Futures … Continue reading BitCoin Futures: Boogeyman or Rational Evolution?