The Market Structure Map

April 19, 2011

You’ve asked about the Issuer Data Initiative – this effort with you to roll back the dark cloud of mystery that has fallen upon the data about your equity trading: We’re getting big helping hands. I’m in NYC this week for that reason. Hope to...

April 14, 2011

Sorry to keep you waiting this week! When the amount I’ve got to do confronts the limited intellectual capacity I’ve got, what happens is stuff takes longer. I just splashed through verdant Cincinnati, where spring runoff sluices from the hills and household names adorn the...

April 5, 2011

What if some mathematical calculations in the market are just there to get a reaction? Traders have not to my knowledge named them “Charlie Sheen.” But alert reader Walt Schuplak at the Market Intelligence Group in New York sent an item about rogue algorithms. Our...

March 29, 2011

Karen and I are getting in boat shape ahead of a trip to Antigua (Motto: “Don’t ever say the name ‘Allen Stanford’ around here”). But we’ve encountered obstacles to the cycling part of the regimen: Wind and fire. One more, such as earth, and we’ve...

March 22, 2011

Would you shrink your share base by 90%? What if it cleared noise out of your trading? NOTE: See the update on the Issuer Data Initiative at bottom. Citigroup, market cap $129 billion, plans to trim its 29 billion shares with a 1-for-10 reverse split....

March 15, 2011

The Ides of March today carries an air of foreboding that dates to Julius Caesar’s demise in 44 BC. Before Brutus colored the day red, Romans did on the Ides what any other urbane culture might: They feted Mars, god of war. It feels lately...

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