Market Structure Insights

July 2, 2014

Do you remember that movie, The Island?  The people who every day hope they’re selected to go to a tropical paradise are unwitting machinery for others. I won’t give it away in case you’ve not seen Scarlett Johansson and Ewan McGregor tearing through the sky...

June 25, 2014

On a hot Sunday 138 years ago today, Lieutenant Colonel George Armstrong Custer rode into the valley Native Americans called the Greasy Grass. The rest is history. Speaking of unexpected defeat, wonder what ambush caused yesterday’s sharp market reversal? Here’s a ModernIR Rule: The day...

June 18, 2014

If you’re in a tree sawing off a branch, note which side of it you’re standing on. The guy studying the branch was Brad Katsuyama, CEO at dark pool IEX, which has designs on exchange-hood. He was speaking along with others before that folksy and...

June 11, 2014

With crowning dreams of California Chrome and the unfortunately tinny conclusion to the equine trifecta dominating news, you might have missed what counted last week. There was Liquidnet, operator of a members-only trading market for the buyside (a “dark pool”), paying $2m to settle SEC...

June 4, 2014

We marked May’s end aboard a boat on the trade winds from Norman to Anegada in the archipelago of the British Virgin Islands. It’s an indisputable jewel of that empire upon which the sun once never set. Now, back to reality! “Arnuk and Saluzzi, the...

May 28, 2014

EDITORIAL NOTE: We’re right now plying the azure waters off Richard Branson’s Necker Island. The following edition of the Market Structure Map ran May 29, 2013, ahead of last year’s NIRI National Conference (if you’re heading to NIRI in Las Vegas this year, don’t miss...

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