Market Structure Insights
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...
May 21, 2014
It’s time we had The Talk. Candid discussions can be uncomfortable. They broach subjects we prefer to avoid. But we can’t ignore the facts of life. One such fact is Contingent Absolute Return Autocallable Optimization Securities. We’re more comfortable talking about diarrhea, right? Bring them...