Market Structure Insights
May 8, 2013
If you appeal a parking ticket to the Parking Department, what’s your expectation of objectivity? The Parking Department collects revenues. Which brings us to word circulating last week from CEO Duncan Niederauer that NYSE Euronext and other exchanges are confronting the growing problem of off-exchange...
May 1, 2013
What if we forecasted the weather on temperature moving-averages? It would seem silly. After all, ENIAC ran the first mathematical computations for a weather model in 1950. ENIAC is not an Icelandic singer. It’s the first true computer and was built by University of Pennsylvania...
April 24, 2013
We assume investors know how markets work. What if they don’t? Patrick Armstrong, new president of the Securities Traders Association of New York (STANY), told Traders Magazine yesterday that the buyside has been absent from the market-structure debate. What debate? If you joined the IR...
April 17, 2013
You’ve heard that bit of cowboy wisdom on how to double your money? Fold it over and put it back in your pocket. I hear folks wanting cowboy wisdom on market structure. What do I need to grasp? In that sense, this could be the...
April 10, 2013
Palo Alto is a great town. While there sponsoring IR Magazine’s West Coast Think Tank last week we feasted at Evvia and Fuki Sushi. Denver’s got fine sushi. Our Sushi Den on South Pearl Street flat demoralizes Bryant Park’s Koi. Proprietors Toshi and Yasu Kizaki...
April 3, 2013
Do sharks belong in the ocean? You might reply, “They certainly don’t belong on land.” But that’s not what I mean. This isn’t a lesson on catachresis or other obscure grammatical and rhetorical principles, rest assured. But speaking of speaking, if you’re joining IR Magazine...