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Seeking Optimal ETF Execution in Electronic Markets: Part 1


Exchange Traded Funds (ETFs) have had a phenomenal run in recent years, with both their number and assets under management … Read more

EDM Blind Spot #1: Data Silos. Just Ask Madoff


By Paul McPhater, COO Enterprise Software at Markit  Read more

Market Data Fee Reform Coming


The topic of market data and its relationship to the national market system is defined under the 1975 Amendments to … Read more

Nefarious Flickering, Quote Burst or ETFs: Are Equities Becoming a Quote-driven Marketplace?


When we think of the equities market, traditionally we think of an order-driven market—a market where, with their orders, hundreds … Read more

MetaData and Orders:  Why Low-Touch Trading Really Isn’t


By Jay Biancamano, Hoyvin  Read more

VIX Follows Realized Vol Lower


Yesterday afternoon I had the chance to discuss the VIX with Jonathan Ferro on Bloomberg TV. Continue reading on The … Read more

Block Trading in Today’s Electronic Markets


Block trading, or trades with sizes much larger than average, has been a feature of equity markets for a long … Read more

Navigating Liquid Alternative Mutual Funds


By Jerry Szilagyi, Catalyst Mutual Funds  Read more

Global Regulatory Arbitrage and the Asian Time Bomb


By Zohar Hod, SuperDerivatives Read more

Why is Mid-Point a “Fairer” Price?


Mid-point is a “fairer” price. Why? At first glance it appears mid-point is fair because both the buyer and seller … Read more

Can We Eliminate Data Latency —or Just Strive to Tighten Up Differentials?


Last week, we posted a blog link to a white paper on “SIP vs. Direct Feeds” that reflected on the … Read more

SIP vs. Direct Feeds Latency – What are the Rules?


Michael Lewis’ book, Flash Boys, reinvigorated an old debate – latency. Some market participants receive quote and last trade information … Read more

MTS Swaps: Interest rate swaps – electronic trading and the new regulatory reality


It’s no longer business as usual in the world of interest rate swaps. Electronic trading and central counterparty clearing are … Read more

Factors Affecting VWAP in Futures: Volatility and Pricing Risk (Part 3 of 3)


When traders have a large size of futures contracts to trade, liquidity become more precious and rapid market price movement … Read more

Factors Affecting VWAP in Futures: Spread Cost and Liquidity (Part 2 of 3)


Bid-Ask spread is a significant portion of trade cost, especially for aggressive orders (e.g. a large VWAP order which needs … Read more

Delivering Customization AND Speed for Trading Technology


Customization is a critical component of all B2B products, but is frequently an area where promise and reality diverge. Often … Read more

Factors Affecting VWAP in Futures: Volume Profile Predictability (Part 1 of 3)


In today’s complex and low-latency electronic futures trading marketplace, achieving optimal execution performance with a Volume-Weighted-Averaged-Price (VWAP) trading strategy has … Read more

Raising the Standards in Order Router Transparency


At Tradebook, we believe that it is the broker’s responsibility to protect the client in the marketplace. Transparency breeds trust, … Read more

Introduction and Growth of VIX


With the creation of the VIX index in 1993 and the subsequent listing of tradable futures and options in 2004 … Read more

Big Data at the SEC


One thing everyone agrees on when it comes to the U.S. Equity market structure is that it’s incredibly complex. The … Read more

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