The secondary market is where investors buy and sell securities, such as stocks, bonds, and mutual funds. Trades take place on the secondary market between other investors and traders rather than from the companies that…
This product expansion includes an extensive library of both liquid and less liquid, hard-to-value instruments across sovereigns, investment grade and high yield corporates, emerging markets, money market, U.S. municipa…
Single Dealer Platforms (SDPs) are an alternative source of liquidity for execution algorithms, alongside exchanges and ATSs, and are quite popular because they offer liquidity at no commission to brokers. But the way S…
As the crypto market has continued its volatile ride over the past year, most market participants would agree that regulators needed to step in and tame what has been – and in many cases still is – the Wild West of cryp…
The proposal, made by US regulator the Securities and Exchange Commission (SEC), is to amend Rule 3b-16 under the Securities Exchange Act of 1934 (Exchange Act), which “defines certain terms used in the statutory defini…
When brokers for institutional investors choose to route trades to market makers categorized as single dealer platforms they may not be getting the best prices for their clients, according to a new report from BestEx Re…
Since the Great Recession cross-border financial assets have grown nearly 60 percent. While cross-border bank lending has stayed relatively constant, cross-border portfolios and market-based finance have grown tremendou…
The landscape for wholesale gold trading is quite complex and constantly evolving. The three most important gold trading centres are the London OTC market, the US futures market and the Shanghai Gold Exchange (SGE). The…
One of the world's top nickel producers faces massive losses on its short positions after prices soared over $100,000 per tonne last week and forced the London Metal Exchange to halt nickel trading.
It was the mid-1990s, and, in lower Manhattan, a digital usurping was afoot. Computers had become integral to the workflows of technology-savvy traders and investors by then. But the broader financial industry was final…
ON JANUARY 7TH nine of America’s largest brokers and banks said they planned to launch a new equities exchange, dubbed the Members Exchange (MEMX). Though it has yet to gain approval from the Securities and Exchange Com…
Tradefeedr has launched a foreign exchange trading database platform that aims to connect the buy-side with brokers and banks to analyse execution analytics.
As summer starts, we thought it was a perfect time to update our “Intern’s Guide to the Market Structure Galaxy.” This short introduction has plenty of links for interns looking to take a deeper dive into the topics men…
Capital markets firms use vast amounts of historical and streaming market data to perform real-time analytics. They also use data to inform decision-making, from projecting asset-pricing movement and fund values to calc…
Wall Street may have re-entered bull market-territory, but increasing stock prices are not doing anything to revive investor interest in taking cryptocurrency companies public through special-purpose acquisition compani…
We recently discussed the ways in which exchanges can compete for retail order flow, including price improvement opportunities via their Retail Price Improvement (RLP) programs . Below we share additional details of RLP…
Doug Atkin and Bernie Madoff were engaged in a screaming match as two senior officials watched in wonder at the Washington, D.C., office of the Securities and Exchange Commission. On this day in 1991, the future Ponzi s…