In response to shares of Anadarko Petroleum trading as low as a penny last week, Themis Trading raises questions to Anadarko about the stock's rapid descent in the context of the current market structure.
Distinguishing between "dark and lit" trading venues in strategy discussions must consider the order size because small trades parsed algorithmically across venues have a different impact on information leakage than block trades.
After last week's Hash Crash, James Angel of Georgetown University told CNBC he's worried about the next glitch. Circuit breakers are in place, but he's not sure how they will react when the next stress hits.
In Part II of their series, Capco consultants examine Canada’s new rules on dark pools, comparing the similarities and differences in the way that dark pools are regulated in Canada versus the United States.
The sense that inertia and incrementalism are the only approaches to solving market inertia does not necessarily have to be the case. What may be required is a systemic review of market structure itself.
Self-learning techniques, such as machine learning or artificial intelligence, offer a potential route for smart algos to identify new trading patterns and can also be used to discover new patterns of market abuse.
Based on what it calls 'the first meta-analysis of HFT,' Columbia Business School Professor Charles Jones finds that high frequency trading benefits liquidity and lowers trading costs, echoing other academic studies.
The study by Charles Jones cite the usual benefits of HFT: enhanced liquidity and more efficient markets. But what about the conflicts of interest and order types designed specifically for the benefit of high frequency players?
Regulators worry that high speed trading firms that act as both buyer and seller in the same transaction, known as wash trades, could be inflating the volume and distorting prices, reported The Wall Street Journal and CNBC.
Market structure in Mexico leads the way for Latin American electronic trading with some serious new infrastructure and support for local institutional trading and north to south flow from statistical arbitrage.
Trading firm Getco Holding Co said it
offered to take control of Knight Capital Group Inc in a
deal that values the electronic trading firm at $3.50 a share,
sending Knight shares up 15 percent in early trading Wednesday.