Even as Theresa May and the EU agreed to a six-month delay of the Brexit deadline, concerns that cross-border trading of UK and European stocks will be caught in the crossfire persisted, reports TABB Group founder and research chairman Larry Tabb in this week’s market structure video, while in the US, he notes, the Fed has proposed new “living will” rules for foreign banks. Next, Tabb looks at why Jane Street may have opened its doors to the Wall Street Journal, how Google is cozying up to asset managers, and what we can learn from Citadel’s data exhaust. Turning to equities markets, he examines the rise in European closing auctions, innovations in trade matching, the state of the transaction fee pilot, and the myth of the quant black box. Tabb also discusses the Virtu-MarketAxess tie-up and cannabis futures, before moving to the crypto space, including China’s mining ban and the improvement in exchange surveillance. On the tech side, he highlights Deutsche Borse’s deal for Axioma and potential acquisition of FX units from Refinitiv, Bloomberg’s decision to exit business lines, and the death of blockchain. And finally, Tabb dives into speed bumps, from his own piece on the challenges with ICE’s proposed asymmetric speed bump to the potential benefits of anti-latency arbitrage mechanisms.
Source: TABB TV
Categories: Currencies & Commodities, Derivatives, Equities, Fintech / Crypto, Fixed Income, Regulatory
Topics: Compliance, Data management, Economy/Economic Policy, EMS/OMS/Trading system, Equity trading, ETFs, Futures, FX trading, Market structure: Exchanges, ATSs, ECNs, Market Surveillance/Technology, Regulations, Research and analytics, Risk management, Trade Process Analysis, Trading technology infrastructure, Trading volumes, Transaction cost research