Market Structure Weekly with Larry Tabb: ‘Shocking’ Regulatory Proposal, Farewell Commissioner Jackson, Regulators’ Tech Troubles, Brexit Fears, Quant Struggles, the Power of Index Providers, Disappearing Jobs and Bonuses, Speeding Up the SIP, Closing Competition, EU Market Structure, IEX’s D-Limit, RFQ for Options, a New Derivatives King of the Hill, the Rise of Trend Analytics, and more

TABB Group founder and research chairman Larry Tabb kicks off this week’s market structure segment with a look at what Better Market’s Dennis Kelleher called a “shocking” and “jaw-dropping proposal” from Randy Quarles, a member of the Federal Reserve Board of Governors, that would weaken “every aspect” of government oversight of Wall Street. Tabb then discusses SEC commissioner Robert Jackson’s impending departure from the regulator and his assertion that market regulators are struggling to keep up with technology. Next, Tabb highlights fears that the UK will have to accept the EU’s rules in order to continue to business with Europe post-Brexit and five key volume trends that have emerged in European equities under MiFID II, as well as quants’ recent struggles, the power of the top index providers, HSBC’s equities job cuts, and Deutsche Bank’s shrinking investment bank bonuses. Turning to equities, he talks about Cboe’s efforts to speed up the SIP, the shakeup coming to the close, 10 topics to watch in EU market structure, changes to the consolidated tape, and IEX’s D-Limit order type proposal. In the derivatives space, Tabb looks at the arrival of RFQ for options and the world’s new largest derivatives exchange, and in fixed income he focuses on the disclosure of big bond trades, the new kings of the bond market, State Street’s plan to sell its FX trading system, and the electronification of large bond trades. Finally, Tabb highlights the rise of trend analytics for equity trading and the challenge banks face in managing intraday liquidity.

Source: TABB TV

Categories: Currencies & Commodities, Derivatives, Equities, Fintech / Crypto, Fixed Income, Regulatory

Topics: Algorithm, Compliance, Data management, Derivatives trading, Equity options, Equity trading, ETFs, Fixed Income, FX trading, IT governance/infrastructure, Liquidity management, Low-latency, Market data, Market structure: Exchanges, ATSs, ECNs, Market Surveillance/Technology, Regulations

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