Wall Street is nearing a big win with the latest revamp to the Volcker Rule, which should clarify what trading is allowed and what is prohibited and hopefully drive the banks to provide more liquidity, says TABB Group founder and research chairman Larry Tabb in this week’s market structure video. Next, Tabb discusses the ongoing struggles at Deutsche Bank, including the collapse of its potential deal with Commerzbank, and why US banks seem to be dominating their European competitors. In buy-side news, he looks at declining fund prices, Fidelity’s new online data-protection business, and Schwab’s ascension on Wall Street as a retail powerhouse. Moving to the exchange space, Tabb notes that CME Group earnings fell 17% in the first quarter and that Deutsche Borse’s chairman plans to step down. He also examines issues in the futures market from the transition away from LIBOR, the controversy over new HFT microwave towers, and a lesser-known tip to lower market data costs. In addition, Tabb highlights Project Mars, an effort to modernize the bond market, and the benefits of active bond trading. Turning to crypto, he talks about Bakkt’s efforts to add digital asset custody services amid its fight for regulatory approval, the SEC’s new token framework, and the four institutional requirements for crypto trading. And in the tech space, he points out key insights regarding machine learning and the controversy over alternative data. Finally, Tabb offers a tribute to former CFTC commissioner Bart Chilton, who passed away last week.
Source: TABB TV
Categories: Crypto, Currencies & Commodities, Derivatives, Equities, Fintech, Fixed Income, Regulatory
Topics: Compliance, Custody and depository, Data management, Derivatives trading, Economy/Economic Policy, Equity trading, Fixed Income, High Frequency Trading, Market data, Market structure: Exchanges, ATSs, ECNs, Regulations, Risk management, Trading technology infrastructure