market structure
The FICC Markets Standards Board (FMSB) has published the first in a series of papers called Spotlight Reviews, which looks at emerging themes and challenges in algorithmic trading and machine learning. The series will consider issues of FICC market structure and the impact of regulatory and technological change on the fairness and effectiveness of wholesale […]
Long term readers and listeners to our In the FICC of It podcast will know that I am sceptic when it comes to some of the claims made about crypto markets – especially that they are something new and innovative. My scepticism was reinforced this week when I received some research from crypto liquidity provider […]
As I am making predictions this week, and for once it seems to have gone OK (still time, I know), let’s maintain the momentum. When the world comes out of this crisis, financial markets will look different, but very familiar to some. I was talking to a friend who runs a fintech business in our […]
I occasionally get the odd bit of grief from those who disagree with my views, no more so than when I criticise the shift towards an equities market model. Criticism has never bothered me, someone much smarter and more successful than me once told me she preferred to talk to people who disagreed with her […]
Market structure dominates this week’s podcast as Colin Lambert goes to town on the SEC’s refusal to grant Cboe permission to implement a speed bump (and along the way take a few pops at the equity market structure of course), before touching upon news that the LSE-Refinitiv deal may be delayed and what that means […]
Thursday’s column elicited quick a bit of feedback – most of it, it has to said, suggesting that I had wasted my time writing it! The strong consensus out there is that the zero brokerage model will not work in foreign exchange. In my defence, I was actually asking the question rather than answering it […]
This column may come across as irritable, confused or just an incoherent babble – but all I can say is that the nation you love only wins the world championship in a sport you love for the first time once, but unfortunately I had to sit up until 5am to actually see it (and actually […]
Probably the big news in markets this week was the swingeing cuts at Deutsche Bank and while I cannot see this through anything other than a prism of regulation – specifically the courage of some regulators to take action while other put their head in the sand and hope it goes away – I wonder […]
For all the talk of institutionalising crypto markets, progress is slow – Colin Lambert talks to Campbell Adams, founder and CEO of Pure Digital about how he plans to accelerate the transformation Although the end result in terms of hard numbers doesn’t really tell the story, the creation of the FX Pure trading platform, which […]
There’s something for everyone in this week’s In the FICC of It podcast as Colin Lambert and Galen Stops traverse the US legal system, trading, crypto and China.
Listen in as Lambert explains why he is mystified at the prosecution’s flip-flop in the Mark Johnson case and angry at the FX industry’s previous lack of effort to explain how markets work to the US legal authorities; and Stops takes a look at a new report n his favourite industry – CTAs. Having had the data explained to him, Lambert also thinks he knows why some CTA sectors are doing well and some aren’t, so that’s another of his “theories” then…
Our podcasters then move onto debate whether crypto markets will evolve to an OTC model and whether this would be a good thing for attracting institutional money to what is still a relatively nascent market.
Stops closes out by reporting from an analysts’ briefing this week that highlighted a change in approach on the part of China to its programme of liberalisation of the yuan.
