https://tabbforum.com/opinions/the-strange-economics-of-exchange-management/ Kurt Dew Northeastern University - "The markets are evolving toward a two trading-space system. The first: exchanges trading SEC-regulated publicly held corporate equity and debt; the second: exchanges trading more generic non-SEC-regulated markets." ... "There is a growing opportunity for a new blockbuster exchange to seize the volume going to generic futures and OTC instruments by a single exchange with spot trading capability. But to be successful, this spot market must be at least as efficient as the existing futures markets, reducing trading costs to a minimum, thereby attracting volume."
https://seekingalpha.com/article/4314747-msci-esg-related-business-can-take-stock-price-to-new-all-time-highs?source=feed_all_articles [Editors Note: Read between the lines of investment advice for the trend] Bridger Research - "MSCI is the sole leader with the most technically advanced products in the ESG related portfolio construction and analytics market"
https://www.govconwire.com/2019/12/palantir-to-help-integrate-army-data-under-other-transaction-agreement/ GovCon Wire - “The problem for Army’s leaders and commanders at every level is you’re trying to make decisions off of accurate data but the data is stored in so many places, it’s often very hard to figure out what’s going on,” said Doug Philippone, lead of global defense at Palantir. “What we did was integrate thousands and thousands of different data tables together so that you can make better decisions.”
https://tabbforum.com/opinions/the-problem-with-algo-wheels/ Michael Mollemans - TABB Group "The problem with algo wheels, however, is that they tend not to account for the risk factors underlying the fat-tail distribution of algo returns, and algo wheel selection processes often turn into a game of guessing the finer points in the algo wheel’s logic. The better the guess, the better the fit to the algo wheel, the better the ranking. All in all, algo wheels need to go beyond gross median cost calculations to include standard deviation risk factors, as well as netting out market and sector betas, or the end result likely will be broker algo rankings that just oscillate between best to worst and then from worst to best along a mean reverting system over time." Click here for other articles on the wheel.
https://news.crunchbase.com/news/grafiti-a-search-engine-for-charts-raises-nearly-1-6m-in-pre-seed-funding/ Jason D. Rowley Crunchbase - "Headquartered around the corner from a diabolically delicious pizza shop in Brooklyn, New York, Grafiti is a startup aiming to solve just that. Its stated goal, to build the leading search engine for charts and data visualizations, belies a broader mission: to help people surface insights from a mass of mostly-structured, increasingly visual information sources." Grafiti https://beta.grafiti.io/ Google Dataset Search https://toolbox.google.com/datasetsearch
From Beginning to ‘N’: What the History of Regulations from Reg ATS to Form ATS-N Tells Us About the Future of Dark Pools
https://tabbforum.com/opinions/from-beginning-to-n-what-the-history-of-regulations-from-reg-ats-to-form-ats-n-tells-us-about-the-future-of-dark-pools/ Craig Viani Liquidnet - "Based on the intensification of regulatory scrutiny in the past few years, it’s probable that the number of US dark venues will remain stagnant for a period of time. Additionally, with future rule changes such as proposed amendments to Rule 605 requiring greater granular statistical measures of execution quality17, we believe that it’s likely the competitive landscape will remain in a narrow band for the coming years."
https://www.tradersmagazine.com/departments/algos/academic-research-takes-center-stage-at-iex/ Elaine Wah - "After opening the call for papers in early August, we received nearly 60 submissions — addressing a wide range of modern market structure topics. We ultimately selected eight papers, some of which focus on the most important issues being debated today, others on those which will likely be discussed in years to come. For those who were not able to attend, we are providing brief summaries of the eight papers in this blog post. Of course, as we cannot do full justice to the papers here, we encourage you to read the papers, which are hosted on the conference website."
http://svdaily.com/refinitiv-appoints-news-industry-veteran-as-head-of-news-performance/ BUSINESS WIRE - "New role created in response to increased demand for trusted news in turbulent geopolitical environment." ... "Refinitiv has appointed Richard Mably as Head of News Performance to enhance the value of Refinitiv’s extensive news coverage to help power and advance the financial community." ... " Refinitiv has invested heavily to expand news coverage on the Refinitiv Data Platform in response to demands from customers for market moving insight across the globe. Refinitiv now carries news from over 10,000 sources up from 7,000 thousand sources two years ago."
https://tabbforum.com/opinions/blockchain-for-the-buy-side/ Monica Summerville TABB Group - "The areas of significant benefits in using blockchain-based solutions were overwhelmingly cited as improved clearing and settlement as well as increased operational efficiency. The areas in which respondents said blockchain would have a significant impact over the next five years were: Fees and costs. Compliance and regulation. Data management." Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market, the companies said. https://www.coindesk.com/vanguard-developing-blockchain-platform-for-6-trillion-forex-market
https://tabbforum.com/opinions/revised-sec-rule-606-shines-a-light-on-order-routing-disclosures/ Ivy Schmerken FlexTrade Systems - "Currently, an OMS has the primary level information, and gets the last market where the order was executed, including whether it added or removed liquidity, and it can calculate execution costs based on known fees, explained Chu. “But, if those algo providers routed the order to another venue or exchange, and that gets routed out further, we don’t have that secondary or third-level or fourth-level of information today,” said Chu. “There’s no structure to get that information today,” he said. Gathering the information on these downstream orders has been a challenge, especially if brokers utilize more than one OMS or have an EMS, said Chu. “If our clients use us solely for their trading, we have all the data in the OMS, so we would provide the data over to the 606 [data] vendor,” said Chu. “When some clients use another OMS or EMS, we have no visibility.” "