Silver as an investment

Category Archives: Reg NMS

ALERT: Markets to implode, only FX will be left

Warning to investors – traditional markets are flawed.  In one of many hypothetical futures, not so far in the future, FX may be the only game in town.  As we explain in Splitting Pennies – Understanding Forex – it’s FX that drives the world, not stocks, bonds, commodities, or real estate.  Let’s take a quick […]

FX the next market to normalize after IEX approval

The recent news that IEX was approved as a ‘fair’ exchange by the SEC is great news indeed.  Although it seems to be the beginning of a long battle, as lawyers already threatening the SEC with lawsuits.  But anyway – it’s a great step in the right direction for fair markets onshore in the US.   […]

HFTs Lose: IEX Granted Exchange Status As SEC Says The Speed Race Is Over

Earlier this week when we reported that the SEC staff had unexpectedly granted approval of the IEX exchange, the culmination of a long battle between free and unrigged market supporters on one hand and the HFT lobby and the NY Fed’s “arms length” HFT operation and gargantuan retail order internalizer better known as Citadel on […]

Theft Of Opportunity – The Impact Of Reg NMS On The Retail Investor

Submitted by John Marchisi (former US Stock Exchange Official), via Nanex.net, There has been a certain buzz on the street revolving around possible new regulation shortly coming into effect, regarding the need for improved transparency within the capital markets. Unfortunately, I fear the perception as to there is such a need for change has missed […]

The CME Admits Futures Trading Was Rigged Under Old System

Ask any trader what they believe to be the hallmark feature of any “rigged market” and the most frequent response(in addition to flagrant crime of the type supposedly demonstrated every day by Deutsche Bank and which should not exist in a regulated market) will be an institutionally bifurcated and legitimized playing field, one in which […]

“The Liquidity Just Dries Up In A Stressed Market” – How HFT Killed FX Trading

Two years ago, when looking at the first available public data out of HFT frontrunning powerhouse Virtu, we observed the surge in net income from FX at the expense of all other traditional product categories, and reported what we thought was “The One Financial Product Now Targeted By The HFT Swarm” – currencies and FX […]

Meanwhile, Over At The “New York” Stock Exchange: Towers With Frickin’ Laserbeams Attached To Their Heads

Back in March, when looking at the main antenna array at the real “New York” Stock Exchange located off Route 17 and MacArthur Boulevard in Mahwah, New Jersey, we noticed something peculiar: instead of just housing various now traditional microwave dishes…   … a new device had quietly appeared.   The “device”, as Extremetech explained […]

Beware The “Massive Stop Loss” – JPM’s Head Quant Warns This Unexpected Downside Catalyst Looms Next Week

The uncanny ability of JPM’s head quant, Marko Kolanovic – the man Bloomberg recently called “Gandalf” due to his predictive success – to call key market inflection points has been extensively documented on these pages, most recently a month ago when we showed that just after he said the “rally drivers are gone with downside […]

Who Will Be Blamed?

It was one week ago, when we read with great curiosity (and commented on) a research report drafted by none other than the NY Fed called “The Liquidity Mirage“, which was not only a confirmation of our article from July explaining “How High Frequency Traders Broke, And Manipulated, The Treasury Market On October 15, 2014“, […]

It A “Liquidity Mirage”: New York Fed Finally Grasps How Broken The Market Is Due To HFTs

In the aftermath of the October 15th, 2014 Treasury flash crash that was much fake “confusion” among the punditry about what caused the dramatic 20-sigma move in the 10 Year treasury. For us, however, there was no confusion, it was all due to a vicious case of HFT algo quote stuffing – a key component […]