Bonds and Billions 3.0...Tradeweb Markets, one of the original electronic bond trading pioneers, which first introduced its dealer consortium platform in 1996, proved that patience is a virtue when it comes to monetizing enterprise value. The company raised $1.1billion via its Nasdaq-listed IPO yesterday (NASDAQ:NW). Illustrating investor attraction to owning…Read More
For those who missed the MarketsMuse memo from Jan 14, there appears to be yet another exchange coming to the US Equities markets, as if the industry needs one more platform to facilitate trading in publicly-listed stocks. The latest platform, which is still on the whiteboard, is a consortium-based initiative…Read More
[caption id="attachment_5639" align="alignleft" width="150"] NYSE DMM Citadel Securities started as a HFT prop trading firm[/caption] Something funny happened on the way to the floor of the New York Stock Exchange last week; Citadel Securities and Virtu Financial, two of the three biggest NYSE “Designated Market-Makers” aka “DMM”) --also domain experts…Read More
Stock Price Implosion Leads Some to Challenge Current Market Structure; HFT Firms Are Under Attack, Again… Heads Up to High-Frequency Firms: Time to Hire a PR Crisis Manager Again, Call Your Lobbyists, Book Your Plane Tickets to Washington DC. Before “bidding on” to the anti-HFT and anti-ETF remarks circulated by…Read More
The never ending battle to electronify the secondary market for corporate bonds has yet another new entrant that aims to disintermediate corporate debt dealers that 'control' the trading in what has morphed from a $2trillion market to a $9 trillion marketplace during the last decade alone. As profiled by CNBC…Read More
Trifecta Month for GTS; NYSE DMM, Quant-Trading Powerhouse and Fin-Tech Think-Tank Now Aligned With Investment Bank Specializing in Primary Debt & Equity Capital Markets GTS, the NYSE's Top DMM, and one of the global trading market's leading multi-asset electronic market-makers, is on a strategic deal-making binge. On the heels of…Read More
Broker Rebates From Exchanges and HFT Firms May Be Securities Fraud, Says Federal Judge Broker Rebates, Payment-for-Order-Flow ("PFOF") and "Pay-to-Play" have become synonymous with new world order in which exchanges, dark-pool operators and high-frequency trading ("HFT") firms, (the so-called "flashboys") dominate the world of stock trading. While many Wall Street…Read More
Digital Token Offerings & Securities Regulation: Are you an ICO or STO? (the following is courtesy of Prospectus.com LLC) A question that is harder to ask than whether asked if your product is butter or margarine. Blockchain token sales (aka initial coin offerings or “ICOs”) reportedly topped $5 billion in…Read More
Morgan Stanley Raises Its Hand and Appoints e-Trading Veteran to lead investment bank's scheme for the Electronification of Fixed Income Markets. Electronic bond trading has long been a holy grail for certain folks in and around Wall Street. On the one hand, reducing head count and mitigating dependence on high-paid sales…Read More
Tom Farley, the former top gun at the NYSE, has long advocated the benefits of raising capital via the construct of Special Purpose Acquisition Company aka "SPAC", aka "Blank Check company." Now he's become the CEO poster boy for SPACs with the formal IPO and NYSE listing of Fintech SPAC…Read More
Securities Token Offering to Displace Initial Token Offering Fad; BOX in JV with digital broker-dealer tZero to Create Securities Token Exchange platform (Redistributed with permission from BrokerDealer.com; story from Traders Magazine)-Well, Matilda, the Boston Options Exchange (BOX) is plotting to create the first regulated exchange to list and traffic in…Read More
What's Next? CryptoCurrency Bank License; Crypto Cool Kids New Goal: Stay Inside Regulatory Goal Posts Coinbase Inc. and another cryptocurrency firm talked to U.S. regulators about the possibility of obtaining banking licenses, a move that would allow the startups to broaden the types of products they offer. Coinbase, which operates…Read More
Goldman Sachs, the venerable investment bank and trading house, has been called lots of things, including "Squid." But nobody on Wall Street can dispute the fact that $GS is uniquely innovative and perhaps, a firm that can smell the trail of money better than its peers and explains why Goldman is…Read More
Alpha Trading Labs, the Chicagoland fintech "crowd sourcing startup" has thrown the gauntlet down and threatens to democratize the sacred world of HFT wonks, those hoodie-wearing quant jocks who occupy $1mil per yr cubicles at high-frequency trading firms like Virtu, Citadel, Jones Trading, Hudson Trading, and Two Sigma (among others).…Read More
An SEC subpoena is not exactly what any Issuer (or stock promoter) puts on the top of their birthday wish list. And, for crypto cool kids who are either already a member of the ICO Issuers Club, or who have applied to become part of the dapper dapp crowd that…Read More
Asset Management Industry is Notorious for Waste: Its About Blockchain, You Blockheads. NOT Bitcoin, Blockchain Dapps Can Mitigate Risk of “Death By Drop Copy” Any asset manager in today's world who has more than $500 of AUM does not need to be fluent in the language of fintech, blocktech or…Read More
(MarketsMuse fintech and blocktech curators extend our thanks to Prospectus.com LLC for the following contribution)-Bloomberg Intelligence reporter Jonathan Tyce wins the Valentine's Day Award for Very Good Framing courtesy of his latest piece "Blockchain is Coming Everywhere, Ready or Not" --one of a series of articles by Tyce that puts…Read More
JERSEY CITY, N.J., Jan. 17, 2018 /PRNewswire/ -- ETF broker WallachBeth Capital, a leading institutional brokerage firm, has announced the Phase I roll out of its internal proprietary Quote Capture platform. The platform further enhances WallachBeth's commitment to providing institutional clients the highest degree of transparency throughout the ETF execution…Read More
