Oliver Renick and I had a good discussion about what caused (and didn’t cause) the equity market sell off in October 2018. I’m a market structure guy, not an equity strategist. But market structure certainly should be examined when thinking about why markets do what they do; in this case, the growth of passive investing […]
Tag: Algorithmic Trading
Global FX Investors Increasingly Seek Non-bank Liquidity
Below is the press release for my most recent paper examining changes in the global FX market. The bottom line: big banks will continue to play a huge role, but non-bank liquidity providers will up there game increasingly interacting directly with institutional investors. Bloomberg News also highlighted our finding that hedge fund use of execution […]