Treasury Secretary Mnuchin recently blamed high frequency trading and the Volcker Rule for recent volatility in the markets. While I love to see high ranking government officials talking about market structure, his statements felt surprisingly uninformed coming from someone who has spent their entire life on Wall Street. Today I discussed this on Bloomberg TV, […]
Tag: bloomberg tv
Price Makers and Market Makers are Not the Same
My latest Greenwich Research found that investors have seen a decline in dealer sourced liquidity, and that they’re concerned about it. It also found that more than expected are making prices in the bond market. It is very important to note, however, that price making is very different from market making. I explain in detail […]
US Treasuries are trading electronically, but we still need bond traders
I recently spoke with Bloomberg TV about a recent Greenwich Associates research report that examined the growth in electronic trading of US Treasuries by US investors. The US Treasury market is an obvious one for electronification – the products are standard, liquid and the number of market participants is large. But relationships still matter, and […]
Bloomberg TV: What’s Best for High Frequency Trade Regulation?
On the heels of the Senate hearing into high speed trading, I joined Sal Arnuk from Themis Trading on Bloomberg TV to discuss the best way forward for equity market structure.
Chatting with Bloomberg TV about Cheaters on Wall Street
Bloomberg TV’s Market Maker’s program had a great segment on why people cheat on everything. I was lucky enough to discuss with them the role cheating has on Wall Street – and why high frequency trading is not cheating.
Making Proprietary Trading Public: My Interview with Bloomberg TV
First KCG and now Virtu. In 2008 no one would have guessed that in 2014 automated trading firms would be publicly traded companies – but here we are. Investors have a new way of getting in on the profits behind liquidity provision, and the market as a whole has new insight into how these firms […]