Size matters
An industry colleague pointed me towards an interesting YouTube video the other day that helps illustrate the importance of tick size in the global battle between primary and alternative trading venues. The video is from an alternative venue (or PTS) in Japan called SBI Japannext which, together with... Read More
The changing face of Asian markets
Episode 5 of FragVision is now available featuring a discussion with Stephen Edge, Principal of Asia Etrading, about the key issues affecting Asian markets. As always, feel free to comment. Content on this page requires Adobe Flash Player, click here if you cannot see the video. Click here to see all... Read More
Poachers turned gamekeepers
Interesting to read the venerable Leo Melamed’s open letter in the FT this week on HFT and regulators. The CME’s chairman emeritus certainly makes a good point when he says that trying to stifle innovation is both wrong and inevitably doomed to failure, but I am not sure he’s completely right in... Read More
All I want for Xmas is exchange consolidation/competition (delete as appropriate)
Despite all the announcements, press briefings and other hullabaloo it looks like the BATS/Chi-X deal is the only one that’s actually going to get done this year. SGX/ASX and LSE/TMX are just two of the higher profile casualties in the global game of exchange Monopoly. Add to this the conversations... Read More
And the good news is….
Feels like it’s a pretty tough time to be in global banking right now. If it’s not falling volumes then it’s layoffs or, worse still, actors like Bill Nighy bleating on about the need for a Robin Hood tax hitting the headlines. And on both sides of the Atlantic we have regulators that seem... Read More


