MiFID II – 10 key takeaways that will give you indigestion
Just back from a two week trip around Asia and Australia that took in dark pool seminars in Hong Kong and Singapore and attendance at the FPL conference in Sydney. In my absence, it seems like the Eurocrats in Brussels have been busy as the official version of the widely leaked MiFID II proposals came out last Thursday. For a good roundup of the general themes look no further than... Read More
Market data and the prisoner’s dilemma
The prisoner’s dilemma is an aspect of game theory that shows why two individuals might not agree, even if it appears that it’s best to do so. In its simplest version, two prisoners have to decide whether to assist or betray one another. If they co-operate then they both receive relatively light punishments, whereas a betrayal by one prisoner means that the other is severely... Read More
FragINSIGHT – taking a closer look at Asia Pacific
Welcome to the September issue of FragINSIGHT which provides an in-depth study of the Japanese market and an update on developments in Australia, together with our regular analysis of fragmentation across the USA, Canada, Europe and Japan. Also included on page 4 is a useful at-a-glance summary of the global regulatory spectrum. Download your copy here. Thanks to everyone for their... Read More
Divided we stand, united we fall
To say that it has been a turbulent time in global equities markets is something of an understatement, but the European picture provides some interesting pointers to the bigger geopolitical debate that’s going on. A couple of events in particular caught my attention. First, there was the ban on short-selling in banking stocks imposed by France, Italy, Spain and Belgium and the... Read More
Australia joins the global fragmentation movement
I was a guest last week to mark the opening of the Australian Liquidity Centre which is not, as you might think, the latest trendy Sydney nightspot. Instead it’s the name chosen by ASX for its impressive new co-location facility and represents the exchange’s latest move to meet the imminent opening up of equities trading Down Under. The transfer of market supervision from... Read More
The R word
In Episode 4 of FragVision we look at the R word – Regulation. Pretty much whatever your role in financial markets these days you will be faced with a wall of regulatory noise that needs to be interpreted and acted upon. This episode looks at how the original intentions of some of these proposed regulations have been hijacked by the politicians and who is likely to be better off... Read More
