Blogs

As a sign of the evolving U.S. equity trading landscape, two startups and one options exchange operator plan to launch as many as three new exchange platforms in 2020, and a fourth could be waiting in the wings. Emphasizing the need for competition and innovation in US equity market structure, new entrants have downplayed the increased connectivity costs and additional fragmentation of orders across trading venues.

by Ivy Schmerken, Editorial Director There is still uncertainty around the fate of the Order Protection Rule, a key rule governing U.S. stock trading that has led to more complexity, speed and order types, but also protects retail investors from receiving inferior prices on their orders. Also known as the trade-through rule, Rule 611 has …

After more than a decade of debate, regulators are poised to act on a pilot for maker-or-taker pricing, a practice whereby market makers are paid a rebate to add liquidity and are charged a fee to remove liquidity by electronic trading venues. FlexTrade’s Ivy Schmerken investigates.

From Revolution to Evolution in the Search for Liquidity and Alpha Smart Order Routing (SOR) has ebbed and flowed as a topic of interest in the financial industry.  Because the functionality has become commonplace in the market, its presence in institutional trading platforms has nearly become an afterthought.  But its necessity is without doubt, especially ...