Themis Trading Blog

CLS Blue Sky Blog: The Shrine of the Status Quo?

22

Jul, 2014

bluesky

 

“A clear and present danger exists that profit-seeking exchanges (and other trading venues) can be bribed to favor one group of traders over others.”

 

“In the field of market regulation, the SEC’s staff tends to worship at the Shrine of the Status Quo.”

 

“How did high frequency traders secure the loyalty of the dark pools?  Was it just the fees paid to the dark pool for co-location and private data feeds?  Or were there other side payments?”

 

“When one turns over a large rock in a field,…
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Major

18

Jul, 2014

Back in the early 1990s I worked at Instinet as a sales-coverage person. My job was two-fold: to assist our clients in trading and to develop relationships with them (and get them to trade more with Instinet). Some clients took to the system immediately; others not so much. It was a big challenge to convince passionate traders to trust their sensitive order flow to a machine. Even then there was the simple truth that trust ultimately is a bond formed between people – human beings. You trust a person by meeting them, looking them in the eye, and shaking their…
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