Themis Trading Blog

Michael Lewis’s Flash Boys – and its Accuracy

03

Oct, 2014

FlashBoys

 

Ever since Flash Boys was released this past spring, stock market insiders have not been shy in their complaints of a few factual inaccuracies in the book. These complaints have been spewed loudly at market structure conference after conference, in speeches, notes to clients, and even in blog posts. Most troubling is how they have been spewed by senior regulators. At first, we were amused. We privately laughed – knowing that the book had struck truth, and knowing that the best proof that it had done so was…
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Derek Jeter Just Started Fragmenting Sports Content!!!

03

Oct, 2014

jeter

 

Remember when stocks were pretty much traded on the NYSE and NASDAQ, with the exception of the Greyhound Bus Company, which traded on the Amex?

Then Instinet came along. And Bernie Madoff. Then Optimark, but not really. Then the Arizona Stock exchange, but not really.Then Bloomberg Tradebook. Then REDI, ARCA, ATTN, ISLD, POSIT. Then more dark pools. Then ping destinations. Then off exchange electronic-routing flashes….

Sheesh. The market got all fragmented, as well as competitive and complex. It got weird, with all kinds of conflicts of interest in where an order would be…
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HFT Lobby Position Paper on Market Structure – and Trojan Horses

01

Oct, 2014



Some Advice For Would-Be Corporate Bond Market Structure Reformers

26

Sep, 2014



New SEC Data Proves What We Already Knew: Small Cap Spreads Are Wide and Liquidity Is Scarce

25

Sep, 2014



Order Type Madness Part CXXIII – Thanks Bloomberg!

24

Sep, 2014



Hi Manoj!

22

Sep, 2014



The Curious Case Of Latour Trading

18

Sep, 2014



September 11th 2014 – Empty Sky

11

Sep, 2014



Consumer Federation of America White Paper on Market Structure

10

Sep, 2014



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