When we first heard the news of the recent collapse of the acquisition of the Chicago Stock Exchange by a Chinese-led investor group, we started thinking about who might make a bid for the CHX.  Our first thought was Nasdaq since they currently own “only” three stock exchanges (Nasdaq, BX and PSX) compared to the Cboe and NYSE who each own four stock exchanges.  But according to the WSJ, our guess would have been incorrect.  The Journal is reporting that NYSE is in talks to buy the Chicago Stock Exchange for $70 million which is $50 million more that (more…)

  Do you remember Haim Bodek?  We first wrote about Haim back in October 2012 in a post titled “Who is Haim Bodek?”.  Haim was the first whistleblower to expose how a major stock exchange (Direct Edge) created an order type (Hide Not Slide) that provided HFT firms with unfair advantages that propelled them to the exchanges’ best prices at investors’ expense.  Back in 2012, the financial media was all over this story and market structure savvy journalists like Scott Patterson were able to shine a light on these shady exchange practices.  Scott’s article “How “Hide Not Slide” Orders Work”  was a virtual blueprint in how unsuspecting investors were (more…)