Breaking News

Tag Archives: PDQ ATS

John Lothian Newsletter: Nasdaq NLX holds fees ahead of LCH Spider; Eurex to launch buy-side clearing access model; Fintech’ Start-Up Boom Said to Threaten Bank Jobs John Lothian Newsletter,Newsletter

First Read Squeezing Pennies: Clearing Houses Reach For Compression, Margin Relief and Netting By Sarah Rudolph and Jim Kharouf, JLN When it comes to clearing and settlement today, the name of the game is capital efficiency. With a host of regulations hitting the market, particularly with bank capital requirements under Basel III, exchanges and clearing houses are moving quickly to find ways for banks and clearing FCMs to lower the amount of cash they need to hold onto in the name of lower systemic risk. It is an interesting time to be in the clearing space, as clearing firms offer…

Let’s Pause a Moment: Keith Ross Talks Dark Pool Rules and IEX Interview,Regulation,Tech / HFT,Video

The addition of high speeds and multiple execution venues has altered the equity market structure in recent years. Now the SEC is weighing in with newly proposed rules on dark pools. Meanwhile, IEX, which rose to fame with Michael Lewis‘ Flash Boys, is trying to move from dark pool to full-fledged exchange. Keith Ross of PDQ Enterprises says transparency is a good thing, and a market pause has its benefits in alternate venues, but as an exchange could create chaos. When the Securities and Exchange Commission published its Regulation National Market System (Reg NMS) in 2005, only a small fraction of…

Speedy Delivery: Keith Ross on HFT, Reg NMS and Dark Pools Interview,Regulation,Tech / HFT,Video

Today’s financial markets can be summed up in three words – global, fast, and complex. But as the market structure evolves, so must the regulatory structure that oversees it. John Lothian News has spoken with several industry experts to create this series on the evolution of financial market structure. In Part 3, Keith Ross, CEO of PDQ ATS offers his thoughts on high frequency trading, Regulation NMS, maker-taker arrangements, and dark pools. He also expresses concern that the recent furor over HFT may lead to hasty decision making by legislative bodies rather than measured, thoughtful changes overseen by regulatory bodies…