When most people think of cryptocurrencies, they probably think of bitcoin. And a few might also think of Ether, the cryptocurrency that powers the Ethereum blockchain. Their next thought though, might be about one of the many scandals that have...

I wish we could get away from calling every bout of extreme price volatility a flash crash. Markets crash and rebound - they always have. Today it can happen in a few minutes, back in the 80's it would take a few days. But the causes are often the...

Over the last decade we've seen the talent pool for trading and space exploration become increasingly overlapped.  Science-based PhDs can now either send a man to Mars or help make markets in US Government Bonds.  But that's not actually...

US equity markets will today flip the switch on a pilot program that will change the way some 1,200 small cap stocks are traded. Unfortunately, the Tick Size Pilot Program as it is known will likely end up as a costly failure, increasing complexity...

Fintech is disrupting credit trading in ways bond dealers likely never envisioned a decade ago. Greenwich Associates and Asset.TV recently discussed how the barriers to entry to starting new trading venues have come down thanks to cloud...

Blockchain technology, now often referred to as Distributed Ledger Technology (DLT), is taking financial services by storm. Recent work by Greenwich Associates shows that financial services companies are investing heavily in bringing the technology...

The majority of startups fail.  A little googling told me that over 90% fail within three years.  Despite the fact that the cost of starting a company has decreased considerably via cloud computing and open source technology, taking into...

The financial services sector first started paying attention to bitcoin in 2014, but quickly decided that it was the underlying technology – the blockchain – that interested them most. There are many reasons large banks give to explain why they will...

Market structure principles, not prescriptions, are needed for the U.S. Treasury market The U.S. Treasury market needs more oversight. Our research and my personal observations over the past several years have made that clear.  Oversight,...

From a fund type perspective, it should come as no surprise that hedge funds - nearly 90% of those in our study - use derivatives, above the roughly 60% of asset managers that do the same.  Their leveraged approach to investing coupled with...