Today, October 3rd, US equity markets will 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,...

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...

The recent theft of $70 million dollars worth of Bitcoin from one of the leading exchanges and the attempted theft of $50 million of the digital currency Ether, highlight security risks. that apply to permissioned blockchains being developed for...

The past few years have introduced us to several people and new companies with this passion for changing how bonds are traded.  In every single meeting that I've been lucky enough to have with these innovators, I'm continuously impressed with...

The implications of a state sponsored crypto-currency.

The U.S. Treasury market needs more oversight. Our research and my personal observations over the past several years have made that clear.  Oversight, however, does not mean highly prescriptive rules that dictate everything from when you're...

We conducted over 200 interviews with institutional investors around the world and found that more buy side FX traders use derivatives than those focused on other asset classes.

Last week I attended the sold-out Empire Startups FinTech conference in NYC. From the moment I walked in I realized this was not your typical stop on the conference circuit...

Implementing a pilot that will narrowly look at just one part of our controversial market structure will not result in any meaningful improvement.

The buy side's ability to make a price in the market does not make them market makers.