Simplex Trading Disappears From Option Wholesaling
With the latest data in hand, Alphacution updates its analysis of troubled option wholesaler, Simplex Trading...
The Mother of All PFOF Charts – Q3 2022 Edition, Part II
Part II - Equity PFOF Volumes / Wholesaler Market Shares: Alphacution organizes and distills 33 months of payment for order flow (PFOF) data from 14 retail brokers and 13 wholesale market makers to place a wide-angle frame around the US Securities and Exchange Commission's upcoming proposals for a major equities market structure overhaul...
The Mother of All PFOF Charts – Q3 2022 Edition, Part I
Alphacution organizes and distills 33 months of payment for order flow (PFOF) data from 14 retail brokers and 13 wholesale market makers to place a wide-angle frame around the US Securities and Exchange Commission's upcoming proposals for a major equities market structure overhaul...
Simplex Trading Stumbles?
The Wall Street Journal reports that Simplex Trading may have - temporarily or permanently, we don't know - stopped accepting retail option orders. Alphacution provides some context around Simplex's option wholesaling business...
Alphacution Press: WSJ on Simplex’s Potentially Abusive Option Strategy
Alphacution provides data and analysis for The Wall Street Journal's Alexander Osipovich article, "High-Speed Trader Simplex Warned About Potentially Abusive Options Strategy."
Spooning: Morgan Stanley and Robinhood on Retail Options
Turns out, UBS Securities may have some stiff competition for who can exit the wholesale market making business faster. Alphacution updates some modeling on Morgan Stanley & Co - and its strange bedfellow, Robinhood - on the eve of Q3 2022 PFOF reports...
Parallax Volatility Advisors’ Book: Hiding in Plain Sight
Off the back of some recent modeling upgrades, Alphacution is finally able to share sample analysis of one of the largest customer accounts in the US equity option market: Parallax Volatility Advisors, LP...
Market Share Analysis: Option Market Makers
Based on new and updated modeling for a group of option market makers - including Group One Trading, Wolverine Trading, and Cutler Group - Alphacution shares new perspective on market share...
Chicago Trading Company Levels Up
Based on its collaboration with Pyth Network and a recent big hire from Millennium, Alphacution puts its spotlight on derivatives powerhouse, Chicago Trading Company (CTC)...
Alphacution Publishes “Simplex Trading, Unadjusted”
In this 67-page, 64-exhibit chart book, “Simplex Trading, Unadjusted,” Alphacution borrows the spotlight from the record-setting volumes in the US options market for 2021 and focuses it in on one of the key – yet, relatively little known – players in the space: option market maker, Simplex Trading, LLC. Taking some of its recent modeling upgrades for an initial spin, Alphacution performs its unique brand of visual display on public regulatory data to present what is likely to be an unprecedented review of such a secretive player operating in such a complex arena like Simplex.
