“Study the science of art. Study the art of science. Develop your senses — especially learn how to see. Realize that everything connects to everything else.” Leonardo Da Vinci

2018 was a truly fascinating one here at Alphacution, thanks to you…

A little over three years into this project – and a ton of diverse, experimental research on the impacts of technology within the global financial services ecosystem – and, in many ways, we have only just begun to hit our stride. This is mainly because of something you and me now have in common: It seems that I have finally figured out how to strike the chords that you want to hear…

In 2018, our newsletter grew to be distributed to nearly 20,000 capital markets executives; mainly including those stakeholders related to the most advanced trading strategies and trading operations in the world.

For each of the last 15 newsletters, average distribution was ~16,400 and average opens were ~5,500 (or, over 33%). This audience includes most of the founders, CEOs, senior executives and key stakeholders of the leading proprietary, quantitative, market making and hedge fund trading operations in the world – along with a full complement of senior executives from the related sell-side, capital markets, brokerage, high-performance technology, software, market data and regulatory communities.

This is an extremely rare and concentrated audience packed with many of the brightest minds to have come along in the history of the modern capital markets industry. To have earned some sustained attention from this group is not only incredibly humbling, it is certainly our most significant achievement to date.

Thank you…

Here’s to peace and abundance for you and yours in 2019.

What follows are the Top 10 posts for 2018 (as ranked by page views). As you review, consider what is intended to be whispering to you in between the lines: We are just getting started…

#1 – Virtu Financial: More Acquisitions on the Way, If… (March 27, 2018)

#2 – Goldman Sachs’ Book: Hiding in Plain Sight (November 28, 2018)

#3 – Virtu Financial: Yes, There Are More Acquisitions on the Way! (October 31, 2018)

#4 – Sorry, Virtu. You Still Need A Lift (November 29, 2018)

#5 – Citadel Securities’ Book: Hiding in Plain Sight (Teaser) (December 20, 2018)

#6 – When Market Makers Ate Their Own (July 18, 2018)

#7 – What Does Citadel* Spend on Technology? (April 18, 2018)

#8 – Adventures in Speed: Virtu Financial, Flow Traders (October 23, 2018)

#9 – Virtu, ITG: Much More Than Meets the Eye (November 15, 2018)

#10 – The Privatization of Alpha (October 17, 2018)


As always, if you value this work: Like it, share it, comment on it – or discuss amongst your colleagues –  and then send us feedback@alphacution.com.

As our “feedback loop” becomes more vibrant – given input from clients and other members of our network, especially around new questions to be answered – the value of this work will accelerate.

Don’t be shy…