The Mighty SPY
As part of its current spotlight on the exchange-traded products (ETP) component of the global markets ecosystem, Alphacution digs into the versatility and liquidity of the SPDR S&P500 ETF Trust (SPY)...
Bird’s Eye View: The Exchange-Traded Products Market 2022
Once or twice a year, Alphacution likes to provide an update on the global exchange traded products (ETP) market given its relevance to the market ecosystem - and many of the players we tend to track so uniquely. Here it is - along with notable highlights...
The Transformation of GTS
Hockey stick! Prior to 2020, proprietary trading firm and market maker, GTS Securities, made a series of strategic acquisitions. Here's an overview of what's happened since...
Outlook 2023: That Giant Sucking Sound (Updated / Corrected)
There are two causes of the "giant sucking sound" that you hear - and need to pay attention to for the year ahead. The first is painfully obvious; the second should be (painfully obvious), but likely isn't. Alphacution makes its case...
Alphacution’s Best of 2022
Of the nearly 50 original research pieces published to the Feed in 2022, Alphacution shares your picks for Best of the Year...
Robinhood’s Dirty Little Secret
Alphacution makes its case for where new market structure rules should, at the very least, be successful - as well as a clue for how our research influenced (and altered) Robinhood's business model...
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...
Wanted: A White Knight In Cryptoland
The dramatic implosion of FTX and Sam Bankman-Fried's crypto empire is a huge and very fast moving story - with new revelations, about the details leading up to SBF's collapse and the contagion risks embedded in crypto markets as a result of that collapse, surfacing by the hour. Here, Alphacution assimilates a sample of the most thoughtful commentary on the current crypto saga as backdrop for its list of proprietary trading firms who represent possible "white knights"...
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...
