XTX Markets: A New(ish) Player Enters the Fray
"Laughter, tears, and dance moves are all things that should not be kept on the inside." - Denis Morton, Peloton Instructor It is as of the writing of this very short post - mid-afternoon on a lazy Friday - that we've just found that XTX Markets' very first US filing to the SEC database is not yet 24 hours old. We have been scratching our heads about this one for a little while now, wondering if and when we would ever receive any real evidence about this newish entrant to the market making landscape. After all, it does seem to us that a) we don't see many new players surviving in this neck of the jungle - Alphacution's structural alpha zone, and 2) ~100 employees and counting tends to suggest that there is something mildly sustainable going on here. Well, as of 16:17 (eastern time) on February 28, 2019, that evidence finally arrived; the equivalent of a DNA sample - the first X17A5 filing for this unique broker dealer - [...]