Alphacution Press: Bloomberg on Jane Street, DRW Revenue
Tom Maloney, editor at Bloomberg, published "Jane Street, DRW Traders Made Billions as Virus Hit Market" on June 18, 2021 with a little seasoning from Alphacution.
Alphacution Press: Traders Magazine on Messy Regulatory Data
Anna Lyudvig, financial journalist for Traders Magazine, publishes a story on Alphacution itself based on virtual discussion at DTCC event: "Alphacution Finds Some Regulatory Data to Be Messy" (June 17, 2021).
Information Waves and Timing: A Master Class By Jim Simons
Using our ecosystem framework as a guide, this is Alphacution's mechanical interpretation of how Jim Simons and the RenTec team gains a persistent edge on the competition; a master class of sorts that may be useful to your trading strategy development, as well...
Playback Thursday: Alphacution Participates in DTCC Active Management Event
For those interested in a discussion about the "Robinhood Effect," the "retail flow factor," and other timely topics related to a deranged and deranging stock market, a playback of the June 10th DTCC event, "Active Management and the Critical Role of Data," can be accessed herein...
Optiver vs. IMC: Battle of Amsterdam’s Option Powerhouses
The missing data finally showed up, and that led us to this comparison of Optiver US and IMC Financial Markets through year-end 2020...
Alphacution Press: Money Magazine on Upcoming Robinhood IPO
Mallika Mitra is a reporter at Money, covering investing trends, retirement, and debt. Her recent article, "Robinhood IPO: What to Know Before Investing," was published on June 2, 2021 based, in part, on Alphacution's ongoing analysis of Robinhood, its business model, and its impacts on the broader capital markets ecosystem.
The Retail Flow Factor: Hiding in Plain Sight
In this introduction to the 17-page, 21-exhibit presentation – Part III of Alphacution’s case study on payment for order flow (PFOF) – we present our preliminary development of the “retail flow factor” for 2020 based largely on a reconciliation of 606 data (from 10 retail brokers / 11 entities) and 605 data (from 7 wholesale market makers). The results include estimated monthly penetration of retail order flow relative to the full U.S. cash equities market for 2020 – including estimated breakdowns of odd lots and round lots – as well as some hints on where we will need to look next to further refine this factor in preparation for extending this analysis throughout 2021 and beyond…
Fix the Spread! A Comparison of Price Improvement by Wholesale Market Makers
Alphacution expands upon an outstanding analysis by BestEx Research on PFOF with additional context on price improvement by leading wholesale market makers.
A Regulatory Outlook for Off-Exchange Market Makers in the Aftermath of the GameStop Hearings
Alphacution contributor, Stanislav Dolgopolov, provides a detailed review of potential regulatory issues - including payment for order flow (PFOF), the multiplicity of roles of off-exchange market makers, and their informational advantages, among others - that may receive new scrutiny in the aftermath of the GameStop congressional hearings.
WorldQuant Gets Unruly About Memes
Inspired by reading Igor Tulchinsky's books - albeit a couple years late - Alphacution digs into some modeling to uncover a real world application of The UnRules...
