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Feed2020-10-16T01:08:47-04:00
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Note to The Market Structure Club on Comparative Order Routing Rates

Following an impromptu gaggle of market structure nerds on the new social media app, Clubhouse, featuring Larry Tabb (Head of Market Structure Research, Bloomberg Intelligence) and Alex Gerko (CEO, XTX Markets), Alphacution offers a comparative ranking of 2020 retail order routing rates...

By |March 17th, 2021|For Subscribers|

Inspired by Renaissance Technologies: In Pursuit of the Omnitrade (and an Upgraded Map)

Inspired by Renaissance Technologies - as described in Greg Zuckerman's book, "The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution - Alphacution leverages the concept of "factor dimensionality" to make a significant enhancement to its ecosystem map framework.

By |March 4th, 2021|For Subscribers|

Summary of Robinhood’s Legal Woes

Today - February 26, 2021 - at 12:13pm ET - in what appears to be a well-managed front run of press collaboration, the Wall Street Journal published "Robinhood in Talks to Settle Finra Probes Into Options-Trading Practices, Outages" based on a filing that says the company is also being examined by the SEC, states. Here are the key parts of that filing - and then some...

By |February 26th, 2021|Open|

Now You See Me: What The Bloomberg Opinion Guy Misses About Market Structure Mechanics

Leveraging numbers and narrative, Alphacution builds a higher-dimension analysis of market structure mechanics on top of Bloomberg Opinion's Matt Levine's recent manifesto on payment for order flow (PFOF). Disclaimer: No unsolicited elbows were thrown during the creation of this Feed post...

By |February 22nd, 2021|For Subscribers|

More Than $2.7 Billion in Payments for Order Flow 2020: Here Are The Breakdowns… (Updated)

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”Ayn Rand UPDATE (2/17/2021): The following exhibits and content have been updated to reflect an additional $12 million in order routing revenue for Tastyworks earned in Q4 2020; the data for which not being available prior to the initial publication of this Feed post. This brings Alphacution's estimate for total payments for order flow in 2020 to $2.755 [...]

By |February 11th, 2021|For Subscribers|