Simplex Trading Disappears From Option Wholesaling
With the latest data in hand, Alphacution updates its analysis of troubled option wholesaler, Simplex Trading...
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...
SEC Proposing Auctions?! Let’s Understand Liquidity Economics First
Though the financial press highlighted a proposal to consider auctions in US equities for retail order flow, the SEC actually proposed 6 areas of interest for market structure rule changes. Alphacution presents its case for what's truly at issue here...
Robinhood: Democratizes Losses, Fades Back to Obscurity
Was Robinhood a flash in the pan? Alphacution makes its case...
There’s Something About Akuna
Alphacution's reconstruction of the available to data to detail option market player composition serves as catalyst for its first deep dive into Akuna Capital. Turns out, there's something different going on there...
Forget ESG: SEC Still Fumbles The Basics…
New disclosure tools from the SEC - like an ESG reporting framework - are useful, but enhancing and enforcing existing disclosure tools are useful, too. Alphacution makes its case based on its roster of option market makers...
Jump Trading to Regulators: Lit Markets Are Too Toxic For Us (UPDATED)
Alphacution provides an analysis of Jump Trading's recent announcement - via WSJ - that it intends to enter the equity wholesaling arena...
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...
Price Improvement: A Sacrificial Cost of the Trade
Alphacution provides numbers, pictures and rationale for "price improvement" - in the context of captive retail order flow - having an indelible function that is different than what you have been told by those who traffic in it...
