spreads

Deep Dive: European ETP Spread Analysis For Systematic Internalisers

Deep Dive: European ETP Spread Analysis For Systematic Internalisers

In this 34-page, 36-exhibit, 6,400-word Focus Note, "European ETP Spread Analysis For Systematic Internalisers," Alphacution publishes its findings from the core research objectives of this project: 1) credibly quantify the theoretical "gross" spread value for ETPs traded on LSEG, 2) credibly quantify the portion of this value for SIs, and 3) illuminate or elevate any other clues about the trading preferences of SIs.

By Paul Rowady|2023-02-07T01:49:26-05:00February 5th, 2023|Open|

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.

By Paul Rowady|2021-05-27T14:30:58-04:00May 26th, 2021|For Subscribers|

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...