wholesale market makers

Virtu’s Q3 Net Trading Income Was Predictable Before Earnings Release

Alphacution presents an excerpt from its analysis of the relationship between Rule 605 data and net trading income from retail order flow - along with a selection of updated charts for Virtu Financial for Q3 2023... The full Feed post is available to Silver and Premium subscribers...

By |2023-11-12T23:18:13-05:00November 10th, 2023|For Subscribers|

Virtu’s Q3 Net Trading Income Was Predictable Before Earnings Release

For wholesale market makers in US equities there appears to be a relationship between Rule 605 data and net trading income from retail order flow. For Virtu Financial, a public company and the closest example to a "pure play" in US equity wholesaling, this relationship could have been estimated before the Q3 2023 earnings release date. In this Feed post, Alphacution shares its analysis for this finding - and why it's not the most important component of this discovery...

By |2023-11-12T23:23:49-05:00November 10th, 2023|Silver / Premium|

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...

By |2022-12-14T23:26:37-05:00December 14th, 2022|For Subscribers|