wholesalers

Retail Equity Flow Acquisition Costs: Heart of the ‘Price Improvement’ Mechanism – Part IV (Conclusion)

Retail Equity Flow Acquisition Costs: Heart of the ‘Price Improvement’ Mechanism – Part IV (Conclusion)

In the conclusion to Parts I, II, and III of this series, Alphacution assembles its findings in terms of total retail equity order flow 'acquisition costs'; some insights into the wholesaler strategy behind why they pay these costs; and a simplified recommendation to the SEC...

By Paul Rowady|2023-04-13T00:03:48-04:00April 12th, 2023|For Subscribers|

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.