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Market Structure News Digest

June 30, 2021
  • In a series of recent public statements, SEC Chair Gary Gensler raises the possibility of big equity-market-structure reforms…
  • …As he continues to make his way toward appointing a Trading & Markets Division chief...
  • …And signs grow of policy divisions on the five-member Commission
  • Regulators and market participants debate — at times hotly — whether rising off-board market share is harming market quality and price discovery
  • FINRA throws down the gauntlet on payment for order flow…
  • ...As the European Commission also raises scrutiny of PFOF arrangements
  • Will “meme” stocks invade major indexes, making them a bigger issue for institutional investors?
  • IEX argues that rising exchange costs are shrinking the brokerage industry, to the detriment of equity capital markets
  • Cboe brings BIDS’ block-trading services to Canada
  • The Long-Term Stock Exchange proposes a way for off-exchange traders to display fair-access quotations
  • As alternative data becomes more prevalent in finance, firms find it harder to gain an edge
  • A flurry of cryptocurrency and blockchain announcements raises hope for the sector’s future


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