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Market Structure News Digest

July 29, 2021
  • Why a recent paper estimating that 10% of US equity volume comes from retail traders likely undershoots by a big margin
  • Cboe’s plans to disrupt European listed-derivatives trading with a new, Amsterdam-based exchange
  • A House bill to ban payment for order flow gets weakened to merely requiring an SEC study
  • ESG disclosures continue to drive a wedge between SEC commissioners
  • Will antitrust policy, once a last-ditch attempt to target big exchanges in the Trump administration, be used for different purposes by today’s SEC?
  • Chances rise of significant post-Brexit regulatory divergence between the UK and EU
  • Flexible working policies and the sophistication of firms’ technology become another battlefield in the Fintech vs. Wall Street war for talent
  • Regulatory uncertainty continues to challenge the development of cryptocurrency markets


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