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Rosenblatt's Market Structure News Digest

September 30, 2021
  • MEMX and IEX target retail order flow
  • LSE shuts down interest-rate futures challenger CurveGlobal
  • SEC Chair Gensler appears to articulate equity-market-structure concerns in more detail, and says the agency’s long-awaited GameStop report “will be out shortly”…
  • …As defenders of the status quo hit the hustings, with one even saying the conflict of interest embedded in payment for order flow “does not exist”...
  • …and Gensler brings CFTC Commissioner Dan Berkovitz, formerly his general counsel at the CFTC, to the SEC in the same role, which helps defend the agency against litigation
  • Pan-European regulatory body ESMA finally names a new Chair after months of haggling
  • Asset managers and trading firms increasingly turn to cloud services and other technology to automate menial work and gain a big-data edge
  • Continued regulatory uncertainty doesn’t appear to be stopping banks and hedge funds from plunging into cryptocurrency markets

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