Rosenblatt's Market Structure team sitting together hosting a panel
rosenblatt | market Structure

Market Structure

Rosenblatt helped pioneer the field of market-structure analysis more than 20 years ago. We give clients the intelligence they need to navigate and thrive in ever-more complex, fragmented and automated markets, without conflicts that plague other brokers. This includes written reports, consulting engagements and special events, including our must-attend annual conferences in New York and London.

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“fiercely independent analysis from the industry’s best team”

our expertise

A circular labyrinth


Trading markets have transformed dramatically in recent years. Once simple, slow and manual, they're now highly complex, fast and largely automated. No one knows more about how the landscape has changed — and what it means for traders — than our team of seasoned experts.


Today's complex market structure is also constantly changing. We stay on top of it all so you don’t miss anything.

a collection of market structure reports including trading talk and let there be light

our services

Research reports

Eight monthly reports covering trading volumes, venue market shares, dark-pool activity, block trading and key market structure developments in North America and Europe.


Annual conferences in New York and London that bring together industry leaders and policymakers to discuss issues shaping the trading landscape.


We've consulted for a diverse array of clients, including exchanges, banks, asset managers, proprietary trading firms, regulators and industry associations.

SORT (Streamlined Order Routing Transparency)

A proprietary analytic that filters, analyzes & visualizes the most important broker- and venue-level data now available with SEC Rule 606.

special reports

Venue Guide

Annual Equity Trading Venue Guides, providing everything traders need to know about all major order-flow destinations in the US, Canada and Europe.

order types

Comprehensive reference guides on exchange order types and conditional orders.

Special Topics

Timely reports on various market-structure topics, such as deep dives on off-exchange and retail trading trends.


A view of the attendees of Rosenblatt's Global Exchange Leader Conference

Global exchange leader conference

The Global Exchange Leader Conference gathers an exclusive group of senior executives from exchange groups, asset managers, proprietary-trading firms, broker-dealers and regulatory bodies for a day of spirited debate and lively discussion of the industry’s most-important topics. With no press present and attendance carefully curated, the event fosters frank conversation in sessions and unparalleled networking during breaks, meals and cocktails. The quality of the audience is just as impressive as the speaking faculty. And we fit it all into one day to minimize your time away from the office.

More About GELC

european market structure conference

Our European Market Structure Conference brings together senior figures from the European trading and markets communities for an afternoon of discussion and debate on the critical issues shaping the industry. The event offers attendees an opportunity to network with senior executives and market-structure specialists. Previous speakers have included CEOs from the London Stock Exchange, Euronext, Cboe Europe, Flow Traders, SIX Swiss Exchange, as well as senior buy-side traders and representatives from the European Commission, European Securities and Markets Authority, Financial Conduct Authority, Autorité des marchés financiers and the Dutch Authority for Financial Markets.

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The attendees of Rosenblatt's European Market Structure Conference


Financial News trading and tech awards ceremony collage

Rosenblatt Securities Named Best Firm For Market Structure And Execution Consulting

Rosenblatt has been named “Best Firm for Market Structure and Execution Consulting” in Financial News’ 19th Annual Trading and Tech Awards. We’re particularly honored that industry voters chose us over so many of the industry’s biggest, most-esteemed firms as the first non-bank to win the award. Last year we were a “close second” to JP Morgan.

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European Markets Choice Awards 2022 – The Winners

On 5 June Markets Media held its first in person European Markets Choice Awards event in London to celebrate the accomplishment of everyone who works in this industry. Choosing the winners is always difficult but below is the list of our winners.

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European Markets Choice Awards Winner
Market Structure Choice Award 2023 Winner Best in Market Structure

Rosenblatt Named "Best In Market Structure"

Markets Media Group’s 11th-annual U.S. Markets Choice Awards event was held Wednesday, May 3, at Tavern on the Green in New York City and Rosenblatt chosen as "Best in Market Structure".

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rosenblatt's market structure team

Justin Schack headshot

Justin Schack

head of market structure
  • 12 years covering market-structure transformation at Institutional Investor before joining Rosenblatt in 2008

  • Frequent conference speaker, widely quoted expert

Alex Kemmsies

  • Joined Rosenblatt’s market structure team in 2009; special focus on monthly reports and data analysis

Alex Kemmsies headshot
Valerie Bogard Headshot

Valerie Bogard

  • Joined Rosenblatt in 2018 after 5 years covering market structure & financial technology at TABB Group

Will Hadfield

Analyst (Europe)
  • Joined Rosenblatt in 2022 after 12 years covering market structure and trading for Bloomberg News and Risk

Will Hadfield headshot