blythe-masters-bitcoin-blockchain

Blockchain Babe Blythe Masters in Repo Deal with DTCC

Blythe Masters, the former grand dame of derivatives for investment bank JP Morgan, who after a less-than-glorious exit from her senior role overseeing credit derivatives for House of Morgan and who reinvented herself as a blockchain babe and leads digital ledger startup Digital Asset Holdings, has proven that every cute cat has nine lives. In […] Read More

30 March, 2016
bats-global-etf-

BATS Global is Batty About ETFs-Buys ETF.com

While many people are “koo-koo for Cocoa Puffs”, BATS Global is batty about ETFs. On the heels of launching a dedicated electronic exchange platform for ETF products dubbed BATS Marketplace,  BATS Global Markets announced yesterday that is even more batty about ETFs and to prove it, the exchange operator is acquiring the ETF industry’s leading […] Read More

30 March, 2016
best-execution

Best Execution Wack-A-Mole Aims at Wholesalers

When it comes to gauging best execution, that exercise is akin to a game of whack-a-mole when calculating in the role of wholesalers aka over-the-counter market-makers whose business model includes leveraging maker-taker rebate schemes. MarketsMuse credits below excerpted observations from TabbForum and courtesy of Stanislav Dolgopolov, Decimus Capital Markets, LLC (TabbForum) Compliance with the duty […] Read More

29 March, 2016
nasdaq-buys-ise

NASDAQ To Buy ISE Options Mart

(Bloomberg)-In what merger-arbitrage experts might call a ‘take-under’, Nasdaq Inc. is paying less than half the price for what ISE traded for in its last price setting after it agreed to buy Deutsche Boerse AG’s International Securities Exchange for $1.1 billion, catapulting it to the top of the U.S. options market.The transaction could also help […] Read More

10 March, 2016
fear-index-bats-global-SPYIX

I’m Afraid There Is a New Fear Index

Exchanges Battle Each Other to Create Competing Fear Index Products, out of fear of losing market share. Another index product to “measure” investors’ fear?? Are they bats?! As MarketsMuse Chief Curator says, “Yes, Matilda, I’m afraid to say there is yet another new fear index” intended to compete with the now famous VIX product. Dubbed […] Read More

8 March, 2016
blackrock-botch-gold-etf-iau

BlackRock Botches Gold ETF; IOU for IAU

Administrative oversight left BlackRock unable to meet demand for its Gold ETF, IAU; Suspends New Issuance. (WSJ) –BlackRock Inc. said it suspended the issuance of new shares in IAU, its roughly $7.7 billion gold exchange-traded product due to an administrative oversight, in the latest bruise for the exchange-traded-fund industry and its largest provider. Analysts said the move […] Read More

5 March, 2016
bny-mellon-mischler

World’s Biggest Bank Gets It; Gives It Back

BNY Mellon ‘Gets It’ and Also Gives It Back. With close-on $29Trillion in deposits and $1.3Trillion in AUM, BNY Mellon (NYSE:BK), the oldest bank in the U.S. is not just the country’s biggest, it ranks as one of the world’s biggest banks. Hundreds of financial industry professionals now working across the financial markets ecosystem are […] Read More

4 March, 2016
rebate-schemes-market-structure-marketsmuse

Pay-to-Play Rebate Schemes Confuse Smartest Traders

Within the context of market structure, the ever-evolving rules of the road for those attempting to navigate how and where to secure best pricing when executing equities orders has become so convoluted thanks to pay-to-play rebate schemes, its not only the curators at MarketsMuse who are scratching their heads, even the most sophisticated traders from […] Read More

2 March, 2016
fbi-apple-battle

FBI Breaking Its Brand Image In Effort to Break…

James Comey, the former general counsel of global hedge fund Bridgewater Associates and current director of the FBI is, according to thought-leaders across the technology industry, “doing more to break the brand image of the country’s top law enforcement agency than it is in doing its job properly” as it continues to battle Apple Inc […] Read More

2 March, 2016
non-transparent-etf-eaton-vance-etmf

Eaton Vance Launches Non-Transparent ETF aka “ETMF”

Eaton Vance Corp. today launched the first-ever non-transparent, actively-managed ETFs. Their new creation is called an exchange-traded managed fund (ETMF) and goes under the brand name NextShares. Quite a coup considering last week’s MarketsMuse story “SEC Chair White Says I’ve Got a Dream” [for the SEC to actually read offering prospectus of complex ETFs before […] Read More

26 February, 2016
shot-across-bow

Symphony Pact With FlexTrade-Shot Across Bloomberg Bow

Symphony, the Wall Street-backed secure messaging platform first designed to displace Bloomberg LP’s most ubiquitous feature and further reduce the Street’s dependency and technology costs synonymous with having a Bloomberg terminal, has struck another blow in the bow of Bloomberg’s boat thanks to the consortium-owned deal with electronic execution system provider FlexTrade. If not widely […] Read More

26 February, 2016
wsl-2016-best-broker-dealer

2016 Wall Street Letter Award For Best Broker-Dealer Goes…

If not as widely-covered as the GOP or DNC primaries, financial industry publication Wall Street Letter (“WSL”) held its 5th Annual Institutional Trading Awards ceremony last night at NYC venue 583 Park Avenue and recognized best-in-class broker-dealers across 7 major categories, including Best Broker Dealer (OverAll), Best Broker-Dealer Research, Best BD-Client Service and Best Broker-Dealer […] Read More

24 February, 2016
sec-chair-white-marketsmuse

SEC Chair White: “I Have A Dream..”

SEC Mary Joe White has a dream, and even if she aspires to leverage the inspirational outlook of  Dr. Martin Luther King, securities industry members are debating whether her dream could prove to be a reality any sooner than the civil rights agenda expressed by Dr. King so many years ago.  In a series of […] Read More

19 February, 2016
bond-etf-trading

Bank Trading Desks Merge Bonds and ETFs

Corporate Bonds and exchange-traded funds is a combination that first seemed counter-intuitive to the select universe of traders who are actually fluent in both corporate bond trading and equity trading; two practice areas that are distinctively different. “Stocks are bought and bonds are sold” as they used to say, and the nuances of trading these […] Read More

18 February, 2016
etf-sec-lending

Sec Lending Makes These ETFs Profitable

Its all about Securities Lending aka Sec Lending for certain ETFs to outperform and be profitable for investors looking for ways to offset the fund’s expense fees. MarketsMuse salutes Eric Balchunas at Bloomberg for his a.m. report: “Hedge Funds Will Pay for You to Own Small-Cap ETFs” (Bloomberg)- With many exchange-traded funds already dirt cheap, […] Read More

18 February, 2016
geared-etfs-sec-marketsmuse

SEC Aims To Ban Geared ETFs

The US SEC apparently has its cross-hairs on so-called ‘geared ETFs,’  those high-testosterone, levered instruments that incorporate derivatives so as to deliver an advertised 2x or 3x return for certain strategies versus a typical 1:1 correlation provided by plain vanilla exchange-traded funds.  The SEC proposal would effectively ban the use of those products altogether. As […] Read More

12 February, 2016
contango-uso-etf-oil

Only Idiots Use USO ETF to Trade Oil-It Can’t…

For those who are confused as to the near-term, or even longer-term price direction of Oil, even J.R. Ewing would tell you there isn’t an oil man in Texas, including Boone Pickens, who can see far beyond the prices posted at the pump. Especially when one gas station in Oklahoma is now selling one gallon […] Read More

11 February, 2016
junk-bond-etf-liquidity

Junk Bond ETFs-The Liquidity Debate Goes to SEC

MarketsMuse ETF and Fixed Income curators have frequently spotlighted the ongoing debates as to whether corporate bond ETFs, and in particular, junk bond-specific exchange-traded-funds pose special risks. Some argue that a liquidity crisis could unravel the high yield bond sector if/when institutional investors decide that risk of recession continues to ratchet higher, leading all of […] Read More

8 February, 2016