EPTA News
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FIA EPTA Responds to ESMA Consultation on Market Abuse Regulation
The FIA European Principal Traders Association responded on Oct. 15 to the European Securities and Markets Authority's consultation papers regarding the Market Abuse Regulation.
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In efficient markets, arbitrage opportunities are hard to come by — and that’s a good thing
Those who believe that HFT trading firms are making easy money through arbitrage strategies in the equity markets have missed a tremendous evolution in arbitrage over the last 10 years.
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Who are the participants in modern markets?
It has been noted many times over recent weeks and months (not to mention years) that the current market structures are complex and difficult to understand as an outsider.
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Crossing the jargon jungle
The financial services industry is well-known for its complex terminology, incomprehensible to anyone outside the sector – perhaps even to some active in it.
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Dark pools
I was recently interviewed on CNBC about high frequency trading and dark pools in Europe. Steve Sedgwick raised some interesting questions during the interview, which I wanted to address further here.
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FIA EPTA Responds to MiFID II Consultation
The FIA European Principal Traders Association, together with its affiliates FIA and FIA Europe, jointly responded on August 1 to the European Securities and Markets Authority's consultation process for the implementation of the recast Markets in Financial Instruments Directive and the new Markets in Financial Instruments Regulation.
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Squeezing the middlemen
The need for middlemen in modern market structure has been much discussed since the publication of ‘Flash Boys’. The idea prevailing is that in today’s technological age middlemen are no longer needed to help market participants find each other, and are simply making easy profit at the expense of the little guy.
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Flash boys: a view from the inside
It has certainly been an interesting few weeks for traders around the world: since Michael Lewis’ book “Flash Boys” was published, the financial markets, and high frequency trading in particular, have hardly left the headlines.
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The beauty of co-location
At FIA EPTA, we think objections to co-location most often stem from not understanding what it is and how it benefits the market, or from the mistaken belief that co-location is some kind of ‘special club’ that only certain people get invited to join.
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Michael Lewis' HFT Book: More of a Dark Market Than a Lit One
Craig Pirrong, the author of the Streetwise Professor blog, comments that “Flash Boys” is essentially a morality tale that does not capture the “true complexity” of markets or high-frequency trading.
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