Stephen Ehrlich
Verified account This account is verified. Learn more@Ehrls15
All comments are my own.
984 Following 20K Followers 4.2K Posts
Latest posts 5
Most people do not know that in the late 90s we had a trend out amount of fragmentation and dislocation in the tracing markets with 50+ ECNs, ATSs and Exchanges. Thai was pre Reg NMS. This gives opportunity for traders to make money in the markets and tighten the spread. It also makes advanced routers such as @HoudiniSwap from @solstrategies even more important.
Still digesting this proposal but some early feedback (thread):View quoted post on X
Overall, this will exacerbate market fragmentation and worsen price discovery. More venues - that don't talk to one another - increases the chances for price dislocations.
@NissanStadium hey stop playing rock music at a CFB game and let the bands play.
Next in the series on how markets have changed and how crypto markets are advancing.
Every Market Starts Broken medium.com/p/every-market…
Every Market Starts Broken medium.com/p/every-market…
Every market starts broken. I've watched it happen twice. Once in equities in the 1990s. Again in crypto starting in 2017. This is the first post in a series on what 30 years of market infrastructure taught me, and where it's headed next.
medium.com/p/the-phone-ca…
medium.com/p/the-phone-ca…