The Healthy Markets Association, an industry organization focused on market transparency and integrity, has released an order-routing due-diligence checklist. The 200-item questionnaire, which is available to members and non-members, spans issues that include general firm information, technology, order-routing strategies, venue monitoring, conflict and leakage, third-party relationships, as well as treatment of non-directed orders. Continue reading […]

“IEX has the potential to greatly improve equity trading, but the proof will be in the prints,” says Tyler Gellasch, executive director of Healthy Markets, a non-profit group focused on market structure reform. “If IEX protects investors and reduces investors’ trading costs, then investors and brokers may flock to it, and other venues may recognise […]

IEX’s solution, Macey said, is to put a kind of speed bump along the motorcyclists’ or the high-speed traders’ paths so they can’t make such a maneuver. “So they’re not going to be at a distinct advantage they might be on many of the other current exchanges and other venues,” said Tyler Gellasch, executive director […]

“The SEC has increasingly allowed for-profit exchanges to engage in activities to benefit their bottom lines,” said Tyler Gellasch, a former Democratic SEC staffer who is now head of a trade group for asset managers. “The IEX application is forcing the SEC to look at what it allows exchanges to do, and justify why all […]

“Any time an exchange wants to do something significantly different, it’s likely to come under a lot of scrutiny and take a long time,” said Tyler Gellasch, executive director of investor trade group Healthy Markets. Continue reading on Bloomberg

“The blueprint adopted today will provide just a fraction of the information regulators need and investors deserve,” said Tyler Gellasch, a former aide to Ms. Stein who now runs the Healthy Markets Association, a group that advocates for the SEC to rely on better data to police trading. Continue reading via Wall Street Journal here

“We hope the SEC realizes that it doesn’t have to go down this road to approve IEX,” said Tyler Gellasch, the executive director of Healthy Markets and a former SEC official. “I think most folks in the markets immediately recognized that the SEC’s proposal to approve all speed bumps under one millisecond would make the […]

“While the SEC’s interpretation seems to open the door for IEX, it may also open the door for enormous unintended consequences,” says Tyler Gellasch, executive director of Healthy Markets, a non-profit group focused on market structure reform. “Rather than just deciding one thing, they would be deciding a lot of very complicated issues. The minute […]

Users of the US equity options market fear they face higher costs as the latest industry consolidation involving Nasdaq is not seen alleviating a fragmented landscape of trading venues. Continue reading via Financial Times here

Institutional Investors have flocked to private trading venues to protect sensitive information, but new legal actions highlight the need for more regulation. Continue reading via Institutional Investor here