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

“The most likely hangup with the SEC was their order router,” said Tyler Gellasch, a former SEC staffer. “Now that IEX has offered to revise its order router, which would arguably have given IEX a competitive advantage over other market centers, we suspect the odds of approval by the SEC to be very high,” said […]

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The additional information available for public view will spur some traders to be more selective in choosing which ATS to use, said Tyler Gellasch, executive director, Healthy Markets Association, Washington, a non-profit group of money managers focusing on issues such as transparency and best execution at ATS and dark pools. “Enhanced disclosures will indirectly mean […]

Exchanges’ roles in our market structure have devolved so much so in recent years that when the SEC put together its Equity Market Structure Advisory Committee last year, it didn’t even bother to include the NYSE and Nasdaq. In an effort to restore their market share and role in the markets, exchanges have been looking […]

“Clearly, there’s a lot that needs to be done that has not been done,” says Chris Nagy, a consultant at Kor Group in Omaha, Neb., who works with the nonprofit Healthy Markets Association. https://www.chicagobusiness.com/article/20151205/ISSUE01/312059991/citadel-wants-to-shape-the-rules-of-the-game

Tyler Gellasch, executive director of the Healthy Markets Association, an investor-focused trade group, said updating regulation covering alternative trading sites is a sorely needed step. “Antiquated rules and variations in operations and disclosures by trading venues have made it nearly impossible for investors and brokers to understand how their orders are handled and how their trades […]

“For the operators this is an opportunity to finally come clean about what’s going on in the pools,” said Dave Lauer, chairman of Healthy Markets Association, an advocacy group whose members include Janus Capital Group Inc. and Boston Company Asset Management LLC. “Some have been very transparent, and some haven’t been at all.” … It […]

“I would expect both nominations to be very favorably viewed by both the Banking Committee and the Senate overall,” said Tyler Gellasch, a former Democratic Senate aide who leads Healthy Markets, a non-profit group that advocates for equity market structure changes. https://bol.bna.com/obama-picks-ex-senate-aide-professor-to-be-sec-commissioners/

But a group of five investment firms today criticized the SEC for the composition of the committee and for allegedly dictating its work. “The SEC has failed to populate the Committee in a manner that would provide the most constructive assistance to it,” said the group’s executive director Tyler Gellasch, a former SEC staffer, in […]