“Removing order-protection rules without implementing other protections for investors would increase conflicts of interest and risks for investors,” Tyler Gellasch, executive director at Healthy Markets Association, an investor trade group, wrote in an e-mail. “Relying exclusively on the invisible hand of arbitrage without regulatory mandates or safety nets sounds great, but the reality would be far […]
Read MoreNEW YORK – July 15, 2015 – Healthy Markets Association today announced that Tyler “Ty” Gellasch, has joined as its Executive Director. Ty, will be responsible for overseeing the Association’s daily operations, membership services, and strategy based out of New York. Prior to joining Healthy Markets, Ty spent over six years in senior positions in the […]
Read More“Our goal is to arm institutional investors with unique data and analysis, as well as a public voice, in the hyper-technical world of market microstructure,” Gellasch, 37, said in an e-mail. http://www.bloomberg.com/news/articles/2015-07-16/healthy-markets-hires-ex-sec-lawyer-amid-push-to-reform-trading
Read MoreThe striking gap in odd-lot price improvement proves the value of disclosure, says Chris Nagy, who launched the trading-quality consultancy KOR Group, after running TD Ameritrade’s order-routing unit. “Next quarter, those numbers are going to be much, much better” as brokers respond, Nagy predicts. “Transparency can make a world of difference in trading behavior and […]
Read More“Far too many investors are already concerned that our critical trading technology infrastructure is held together by dangling wires and duct tape,” Dave Lauer, co-founder and chief technology officer of Kor Group LLC, wrote in an e-mail Wednesday. “Today definitely doesn’t help dispel that fear.” http://www.bloomberg.com/news/articles/2015-07-08/nyse-halt-shows-complexity-s-curse-and-its-potential-blessings
Read MoreHealthy Markets’ Chairman, Dave Lauer, was invited to speak at the very first meeting of the SEC’s Equity Market Structure Advisory Committee. In his remarks, Lauer offered detailed analysis of several issues confronting investors and regulators. Source: https://www.sec.gov/comments/265-29/26529-15.pdf
Read More“Nagy, who with KOR partner Dave Lauer founded the nonprofit market structure reform group Healthy Markets, said in January that all four of the SEC’s commissioners had told him they supported 605/606 reforms” http://www.law360.com/articles/654239/sec-commissioner-urges-action-on-maker-taker-disclosure
Read More“Lauer (who has founded Healthy Markets, a nonprofit advocacy group for market structure reform) and others have described what is needed: take the data from the equities, futures, and options market, including dark pools and hidden orders, then have everyone synchronize their clocks to the microsecond, so everyone is on the same time.” http://www.cnbc.com/id/102607337
Read More“It’s about modernizing metrics and rules on how you measure market quality,” said David Lauer “If we all get together, we can push for reasonable reforms,” said Lauer. “We want to influence that discussion.” … The new website was created to bring “public and key financial services firms together to agree on a core set of […]
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