In The News

SEC Commissioner Peirce Wants to Move Ahead on Advice Reform Quickly

By Healthy Markets / February 12, 2019

InvestmentNews February 12, 2019 — Securities and Exchange Commission member Hester Peirce said Tuesday she wants the agency to complete investment advice reform soon, an indication that a rule could be coming by summer. As he pushes to finish the rule, Mr. Clayton is going to face “political risks and legal risks,” said Tyler Gellasch, executive […]

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How Does Robinhood Make Money?

By Healthy Markets / February 10, 2019

TheStreet February 10, 2019 — Robinhood is an online investment and trading app launched in 2013 that boasts a commission-free model and keeps costs low for investors to trade stocks, ETFs, options and even cryptocurrency without paying commissions. “Robinhood’s revenue model could easily disappear,” Tyler Gellasch, executive director of Healthy Markets (an investor advocacy group), told Bloomberg […]

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CAT Faces More Delays

By Healthy Markets / February 4, 2019

MarketsMedia February 4, 2019 — On January 29, the SEC appointed Manisha Kimmel as senior policy advisor for regulatory reporting, or more informally the “CAT Tsar,” and who reports to SEC Chairman Jay Clayton. “SEC Commission Kara Stein pushed for a CAT Tsar who would report directly to the SEC chair to make sure that it […]

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Get Ready for More Exchanges

By Healthy Markets / January 29, 2019

Traders Magazine January 29, 2019 — This item was originally printed in Healthy Markets Association’s Market Structure Insights, January 2019 edition. This year, we at Healthy Markets expect several new securities exchanges to be approved by the SEC. The leading stock exchange contenders are the LTSE and MEMX. Both pose very interesting questions for the markets and […]

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Wall Street Braces for MiFID-Style Rules Descending on the U.S.

By Healthy Markets / January 23, 2019

Bloomberg January 23, 2019 — Tyler Gellasch, who runs a trade group whose members include the California Public Employees’ Retirement System, predicts it’s only a matter of time that the U.S. goes the way of Europe because that’s what pension funds want. “The cat is out of the bag,” said Gellasch, the executive director of […]

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New Stock Exchange Better for Wall Street Than for Small Investors

By Healthy Markets / January 11, 2019

Barron’s January 11, 2019 — Healthy Markets Executive Director Tyler Gellasch was quoted saying that MEMX would “learn a lot more details about how much money the exchanges are making and where” – “They could make use of that information to hammer the exchanges on fees.” (Full Story)

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Healthy Markets Advocates for Changes to SEC’s Order Handling Rule Reforms

By Healthy Markets / December 17, 2018

Traders Magazine December 17, 2018 — Healthy Markets shared with Traders Magazine a comment letter on recent Order Handling Rule reforms. “The consultancy believes the current reform package could have negative effects on smaller firms and brokers and proposes changes of its own.” Full Story.

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Ending Electronic Gluttony: Exchange management Firms And Electronic Trading

By Healthy Markets / December 13, 2018

Seeking Alpha December 13, 2018 — Many industry participants accuse the exchange management firms of a conflict of interest, due to their for-profit status. There are two ways to end the serial abuse of stock market participants by the three remaining exchange management firms dominating equities trading: Intercontinental Exchange Inc., Nasdaq Inc., and Chicago Board […]

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Buy-side Dips Toes in Alt Data

By Healthy Markets / December 13, 2018

Traders Magazine December 13, 2018 — For firms that are expanding their alt-data usage, it’s worth noting that the U.S. Securities and Exchange Commission is looking more closely at vendor management and oversight, which would extend to how data is procured. That’s according to Tyler Gellasch, Executive Director of the Healthy Markets Association. “If certain […]

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Uncertain fate shadowing long-term exchange

By Healthy Markets / December 10, 2018

Pensions & Investments December 10, 2018 — Pension funds and other institutional investors welcomed the original concept of a long-term, investor-focused stock exchange, but LTSE’s current application offers few details, said Tyler Gellasch, executive director of Healthy Markets, an investor-focused non-profit organization in Washington whose members include many pension funds. “LTSE was initially billed as improving […]

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