There's no downshift: Trading in the US equities markets has stayed intense throughout the summer. And, there have been some interesting developments.
One example– the Amazon and Google stock splits. Our Head of Research, Patrick Dote, took a look at the implications for trading volume, size, and costs.
Pat’s one of several leaders who have spent the summer mentoring the top-flight young minds who joined us as summer interns. Talent management, especially of the next generation in the industry, is crucial. I hope you’ll enjoy reading about their observations and high-performance assignments.
And if you’re making plans to be at the Canadian Security Traders Association meeting, Trading Evolved’s Canada event, or the upcoming annual meetings of SIFMA or STA, I look forward to seeing you there.
During the past month, there have been several significant policy and regulatory developments impacting trading and market structure in the equities markets. These include:
• US Court of Appeals Issues Decision on SEC Market Data Governance Order
• SEC Re-Proposes Amendments to Exemption from National Securities Association Membership
• US Court of Appeals Issues Decision on Challenge to IEX D-Limit Approval
• SEC Signals Soft Dollar Guidance
• Jaime Lizárraga Sworn in as SEC Commissioner
Geeks have inherited the execution platform–and this summer we expanded the circle by admitting the next generation into our internship program.
Our internships are hands-on, no-bs work. This summer we’re mentoring seven students from CS and financial services undergrad and grad programs. They work, they learn, and–most importantly–they’re in the kitchen watching how the product comes to be.
Michael Sotiropolous, our Managing Director for Quantitative Execution who also teaches computational finance at Princeton and NYU-Tandon, organized special whiteboard sessions for this summer’s interns, teaching them on topics ranging from reinforcement learning to real-time measurement of transaction cost analysis.
Michael views the work as not just part of the job, but a “privilege.” Our interns are pretty into it, too. Here’s what they had to say.