Price Discovery Thought Piece

Here’s the riddle of institutional equities trading: experience and reason suggest block trades
have enormous potential to reduce transaction costs. However, block trades don’t happen in
the dark. And only a fool would display a large orde...

Dear AQUA friends and prospects:

Greetings from the Aquarium!

This week’s flash boys controversy cries out for informed discussion. Here are my quickthoughts:

1) If we were a sports league the commissioner would fine an owner who told a nationaltelevision audience that...

Dear Aqua friends and prospects:

Greetings from the Aquarium!

If there’s one lesson for the buyside to draw from the current HFT debate undoubtedly it is this:
support the market structure you want. Don’t just ask about trade volumes. If you make trade
volume the first...

Price Discovery Thought Piece

Here’s the riddle of institutional equities trading: experience and reason suggest block trades
have enormous potential to reduce transaction costs. However, block trades don’t happen in
the dark. And only a fool would display a large orde...

Dear AQUA friends and prospects:

Greetings from the Aquarium!

This week’s flash boys controversy cries out for informed discussion. Here are my quickthoughts:

1) If we were a sports league the commissioner would fine an owner who told a nationaltelevision audience that...

Dear Aqua friends and prospects:

Greetings from the Aquarium!

If there’s one lesson for the buyside to draw from the current HFT debate undoubtedly it is this:
support the market structure you want. Don’t just ask about trade volumes. If you make trade
volume the first...