Data Boiler News Today

The UK and the EU are charging forward in planning a single Consolidated Tape (CT) for each asset class in their respective region.

Conscientious faithful words grate upon the ear. In an effort not to be lost in the ocean of comment letters to the SEC, we at Data Boiler want our views to be heard. In this article we use analogies to promote communication and understanding of the complex subject of market structure reform. Please do not block us from shedding light on taboo topics. Constructive debate helps avoid the phenomena of “blind people and an elephant”.

By Kelvin To, Founder and President of Data Boiler Technologies.

By Kelvin To, Founder and President of Data Boiler Technologies.

By Kelvin To, Founder and President, Data Boiler Technologies

<p><span>In the EU, Capital Markets Union (CMU) set to ban payment for order flow (</span><a href="https://www.risk.net/regulation/7946841/germany-has-enough-support-to-block-eus-pfof-ban">PFOF</a><span>), while Germany is trying to block it. This controversial matter stirs up debate in the US as well. One camp favors the SEC Chair Gensler’s hype about “order-by-order” competition published in a </span>&lt...

On the heels of the latest court decision, how will market data reform evolve?

<p><span>The US Court of Appeals </span><a href="https://www.cadc.uscourts.gov/internet/opinions.nsf/265FAD4E1FDE293F85258876004F2CF9/$file/21-1167-1953361.pdf">struck down the SEC’s CT-Plan</a><span> on July 5, 2022. Without the CT-Plan to “</span><a href="https://www.linkedin.com/pulse/new-administration-showcases-what-governance-means-kelvin-to/">outsource</a><span>”...

<p><span>Economically, an Alternative Trading System (ATS) may not afford to subscribe to every Exchange’s proprietary feed. ATSs use a mix of SIP feed, selected choice of proprietary feed(s), and vendor solutions to navigate the market in finding suitable liquidity for their clients. Instead of mandating ATSs to source market data other than the published data provided by the SROs, the SEC should consider extending the </span><a href="https://www.sec...

Regulators should refrain from intervening legitimate private practices, writes Kelvin To of Data Boiler Technologies.