Tag:
IOIs
Latest Headlines
Latest Headlines
Are you ready for high-touch actionable IOIs?
Actionable indications of interest (IOIs) have been controversial over the past year, as a debate raged about whether they should be considered and treated as actual quotes. Some think actionable
A closer look at dark pool regulation
Last November, the SEC proposed a set of regulatory changes regarding trading in "dark pools," with an emphasis on the use of IOIs (indications of interest) as a means of passing information to privileged traders. The SEC sees the practice as an impediment to market transparency . Others have c
A closer look at dark pool regulation (continued)
"The rise of "pinging"
Another new route likely to be taken by large investors is the use of immediate-or-cancel orders to " ping " potential counterparties. IOCs could be blindly sent to dark pools and other alternative exchanges in the hope of drawing a response or finding a match for
Ways around IOI restrictions
Recall that the SEC has taken up the issue of dark pools and specifically the widespread practice of using indications of interest (IOIs) as a service to customers. The agency has come forth with two
The future of dark trading
The SEC has decided to take a close look at the modern structure of the markets, which some think have been so altered by technology that the goals of Reg NMS and other regulations have been
How far will the SEC's review go?
It's no secret that the SEC is taking a look at high-frequency trading and other modern innovations. It's already indicated it will ban flash orders and it seems skeptical of the worth of IOIs. What
IOIs to end up in regulatory crosshairs?
Indications of interest have been in the news quite a bit over the past few years, as dark pools increasingly diversified their services. The rap on IOIs is that they've proved to be an easy tool
Dark pools as a populist issue?
I doubt that dark pools will ever emerge as a big public issue, but financial reform is one of those ideas that, for better or worse, has gained traction. There are also those who wonder if
FINRA warns on natural IOIs
It's no secret that there's some gaming going on when it comes to dark pools and indications of interest. FINRA has taken the unusual step of warning traders that they have an obligation to send out
Dark pools too dark for customers?
We've noted recently that clients aren't necessarily savvy customers when it comes to the ins and outs of the many dark pools competing for their order flow. The rise of IOIs has thrown a wrench into
