Category Archives for Uncategorized
The Trading Floors Are Not Closing, Only the Futures Pits!
June 2015 My interview for a position at Merrill Lynch on the trading floor of the Chicago Mercantile Exchange took place in a smokers’ break room. A hurried Merrill Lynch filling broker with a raspy voice and a mustache somewhat out of date for 1986 asked
All Eyes on the Fed
February 2015 The Fed’s seven year experiment with a zero interest rate policy, magnified by the added stimulus of multiple Quantitative Easing programs as well as Operation Twist, has market participants focused ever more intently on our revered central bank. How will they remove the
2015 Outlook
February 2015 Following the Great Recession, the U.S. economy has grown at an average annual rate of 2.3 percent. This relatively lackluster growth compared to other recoveries has also been slow to increase not only employment, but also to generate inflation in a manner markets
Will High Frequency Trading Force a Market Redesign?
October 2014 Notwithstanding the evident benefits of HFT in electronic markets, many market participants have argued that some HFT practitioners utilize trading techniques that are detrimental to the well-functioning of financial markets. Some of the trading techniques are spoofing, layering, and quote stuffing. Chicago Federal
