Asad Bhatti

  • Oct 6, 2020, 8:00 AM

    An In-Depth View Into U.S. Equity Markets

    An In-Depth View Into U.S. Equity Markets

    How many equity destinations can you trade on? This month, the industry has seen the launch of three new trading venues on top of the existing 13. While this number seems intimidating, increased competition may have some benefits for investors. Each market participant must allocate resources and determine how each market center benefits them. Those benefits depend on the type of flow each industry participant services. To further explore the current liquidity landscape, it is important to first[...]

  • Jul 15, 2020, 9:20 AM

    Lighting up the Dark: Hidden Trends In Off-Exchange Trading

    Lighting up the Dark: Hidden Trends In Off-Exchange Trading

    The fragmentation of equity markets has caused market centers to evolve in recent years, each with their own distinct characteristics. With 13 live public exchanges (soon to be 16), over 30 Alternative Trading Systems (ATS) — electronic trading venues that match buyers and sellers without displaying a public quote — and multiple other ‘off-exchange’ market centers, equity market participants have a slew of options for optimal execution. The variety of choice makes the decision[...]

  • May 21, 2020, 8:29 AM

    How to Enhance Order Execution During High Volatility

    How to Enhance Order Execution During High Volatility

    As volatility increases in the broader equity markets, market experts have opined that the average cost of trading has also pushed higher. Using a simple trade impact model, this observation can be dissected into two main drivers: the appearance of wider spreads and an increased exposure to higher price volatility. Just by its nature, volatility can be expected to fluctuate over time and also during the course of the trading day. For example, the first hour of the trading day is typically associated[...]