I have covered the rise of ‘non-bank’ or ‘alternative’ market-makers a few times recently, notably here, here and here.
Looking at how, armed with market leading technology, talented etrading techies from sell-side firms and teams of razor-sharp quants, these firms are now providing deep consistent liquidity to the market in a capacity previously the preserve of the top-tier ‘flow’ monster’ banks.
The perception of non-bank market makers has traditionally been Continue reading
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