September 11, 2018
An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern Markets Initiative is pushing back on a tax provision in the bill.
August 3, 2018
Pensions and Investments By Kirsten Wegner July 23, 2018 Institutional investors continue to navigate a challenging landscape marked by geopolitical risks, low yields and sizable long-term obligations. Now, coming from Sen. Bernie Sanders, I-Vt., is another challenge posed by the so-called financial transaction tax included in the Inclusive Prosperity Act of 2017. Mr. Sanders continues […]
May 17, 2018
On May 14, MMI was excited to join NCPERS in ringing the closing bell at the NYSE. MMI celebrated the public service in our communities of the NCPERS trustees for teaching our children, policing our streets, and being there if need be to run into a burning home. Also, the vital work of the pension fund trustees in working to advance secure retirement.
February 6, 2018
In a market sell-off, as we saw on February 5th, automated traders including those called Designated Market Makers (DMMs) at the New York Stock Exchange and the largest market makers on Nasdaq used HFT tools to quickly stabilize the markets. Many market makers have obligations to buy stocks when no one else wants to buy, and to sell when no one wants to sell. These capital commitments of electronic market makers using HFT play a vital role in bridging the gap between supply and demand for a stock.
January 12, 2018
(Published in Business Insider on Jan. 12, 2018) –Exchanges are rapidly increasing the cost of their proprietary data feeds that traders need to compete in US markets, writes Kirsten Wegner, CEO of the Modern Markets Initiative. –Those costs are eating away at American retirement savings. –Regulators should require exchanges to be more transparent about why […]
November 17, 2017
BNPP partners GTS for US Treasury trading Helen Bartholomew LONDON, Nov 15 (IFR) – BNP Paribas has partnered with electronic market-making firm GTS for US Treasury trading, cementing a new era of collaboration between banks and high-frequency trading firms in an increasingly electronic market where technology is providing the competitive edge. The tie-up, which represents […]
August 11, 2017
Sarah N. Lynch WASHINGTON (Reuters) – Modern Markets Initiative (MMI), a trade group representing several prominent high-frequency trading firms, announced the appointment on Wednesday of Kirsten Wegner as its new chief executive officer. Wegner, a former government relations director for the International Securities Exchange, is the first woman to serve as head of the relatively […]
July 10, 2017
Money managers and internally managed pension funds are expected follow T. Rowe Price, which started sending direct equity order flow to high-frequency trading firm Virtu in 2015. “The T. Rowe-Virtu deal is kind of like the canary in a coal mine, and the canary is doing pretty well,” said William R. Harts, CEO of Modern […]
May 31, 2017
Bill Harts, CEO of the Modern Markets Initiative, is one of the panelists who will be considering “Trading in the new normal environment” at the Intelligent Trading Summit in New York on June 8. “Markets and investors are embracing the role that high-frequency traders play in providing liquidity and being the engine behind making our […]
April 13, 2017
The SEC couldn’t gain nearly unrestricted access to trading systems’ computer software under a new Republican proposal to overhaul the Dodd-Frank Act. House Financial Services Chairman Jeb Hensarling would require the SEC to obtain a subpoena before getting access to source code, according to a committee memo laying out changes to his Financial Choice Act. […]
BlackRock Viewpoint, June 2011