Media Room

Traders, market makers hope '18 ends the pain of low volatility - EXCLUSIVE

For much of the year, equity markets have steadily climbed with few dips, suppressing trading activity and volatility. So far in 2017, the Cboe Volatility Index, a measure of implied volatility, has posted the lowest average daily close in a single year since at least 1990, according to the exchange operator’s historical data.

"It's been a pretty painful period for the industry," Justin Schack, a managing director and partner with research and brokerage company Rosenblatt Securities, said in an interview.

Trading companies such as market makers depend on volatility and price swings to profit from increased business as investors adjust their holdings. Lower trading volume has pressured trading companies throughout the year, pitting them against higher market data fees and trading venue connectivity costs. 

Source: S&P Global Market IntelligenceDate: Thursday, December 21, 2017

60 seconds with…Anish Puaar Market Structure Analyst, Europe Rosenblatt Securities Inc.

Since 20 October 2014 launch of the original Turquoise Block Discovery service to the end of November 2017, investors successfully matched €58 billion via Turquoise Plato Block Discovery™ of which €54 billion or more than 92.5% matched since the September 2016 cooperation agreement with Plato. How do you think MiFID II will impact block-trading volumes in Europe?

Source: PlatoDate: Tuesday, December 19, 2017

Goldman Sachs Plans MiFID Venue for Bonds, ETFs, Derivatives

For fixed-income securities, SIs will allow banks to continue offering liquidity directly to clients in largely the same way they do today, says Anish Puaar at Rosenblatt Securities Inc. But it’s a different story for equities, he says, because SIs must compete with exchanges and other trading venues for market flow.

“SIs have advantages over other types of venue in how they can price and tailor liquidity to suit client needs,” said Puaar, Rosenblatt’s European market structure analyst in London. “These benefits could see bank-run SIs gain significant market share in the next 12 to 18 months.”

Source: Bloomberg/NewsroomDate: Tuesday, December 12, 2017

Rosenblatt, Shah Named to II Fintech Finance 40 List

New York, NY, November 27, 2017. Rosenblatt Securities is pleased to announce that the firm and its head of fintech investment banking, Vikas Shah, have been selected as part of the prestigious Institutional Investor Fintech Finance 40 ranking for 2017. Shah is No. 33 on the list of the world’s most influential players in financial-technology banking and investment, which II began publishing in 2015.

Source: Rosenblatt SecuritiesDate: Monday, November 27, 2017

SEC action on European research rule brought 'sigh of relief' to banks, brokers

A sweeping European market-reform initiative was poised to disrupt U.S. brokers' equity research businesses until Wall Street's chief regulator entered the fray.

Europe's revised Markets in Financial Instruments Directive, or MiFID II, was designed to level the playing field among financial services companies through a myriad of regulatory changes, most prominently the separation of research costs from trading execution costs.

Source: S&P Global Market IntelligenceDate: Friday, November 03, 2017

Brexit help wanted: Europe’s biggest exchanges seek new CEOs

Europe’s biggest exchange operators are seeking new chief executives that will be at the helm of their companies as Brexit unfolds. London Stock Exchange Group CEO Xavier Rolet is departing after leading the company for eight years, while Deutsche Boerse boss Carsten Kengeter is leaving after being dogged by insider trading allegations.

Source: QuartzDate: Monday, October 30, 2017

MiFID’s Controversial Dark-Trade Workaround Has Some Crying Foul
- Exchanges complain bank-run dark venues get unfair advantage
- MiFID rules on ‘systematic internalizers’ at center of debate
Source: Bloomberg/NewsroomDate: Friday, September 22, 2017

Rosenblatt speaks at MarketsWiki Education’s World of Opportunity

“When your crystal ball gets foggy, your two greatest assets will be your humility and your flexibility.”

Source: John Lothian NewsDate: Friday, September 08, 2017

Dark-Pool Clampdown Seen Ensnaring 74% of European Equities

If fund managers want to keep trading in European dark pools, they will need a big overhaul of their practices before new rules kick in next year.

Source: Bloomberg/NewsroomDate: Monday, June 26, 2017

Rosenblatt Hires Veteran Financials Analyst Christopher Allen

Rosenblatt Securities is pleased to announce it has hired veteran financial-services-industry analyst Christopher Allen.

Source: Rosenblatt SecuritiesDate: Wednesday, June 21, 2017