Articles written by Kelvin To - Benzinga

Race To The Bottom For Market Data Reform

From Latency To A.I. Algo Driven Capital Markets

A.I. Risks = Downfall Of Humanity

I am perturbed by those who do NOT understand Artificial Intelligence (A.I.) using “A.I. Risks” in an attempt to sell existing Governance Risk, Compliance (GRC), Business Continuity, Resiliency, Cybersecurity, Privacy, and non-discriminatory tools, and then regurgitate them as the “Foundations of a responsible A.I. risk management framework”.

Up-And-Running Of Consolidated Tape Versus Market Structure Improvement

The FCA concluded its comment period for Policy Statement for the framework for UK consolidated tape (CT) on the 9th of February 2024.

How A Public Utility's Licensing Framework Can Be Reasonable Commercially?

The UK and the EU are charging forward in planning a single Consolidated Tape (CT) for each asset class in their respective region.

Are Digital Asset Portals Akin To Stock Exchanges Or Casinos?

The SEC’s reopening release # 34-97309 for redefinition of “exchange” reiterated the applicability of existing rules to platforms that trade crypto digital asset securities, including so-called “DeFi” system.

Market Data: Competing Consolidators without CT-Plan

The US Court of Appeals struck down the SEC’s CT-Plan on July 5, 2022.

Trading Venue Perimeter: related Market Data issue and a Viable Alternative

Economically, an Alternative Trading System (ATS) may not afford to subscribe to every Exchange’s proprietary feed. ATSs use a mix of SIP feed, selected choice of proprietary feed(s), and vendor solutions to navigate the market in finding suitable liquidity for their clients.