September 10, 2007

Market Structure Map - Sep 10-14—Quants Confident as FOMC, Quad-witching, Mark Mid-September

Source: ModernIR - Tim Quast

Intriguing month so far, huh, IROs? Let's survey three market structure items today, looking back at last week's data for our basis:

September 4, 2007

Market Structure Map - Sep 4-7—Investors Taking Somber View of Sellside Season?

Source: ModernIR - Tim Quast

Last week we wrapped up by noting that diminished program trading and increased short-term churning might be products of fear that could leave as the "A" team rode back onto Wall Street. Or not.

August 27, 2007

Market Structure Map - Aug 27-31—The Herd Skitters Out of Summer

Source: ModernIR - Tim Quast

The Market Structure Map is a day late this week, thanks to Monday's holiday. We'll keep to a short read today for that reason.

IROs, two notes on last week's conclusion to the summer season:

August 20, 2007

Market Structure Map - Aug 20-24—Real Investors Back But Not in Charge

Source: MODERNIR - TIM QUAST

We'd love to say that trading data tell us the equity world is well again. Alas, summer sneezes persist, albeit with fewer Kleenexes piled around the refuse bin.

August 13, 2007

Market Structure Map - Aug 13-17—Fed Resets Rates But Not Reality

Source: MODERNIR - TIM QUAST

Last week's actions at the Federal Reserve and foot-soldiering primary dealers underscore, IROs, why it pays to understand market structure.

August 6, 2007

Market Structure Map - Aug 6-10—Volatility: Why Market Structure Matters

Source: MODERNIR - TIM QUAST

A friend who wholesales funds for First Trust (one of the big ETF purveyors today) lamented, "I'd like to take a lead pipe to those idiots on CNBC."

July 30, 2007

Market Structure Map - July 30- Aug 3—IROs, Think Buyside Styles, Not Names

Source: MODERNIR - TIM QUAST

With the markets steady as a loose guy-wire in a gale, we've seen considerable IRO hand-wringing lately. The lament: Who's behind this knee-jerk selling?

July 23, 2007

Market Structure Map - July 23-27—Give Credit Derivatives Their Due

Source: ModernIR - Tim Quast

Pop by modernir.com if you haven't recently and see our site updates. We're jazzed about them, really.

July 16, 2007

Market Structure Map - July 16-20—Monthly Options Expirations Drive Derivatives Strategies

Source: ModernIR - Tim Quast

IROs, it's wise practice now to understand your stock performance before and after monthly options expirations (July 20 marked the passing of the most recent set).

July 9, 2007

Market Structure Map - July 9-13—IROs, Watch ADF for "Broker-Neutral" Algorithms

Source: ModernIR - Tim Quast

We've been eyeing the steady rise of order flow on the Nasdaq's Alternative Display Facility, an impresario mechanism for electronic trading systems. Why should you keep an eye, too, IROs? Because it's a broad proxy for...