Dark Pools Scott Patterson Pdf Download Fix
another source of concern over dark pools is the question of market access. many brokers that own dark pools, including td ameritrade and fidelity, have expressed fear that dark pools will compete with large-volume brokerages (lvwbs). for instance, in 2008, former td ameritrade ceo joe zidle told reuters that the company's dark pools were made to serve the individual investors who comprise "the majority of our customers." 15 he went on to say that dark pools would only be able to compete with the brokerage firms if the volume from those dark pools grew to match the firm's overall volume. in april 2014, fidelity markets chairman rob jones told investment dealers' digest that brokers like him had entered dark pools to find out more about other customers, but their learning process had stalled because they have not been able to develop a large enough market data base. 16
Dark Pools Scott Patterson Pdf Download
the publication of the may 2014 restoring the faith, deloitte, blackwell, discusses a number of other opportunities that dark pools offer, including: the possibility of significant disruption of market functioning, including price volatility and illiquidity, in the absence of dark pools. the promise of direct access by retail investors to the deep liquidity offered by dark pools (relative to the direct access they offer to retail brokerage firms and exchange markets). the lack of transparency in dark pools, which leaves investors unable to evaluate the prices they face. 15 and the lack of oversight of dark pools, which leaves the accuracy and integrity of the data on dark pools at risk. these can also be described as opportunities.