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.