Week InReview: August 19, 2016

"This is not entirely accurate, but as a rough rule of thumb it seems fair to say that human traders like opacity, because it rewards them for accumulating information and developing relationships, while electronic traders like transparency, because the more information that is publicly available, the more of it they can crunch quickly to develop accurate prices and good trading strategies. Right now Treasury trades happen more or less without any disclosure, and the SEC is seeking comment on a Financial Industry Regulatory Authority proposal to require some disclosure, and some people think that's bad, while some people -- the ones with robots -- think it doesn't go far enough."
~Matt Levine Bloomberg View

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