Markets News 

A startup trading venue looking to disrupt NYSE and Nasdaq’s business and backed by some of Wall Street’s biggest firms has named its first CEO

“I am looking forward to assembling a world-class team and delivering a transparent and innovative equity exchange for investors.”” writes Dan Defrancesco for businessinsider.com. “It really is a tremendous amount of potential migratory order flow,” Sal Arnuk, cofounder and cohead of equity trading at broker Themis Trading, told Business Insider when the effort was announced.Read more: The Wall Street battle over skyrocketing market data fees could reach a boiling point in 2019 Exchanges have come under heat in recent years over their rising fees.Read more: A group of Wall Street…

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Markets News 

The CEO of the newest cannabis company to list on the NYSE says it’s a ‘perfect time’ to open up to investors as it goes head-to-head with Aurora and Canopy Growth

“CannTrust shares will also trade on the Toronto Stock Exchange, where it was listed previously” writes Jeremy Berke for businessinsider.com. Broadly speaking, Aceto said he’s most bullish on the medical cannabis market — and that’s where CannTrust is placing most of its bets.Canadian marijuana cultivator CannTrust joined some of its heavyweight peers on Monday by listing on the New York Stock Exchange. Investors who purchased shares in the company over the “pink sheets” or OTC Markets Pink Open Market can now trade their shares on the NYSE, the company said…

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News Stocks 

Cannabis company CannTrust’s stock to start trading on the NYSE at the open

“CannTrust’s OTC shares had soared 49.8% over the past three months while the ETFMG Alternative Harvest ETF MJ, +1.19% had climbed 21.6% and the S&P 500 SPX, +0.64% had gained 6.1%” writes Reporter Editor for marketwatch.com. Shares of Canada-based cannabis company CannTrust Holdings Inc. ctst will begin trading on the New York Stock Exchange Monday, under the ticker symbol “CTST.” Shareholders who bought CannTrust shares on the OTC Markets Pink Open Market, under the symbol “CNTTF” may trade their shares on the NYSE beginning Monday.The company’s shares will continue to…

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Crypto News 

SEC Starts Review of NYSE Arca’s Bitcoin ETF Rule Change Proposal

“According to the notice, the NYSE Arca exchange filed a rule change proposal to list and trade shares of the Bitwise Bitcoin ETF Trust under its NYSE Arca Rule 8.201-E on Jan. 28” writes Helen Partz for cointelegraph.com. The United States Securities and Exchange Commission (SEC) started reviewing a rule change proposal for NYSE Arca’s Bitcoin (BTC) exchange-traded fund (ETF) on Feb. 11, according to an official document published today, Feb. 15. Source: cointelegraph.com

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Brokers News Stocks 

Big U.S. exchanges to sue SEC over ‘overreaching’ fee experiment

“The exchanges argue rebates are needed to compensate brokers for providing liquidity and that the SEC has not shown that they harm the market” reports businessinsider.com. NEW YORK (Reuters) – The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders. Source: businessinsider.com

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Markets News 

Nasdaq and NYSE are suing their regulator over a pilot they say could put some ETFs out of business

“The Transaction Fee Pilot, which was approved in December, was designed by the SEC to examine how exchanges’ transaction fees and rebates impact where brokers choose to route clients’ orders” writes Dan Defrancesco for businessinsider.com. The SEC’s pilot, which could last up to two years, will create two test groups of securities in which either transaction fees will be limited or rebates will be prohibited. Source: businessinsider.com

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News 

An NYSE exec who’s interviewed hundreds of business leaders says you don’t have to be an extrovert to be a successful entrepreneur

“In the business world, introverts seem to have the deck stacked against them” writes Mark Abadi for businessinsider.com. Liu is the founder of Radiate, an online library of educational videos about leadership and management, and previously was an anchor for Bloomberg TV. Over the years, she has interviewed hundreds of business leaders, from Warren Buffett and Elon Musk to Ariana Huffington and Magic Johnson. Source: businessinsider.com

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Crypto Futures News Platforms 

NYSE Operator’s Crypto Platform Bakkt Finalizes Its First Acquisition

“By acquiring certain assets in the company, Bakkt said it hopes: Bakkt had announced the acquisition of assets in RCG in mid-January” writes Ana Berman for cointelegraph.com. Bakkt, the much-anticipated digital assets platform operated by the Intercontinental Exchange (ICE), has closed its first acquisition, a tweet from the company revealed Feb. 8. More recently, Bakkt published a list of eight evidently new vacancies at the company, all of which are based in Atlanta and New York City.On Thursday, Feb 7, ICE — the parent company of the New York Stock…

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Crypto Markets News 

NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors

“The Intercontinental Exchange (ICE) has partnered with major global blockchain firm Blockstream to launch its Cryptocurrency Data Feed product, as ICE Data Services tweeted on Jan. 24” writes Helen Partz for cointelegraph.com. ICE had previously announced its plans to launch Bakkt, regulated, global ecosystem for digital assets, in August 2018.According to the announcement, ICE’s new crypto data service enables real-time and historical data for more than 60 cryptocurrencies from major trading markets and exchanges worldwide.Founded in 2000 in the United States, the Intercontinental Exchange is a global company that owns…

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Markets News Stocks 

Here’s what low NYSE trading volume is telling us about the stock market’s direction

“To be sure, measuring the impact of lower trading volume is anything but straightforward, since trading volume has grown steadily over the years” writes Mark Hulbert for marketwatch.com. But if low trading volume is among them, you probably can let that one go.JPMorgan Chase recently estimated that only about 10% of trading volume represents “fundamental discretionary traders,” in contrast to automated trades.But it’s not clear whether the high volatility is what caused the high volume, or vice versa.In light of this pattern, perhaps we should be glad that trading volume…

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