Liquidity takers should thank the Fed for grinding stocks higher - top of book spread on ES futures has compressed by a factor of 4 in the last decade entirely because of price increases (in points terms it is a flat line)pic.twitter.com/QyZr5OG18l
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Liquidity takers should thank the Fed for grinding stocks higher - top of book spread on ES futures has compressed by a factor of 4 in the last decade entirely because of price increases (in points terms it is a flat line)pic.twitter.com/QyZr5OG18l
CME innovating by keeping tick size the same for two decades despite overwhelming evidence that market makers would quote tighter if they could.
The biggest innovation, which took forever, was rolling out smaller and smaller contracts in order to cater towards retail.
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