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In this conversation, we chat with Paul Rowady is the Founder and Director of Research for Alphacution Research Conservatory and a 30-year veteran of proprietary, hedge fund and capital markets research, trading and risk advisory initiatives. Alphacution is a digitally-oriented research and strategic advisory platform focused on modeling and benchmarking the impacts of technology on global financial markets and the businesses of trading, asset management and banking. This data-driven approach allows Alphacution to reverse-engineer the operational dynamics of these market actors to showcase the most vivid and impactful themes among the field of available research providers and platforms.
More specifically, we touch on all things Robinhood, trading velocity, market making, crypto trading, wholesale, mobile app trading and its impact on hedge funds and asset managers, regulation and the SEC, and the future of capital markets and investment management.
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Sneak Peek:
Paul Rowady:
Now, flash forward a bit, and I know we're going to skip over a lot, but flash forward to Robinhood's latest earnings report, and we see this massive shift toward crypto trading and the revenue of that crypto trading. But oh, guess what? A lot of the same wholesalers or group of wholesalers are still behind the scenes. We have a few new names. One that you're likely to be hearing about, certainly by Alphacution, we've already written about it, is another very successful, legendary proprietary trading firm called Jump Trading, based in Chicago. And in Q2 they paid more for crypto orders to Robinhood. They paid more to Robinhood for that order flow in cryptocurrencies than Citadel Securities had ever paid for equities or options. It was $163 million in one quarter by one player. That's a significant development…
More? So much more!
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