Episode 277: BMO on market structure

Waters Wavelength

Tony speaks with Joe Wald, managing director and head of electronic trading at BMO Capital Markets. But before that, Tony and Shen discuss their story about BlackRock’s mysterious “new” fixed-income tool, Aladdin Trader. Shen also talks about her recent trip to London. Skip ahead to 18:00 for the interview with Joe. https://www.waterstechnology.com/trading-tech/7951509/what-is-aladdin-trader-blackrocks-fixed-income-tool-still-a-mystery 18:00 – Joe joins the podcast and walks us through his role at BMO 21:00 – They dive into the SEC’s market structure proposals, and the macro trend of systematic trading 27:00 – Joe summarizes the changes to market structure in the US since Reg NMS 30:00 – Joe discusses what he believes to be the most controversial piece of the proposals 34:30 – Playing devil’s advocate for the changes the SEC is proposing 36:30 – How should firms work with third-party providers to prepare for these changes? 40:00 – How the 2024 US presidential elections may affect these proposals