Safe and Sound Capital Markets Are a Bipartisan Imperative


The table is finally set on Capitol Hill with the drawn-out election process resulting in a divided Congress. But there is one issue that…

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Investors Need Full Transparency on the Costs of Stock Trading


Look at your next restaurant, phone or credit card bill– and you would be incensed if there were hidden fees. Yet, they exist, quietly…

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Regulators should bring the best of equity market regulation to crypto investment


Former MIT cryptocurrency professor Gary Gensler, more widely known today as the new chairman of the U.S. Securities and Exchange…

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The Gamestop Hearings Should Address Democratization of Investing


Congressional oversight of the nation’s securities markets takes center stage today with a hearing on GameStop’s frantic stock trading over…

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Study: Financial Transaction Tax Is a Tax on Retirement Savers


Framed as a tax on Wall Street, a new study contends that a financial transaction tax in reality would threaten the retirement savings of…

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How a Financial Transaction Tax Would Hamstring 401k Savers


Middle class Americans saving for college, retirement and other life milestones would see a “backbreaking tax bite” if federal proposals to…

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The Hill’s Top Lobbyists 2020


2020 was a chaotic year for K Street, with the coronavirus pandemic and lobbying battles for COVID-19 relief legislation consuming much of…

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5 market structure trends for lawmakers to watch in 2021


Despite tragic setbacks brought by COVID-19, 2020 showed promise in one area: technology. From video calls replacing office meetings to…

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A Financial Transactions Tax Would Be a Huge Blow to Little Guy


With the resurgence of COVID-19 in many states across the country, millions of people out of work, and a pivotal political election quickly…

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Retirement Savings Would Be ‘Hit Hard’ by Financial Transaction Tax


Recent bills introduced in Congress to impose a financial transaction tax (FTT) would have a drastic effect on retirement savings and many…

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Bernie Sanders and Kamala Harris want to erase student debt and reform healthcare by taxing Wall Street. But a new study shows college and retirement savings would take a serious hit.


A financial transaction tax like those proposed by presidential hopefuls Bernie Sanders and Kamala Harris would cost investors saving for…

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Bernie Sanders has a plan to erase student debt by taxing Wall Street.


When Bernie Sanders revealed that his proposal for free college tuition and the erasure of student debt depended on a financial-transaction…

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Responsible use of artificial intelligence can make our financial markets even stronger


Over the past few decades, life as many of us know it has changed dramatically due to the evolution of AI — artificial intelligence.…

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Kirsten Wegner: It’s National 529 College Savings Plan Day – but watch out for new Dem tax proposals→


Wednesday is National 529 College Savings Plan Day – but you might want to think twice before celebrating. The 529 plans are widely…

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US financial transaction tax would put unfair burden on savers→


In her latest op-ed, MMI CEO Kirsten Wegner dives into how the proposed retirement tax would be a huge hit to pensions and 401k investors.

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Market volatility ensures a larger role for FinTech in 2019→


MMI CEO Kirsten Wegner weighed in on FinTech trends investors should be on the lookout for in 2019 in this op-ed in The Hill.

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The Hill’s Top Lobbyists of 2018


MMI’s Kirsten Wenger was named among The HIll’s list of the most distinguished and accomplished professionals from the influence world who…

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Let’s not tax colleges to pay for college tuition


Imagine this: free college tuition for everyone, and all we have to do is impose a tiny tax on big-money financial institutions when they…

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Another Hit to Retirement Plan Investors: Financial Transaction Tax→


An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern…

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Pension funds cannot afford Sanders’ tax on financial transactions


Institutional investors continue to navigate a challenging landscape marked by geopolitical risks, low yields and sizable long-term…

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Pension Funds Ring Closing Bell with MMI at NYSE


On May 14, MMI was excited to join NCPERS in ringing the closing bell at the NYSE. MMI celebrated the public service in our communities of…

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HFT Supplies Dependable Liquidity During Market Volatility


The events of the past few days have reopened important conversations about the role of professional intermediaries using High Frequency…

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Wall Street is embroiled in a war over data — and it’s having an impact on Americans’ savings


Exchanges are rapidly increasing the cost of their proprietary data feeds that traders need to compete in US markets, writes Kirsten…

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MMI Member Spotlight: GTS to Provide Technology for BNP to Access US $14 Trillion Treasuries Market, Pioneering New Type of Trading Alliance


BNP Paribas has partnered with electronic market-making firm GTS for US Treasury trading, cementing a new era of collaboration between…

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High-speed trading group elevates first female to role as CEO


Modern Markets Initiative (MMI), a trade group representing several prominent high-frequency trading firms, announced the appointment on…

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Pensions & Investments: T. Rowe Price sees benefits of high-frequency trading


Money managers and internally managed pension funds are expected follow T. Rowe Price, which started sending direct equity order flow to…

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Intelligent Trading Technology: How Trading Operations Changes Both Cut and Inflate Costs


Bill Harts, CEO of the Modern Markets Initiative, is one of the panelists who will be considering “Trading in the new normal environment”…

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Securities Law Daily: Dodd-Frank Redo Would Limit SEC Access to Source Code


The SEC couldn’t gain nearly unrestricted access to trading systems’ computer software under a new Republican proposal to overhaul the…

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Bloomberg: Precidian Closer to Hidden-Asset ETF to Curb Front-Running


Rachel Evans and Annie Massa report Precidian Investments has unveiled a new suite of strategies for an innovative type of actively managed…

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Sharon Merrill IR Blog: MMI CEO Interview – Investor Relations and High-Frequency Trading


Bill Harts speaks to top IR firm Sharon Merrill for its The Podium blog where he wants investor relations people to know that…

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Futures Radio: MMI CEO Interview – Seven Minutes With Seven Industry Leaders


Show host, and 17-year futures veteran and CME member, Anthony Crudele speaks with MMI CEO Bill Harts at the 2017 FIA Boca conference.

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Banking Technology: MMI CEO Op-Ed – Blockchain offers banks potential, but HFT provides benefits now


MMI CEO Bill Harts writes that blockchain is a futuristic FinTech solution whose potential has captured the imaginations of many in the…

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The Hill: MMI CEO Op-Ed – Night of the living tax: It’s time to bury Ellison’s Inclusive Prosperity Act


MMI CEO Bill Harts writes that Rep. Keith Ellison reintroduced his plan for a financial transaction tax on every stock, bond and…

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The Street: In the Long Run, Trump’s Tweets Don’t Matter


Emily Stewart reports that no clear pattern can be derived from the performance of the public companies President Trump has attacked or…

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The MoneyLife Radio Program: MMI CEO Bill Harts Interview


Program Host Chuck Jaffe, winner of numerous awards for business and personal finance journalism, speaks to Bill Harts about the benefits…

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WSJ: Multiple Buyers, Not One, Influenced Most Active E-Mini Move of 2016


Alexander Osipovich reports that a sharp move in stock-market futures that fueled the Dec. 7 buying in U.S. equities likely reflected…

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Financial News: Possible Consequences of the Pending Trump Presidency on Reg AT


Tim Cave reports Bill Harts, chief executive of New York-based HFT advocacy group Modern Markets Initiative, said that as a result of the…

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Washington Post: Possible Consequences of the Pending Trump Presidency on a FTT


Renae Merle reports Wall Street insiders had been preparing for a Clinton administration that would institute a financial transaction tax…

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ValueWalk: CFTC One Step Closer To Reg AT, Requiring Access to Algos


Mark Melin reports the CFTC proposed rulemaking changes to issue a “special call” notice to registered participant as opposed to a legal…

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Financial Times: CFTC set to tweak rules for automated trading


Gregory Meyer and Joe Rennison report the Commodity Futures Trading Commission’s proposal, known as Regulation AT, seeks subpoena-less…

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Waters Technology: Reg AT’s Source Code Proposal Remains Lighting Rod


Dan DeFrancesco reports panelists at the North American Buy-Side Technology Summit 2016 discussed the merits of a portion of Reg AT calling…

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Anatomy of an IPO: MMI Member GTS


NYSE designated market maker and high-frequency trading firm GTS recently managed the largest IPO of 2016.

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Bloomberg: Algorithmic Traders Might Keep Trade Code Secret as CFTC Mulls Tweaks


Benjamin Bain reports Commodity Futures Trading Commission Chairman Timothy Massad said his commission is considering modifying its push…

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MarketsWiki Education: MMI CEO – How a Small Group of Traders Improved Markets for All (Video)


MMI CEO Bill Harts gives a short history of how to market intermediaries that use high-frequency trading tools have made trading cheaper…

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MMI CEO in Morning Consult: IEX application approval creates best execution wait-and-see


Ryan Rainey reports that one critic of IEX’s application has been the New York-based Modern Markets Initiative.

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MMI CEO Op-Ed in USA Today: The best markets ever for investors despite IEX claims


Fair and fierce competition in the U.S. stock market has greatly benefited our country.

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MMI Member GTS on Fox Business News: US Foods IPO a great success thanks to a hybrid HFT and human oversight model


GTS Co-Founder and CEO Ari Rubenstein discussed his firm’s handling of the trading debut of US Foods.

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Futures and Options World: High-speed traders – Don’t take our code


“For the most part what they put out in Reg AT are best practice rules that most high-frequency trading (HFT) firms already follow,” said…

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MMI CEO in The Washington Post: Take On Wall Street group calls for an ill-conceived financial transaction tax


Renae Merle reports the proposed so-called transaction tax has already raised concerns among some on Wall Street.

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Business Insider: MMI Releases New Video


Matt Turner reports Modern Markets Initiative is making a new effort to demystify the firms.

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MMI CEO Op-Ed in MarketWatch: Investors have the best stock market ever — thanks to high-frequency trading


Would you like to retire with 32% more money in your 401(k) account? Do you want to be sure your online brokerage is providing you with the…

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MMI CEO Op-Ed in CNBC.com: Bernie Sanders’ Financial Transaction Tax a Bad Idea Built on Bad Research


MMI CEO Bill Harts writes that Democratic presidential candidate Bernie Sanders is running an aspirational campaign long on provocative…

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MMI CEO in The Hill: Wall Street pushes back on trading tax


Naomi Jagoda reports Modern Markets Initiative, an advocacy group for high-frequency trading firms, has been writing op-eds to speak out…

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MMI CEO in Financial Times: SEC interpretation could lead to IEX copycats


Nicole Bullock reports that last week the Securities and Exchange Commission (SEC) said it would continue weighing the application from…

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Bloomberg News: Regulator Pledges to Keep Secrets for High-Frequency Traders


Annie Massa and Brian Lewis report (MMI Founding Member) Hudson River Trading LLC and CTC Trading Group LLC both filed public letters…

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MMI CEO in The Street.com: How Bernie Sanders Wants to Tax Your Trades


Emily Stewart reports one of the core parts of the Sanders campaign platform, the Wall Street speculation tax — otherwise known as a…

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Bloomberg News: Tired of Boogeymen Portrayals, Speed Traders Take to NYSE Floor


Annie Massa reports Citadel Securities and (MMI Founding Member) Global Trading Systems LLC recently agreed to buy NYSE floor-trading…

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Financial Times: MMI Member Mark Gorton Calls for Better Exchange-Level Risk Controls


Financial Times’ Robin Wigglesworth features MMI Member Mark Gorton, the founder and head of Tower Research Capital.

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MMI CEO Op-Ed in Modern Trader: Source code, it’s the real thing


In Modern Trader magazine, MMI CEO Bill Harts writes that when Coca-Cola abruptly withdrew from India in 1977, where it had been operating…

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Bloomberg TV: High-Speed Firms Now Oversee Almost All Stocks at NYSE Floor


Annie Massa reports Modern Markets Initiative Founding Member Global Trading Systems agreed to purchase Barclays Plc’s business at the New…

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MMI Comment Letter to the CFTC Regarding Regulation Automated Trading


MMI appreciates the Commission’s work, generally, but takes special notice of the comprehensive efforts related to Regulation AT.

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Black Engineer: Making College Tuition Free and Debt Free


Black Engineer reports that in a summer 2015 commentary, Bill Harts, CEO of the Modern Markets Initiative, agreed that affordable college…

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MMI CEO in The New York Post: IEX Exchange Application Faces Criticism


John Aidan Byrne reports MMI CEO Bill Harts regarding the anti-HFT claims made by IEX in its application to become a registered stock…

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MMI CEO in Bloomberg News: China and Clinton Agree Traders Should Pay for Canceled Orders


Eduard Gismatullin and Sam Mamudi report Chinese securities regulators are preparing some of the world’s strictest regulations on a trading…

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MMI CEO Op-Ed in Pensions & Investments: Taxing Teachers


Pensions & Investments published an opinion piece from MMI CEO Bill Harts on those who will be affected by a financial transaction taxes.

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MMI Member Op-Ed in TabbFORUM: The “All Comers” Market in Treasuries


TabbFORUM published an opinion piece by Cameron Smith, president of MMI Member firm Quantlab.

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MMI Comment Letter to the SEC Regarding the IEX Exchange Application


Based on our reading of IEX’s comment letters, we believe IEX realizes it will need an extraordinary exemption for its unprecedented…

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MMI Member GTS Featured in The Wall Street Journal: The New Bond Market


In The Wall Street Journal, MMI Member Global Trading Systems is cited as one of the companies creating algorithms that are remaking the…

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MMI CEO in Financial Times: HFT in the Treasuries Market


Financial Times explores the role of proprietary trading firms (PTF) in providing liquidity in the Treasuries market, especially during a…

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MMI CEO in International Business Times: The Financial Transaction Tax


In the International Business Times, cited MMI in a story about the important role of HFT and how a financial transaction tax would have a…

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MMI CEO in The Washington Post: market Volatility on August 24, 2015


The Washington Post reports MMI CEO Bill Harts said his member firms worked hard to clear orders, especially sellers whose orders…

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CNBC-TV: Market’s high speed plunge


On CNBC, MMI refutes claims that the trading of odd lots during the 1,000 point decline on the Dow Jones Industrial Average on August 24,…

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MMI Member in The Wall Street Journal: Investors Grasp for Answers Amid Wild Stock Rout


In The Wall Street Journal, an analysis of the 1,000 point drop in the Dow Jones Industrial Average on August 24, 2015 is analyzed and…

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Financial Transaction Tax Would Burden Mom and Pop


The goal is lofty, audacious and of perfect soundbite length: Free college tuition for all, paid for exclusively by a “small” tax on “Wall…

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MMI CEO Op-Ed: Why taxing Wall Street won’t work


CNBC.com published an Op-Ed by MMI CEO Bill Harts in which he explained the negative consequences of a financial transaction tax.

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MMI CEO in The Wall Street Journal: Regulators Question High-Speed Trading in Treasurys


Bill Harts, chief executive of the Modern Markets Initiative, an advocacy group for high-frequency trading firms, said those firms support…

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Traders: Modern Markets Initiative Asks, What’s in a Name?


Traders Magazine.com publishes a blog post from Modern Markets Initiative in which MMI is looking to change the perception of…

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MMI CEO in FoxBusiness.com: High-Speed Trading, Fragmentation Silver Lining to Market Glitches


“Clearly, when the markets went down a lot of people were surprised that there are a lot of other markets that trade the same stocks as the…

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MMI CEO in Financial Times: US Treasuries: the times they are a-changin’


The Modern Markets Initiative and the Principle Traders Group say the (treasury report on Oct 15 2014 volatility) vindicates HFT’s role in…

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MMI CEO in The Wall Street Journal: U.S. Finds ‘No Single Cause’ of Treasurys Tremor


Bill Harts, chief executive of the MMI said regulators should focus on behaviors they would like to encourage or discourage, rather than…

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Financial News: NYSE and the market halt that didn’t matter


While the NYSE was down, NYSE stocks did, in fact, continue to trade normally.

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Bloomberg News: It’s a Bull Market for Speed Trader Virtu as Greece Roils Stocks


There has been a decrease in the volatile rhetoric surrounding HFT.

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HFT critic Michael Lewis ‘dead wrong:’ Author


“Michael Lewis got it wrong when he said that high-frequency traders are front running the public market. What he alleged is simply…

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Not so fast: Understanding high frequency trading


Peter Kovac, Author, Flash Boys: Not So Fast and an MMI consultant joins BNN’s The Street for a look at why he’s refuting claims made in…

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MMI CEO in Wall Street & Technology : Speeding Up the SIP Isn’t Enough, Say Market Pros at Baruch Conference


Bill Harts, CEO of MMI said, “As long as there is any SIP, it’s going to be slower than direct feeds.”

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Oceans of Data: Ari Rubenstein Talks About the Next Data Challenge and Solution


Global Trading Systems CEO and MMI member Ari Rubenstein said, “The modern American market of today is requiring market makers to innovate…

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Wall Street Journal: Profile of MMI Member Hudson River Trading


The Wall Street Journal has a report out today looking at the inner-workings of a high frequency trading firm—Modern Markets Initiative…

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Bart Chilton on Bloomberg TV: MMI Principles for Effective Modern Markets


Former CFTC Commissioner and current MMI consultant Bart Chilton appeared on Bloomberg Television’s “Bottom Line” and discussed MMI’s…

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MMI CEO in Markets Media: Well-Regulated Market Better for Investors


With the SEC initiating a 12-month pilot program designed to determine whether trading the stocks of small companies in wider “tick sizes”…

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Regulators Walk Fine Line On Market Structure


MMI CEO Bill Harts says, “Based on what we’ve seen so far, we absolutely are backing Chairman White and we think that a well-regulated…

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Professional traders, HFT technology and the value provided to investors


MMI Consultant Peter Nabicht writes an opinion piece in which he asks lawmakers be aware that our financial markets have always had…

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The Case for High-Speed Trading


MMI Consultant Peter Nabicht says “Our primary message is that electronic markets are an evolution of our marketplaces.  It’s not a drastic…

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Stock Investors Can Handle the Truth


In an opinion piece MMI Member Cameron Smith says, “It’s time to recognize the fact that today’s investors can handle the truth and…

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Interview with Peter Nabicht


MMI Consultant Peter Nabicht is featured on The Options Insider discussing the legality and benefits of high frequency trading to end…

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Thank you, Michael Lewis


An Ari Rubenstein, co-founder of (MMI Member firm) Global Trading Systems, Op-Ed in which he says, “thanks to “Flash Boys,” the vast…

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Keep it Simple: Peter Nabicht on Liquidity and Simplicity of Market Structure


MMI Consultant Peter Nabicht discusses the benefits of high frequency trading.

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Flash Point: Peter Nabicht Talks HFT, Innovation and Misinformation


MMI Consultant Peter Nabicht agrees that Michael Lewis’ book Flash Boys sparked constructive debate around the current state of financial…

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MMI Member Op-Ed in Financial Times: If the market is rigged, fix the market!


Cameron Smith, president of (MMI Member firm) Quantlab co-writes an Op-Ed in which he says, “To blame computerized trading for our woes is…

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High frequency traders polish public image


MMI Consultant Peter Nabicht responds to criticisms of HFT, including how it actually lowers costs for the small investor.

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