Larry Tabb
@ltabb
Head of Mkt Structure Research, @BBGIntelligence. Recipient '22 STA DMP Award. Fmr. head of research & cons @TABBGroup Opinions are my own & not of @Bloomberg
Looks like Alex Gerko of XTX is calling for a dance off Jane Street Should Put Its Secret India Sauce to the Test bloomberg.com/opinion/articl…
They have had a pretty sterling reputation. Its hard to see them admitting to market manipulation. Matt Levine had a very good take on the other side of this today. Matt Levine's Money Stuff: The Indian Options Trade Was Too Good bloomberg.com/opinion/newsle…
It doesn’t look like Jane Street is rolling over. on.ft.com/3IvlrYA
Mett, congratulations! As a DMP recipient, welcome to the club. You certainly deserve it. Congrats.
STA is thrilled to announce Mehmet Kinak, Global Head of Equity Trading at T. Rowe Price, as the 2025 Dictum Meum Pactum Award recipient! Read more about Mr. Kinak's service to the industry here: conta.cc/3GZcR3Y
Excellent read. Those trying to create liquidity for inherently illiquid products should read before they get too far. Illiquidity of private securities is a feature not a bug. “Fixing” it will most likely be problematic.
New Post on the Market Microstructure Project "Market Plumbing vs. Legal Scaffolding: Why Private Credit ETFs Misunderstand Liquidity" What Inspired This Piece Over the past month, three projects have shaped my thinking on valuation and liquidity across public and private…
The stablecoin bill Congress just passed injects crypto into the part of the economy that needs to stay steady via Treasurys. A lot could go wrong. nymag.com/intelligencer/…
Getting closer to the event - July 22. Sign up now and hope to see you on Tuesday in Chicago!
If you're in Chicago next week, join us for Bloomberg's Insights & Innovation Summit. I will be moderating a panel with great folks from @CMEGroup, Geneva Trading, IMC & Driehaus on systematic trading. Also will be a lot on AI and Finance. Join us. bbgevent.app/chicago-spotli…
House sends crypto bill to Trump in historic win for industry ow.ly/kMRx106g7Bm
Sign up to join us for the global equity market outlook next week! bloomberg.zoom.us/webinar/regist…
Trump-backed crypto regulation bills fail to clear key hurdle in Congress @CNBC cnbc.com/2025/07/15/tru…
If you're in Chicago next week, join us for Bloomberg's Insights & Innovation Summit. I will be moderating a panel with great folks from @CMEGroup, Geneva Trading, IMC & Driehaus on systematic trading. Also will be a lot on AI and Finance. Join us. bbgevent.app/chicago-spotli…
House leadership has declared next week ‘crypto week’ and lawmakers will take up the GENIUS act and CLARITY act. Bloomberg’s @nathandeanDC has more on crypto legislation bloom.bg/3GHP1JX
Tim Massad isn't wrong. Congress needs to put out a framework. What's a security (SEC reg), what's a commodity (CFTC reg), what's a banking product (deposit/mmf - Fed/OCC), and what falls in the middle & determine who (if anyone) oversees that & let regulators create/extend rules
Senator Kennedy: I'm really worried we're going to get this wrong. Why is the digital asset industry so scared of being regulated by the SEC? Watch @timmassad break down why Congress needs to step up — and pass crypto rules that don’t crash the financial system.
Not unexpected Enchanting, but Not Magical: A Statement on the Tokenization of Securities - @HesterPeirce eg, if it looks like a duck and quacks like a duck..., its a duck sec.gov/newsroom/speec…
I would love to agree with you but there are a few pretty folks in the weeds that would disagree. Now I have no f*ing clue, but know, if they did, or didn't, this isn't good for Jane St.
I am not certain Jane Street truly did anything that was fraud. They took huge positions and took advantage of the sheep type nature of short term traders in India. The question is, where were the exchange position limits?
Was talking the other day with folks about this. This will be a mess for a while - guilty or not, regulators and customers will need to regain trust.
India netted Jane Street a profit of $4bn+ in just 2 years. But SEBI's ban (impounding $567mn) and a wider probe in the quirky but successful Wall St. giant's activities now threatens its global reputation & money machine. W/ @RobinWigg & @christopherkay ft.com/content/678951…
This Jane St thing is big. It ~10% of their $20b in 2024 revenue. Is it true? Was it all market manipulation? How did they allow it? I can't remember any Jane bad PR. Next moves is critical. Jane Street’s Cash Machine Comes to an Abrupt Halt in India bloomberg.com/news/features/…?
