This is a 🎁 gift link to a highly-recommended (by me) Bloomberg article.
Click here to view
High-frequency trading firms are stepping out of the shadows and into direct relationships with asset managers. This Bloomberg article shows how Optiver's Oscar van Schaijk is leading a transformation in equity trading by establishing bilateral connections with buy-side investors—effectively cutting out traditional intermediaries/exchanges - mirroring FX market structures.
This is gaining significant traction, with Optiver's trading income surging 26% to €3.5 billion last year. While asset managers like T. Rowe Price and Ninety One embrace these arrangements for better pricing and liquidity access, regulators and exchanges are getting concerned about market fragmentation and price discovery.










