New York Stock Exchange

Over Half Of Hillary's Private Meetings As Secretary Were With Donors Who Paid $156 Million

At least 85 of 154 people who met or spoke to Clinton at  State, donated to her family charity. Combined, the 85 donors contributed as much as $156 million. At least 40 donated more than $100,000 each, and 20 gave more than $1 million. Separately, she met with representatives of at least 16 foreign governments that donated as much as $170 million.

Head Of "World's Most Bearish Hedge Fund" Explains Why The VIX Is Now Broken

"When nervous investors buy VIX ETFs they actually push down the VIX, and confident investors who are short VIX ETFs encourage it to spike. Given that VIX measures often are used to guide the risk that algorithms can take, this seems very contradictory to me. I would use extreme caution when using the VIX as part of any investment process."

Hillary's Official Calendar Is "Missing" A Lot Of Entries

When the AP compared Clinton's 1,500 page official calendar with the detailed planning schedules, what the AP found was stunning. The names of at least 114 outsiders who met with Clinton were missing from her calendar, and at least 75 meetings with longtime political donors, Clinton Foundation contributors and corporate and other outside interests were not recorded or omitted from the official calendar.

Historic Volume Surge Forces Deutsche, Morgan Stanley To Shut Down Dark Pools

Following a historic surge in volume after the Brexit referendum, which sent bid/ask spreads soaring and led to a disorderly market at the European open, Deutsche Bank AG temporarily shut off outside market makers in its dark pool, SuperX. The bank told outside market makers that they would be prohibited from trading in SuperX on Friday, until the bank notified them it was ready to resume. Morgan Stanley’s dark pool was likewise turn "off" this morning as ATS operators scrambled to make sense of the broken market.

HFTs Lose: IEX Granted Exchange Status As SEC Says The Speed Race Is Over

"The Staff acknowledges that market participants using the most sophisticated technology may today encounter access delays of substantially less than one millisecond when accessing the quotes of a single exchange whose data center is co-located with their own or located nearby.  However, even the most technologically advanced market participants today encounter delays in accessing protected quotations of other “away” automated trading centers that can substantially exceed one millisecond, that either are transitory or permanent."

Is Beijing About To Put An Abrupt End To Cross-Border M&A?

Massive capital outflows from China in an effort to preserve capital is something that we've covered extensively in the past (here and here for example). Last month, China's Ministry of Commerce (MOC) came out to do some damage control, and downplayed the extent of the activity. It also hinted that the government would "help" Chinese companies with overseas M&A in the future...

As Pfizer-Allergan Sinks, These "Inversion" Deals Could Be Next

While the Pfizer-Allergan $160 billion merger may be the most notable casualty of the Treasury's decree, there are various other deals working on corporate inversion deals or who have carried out inversions in the past. They are shown in the list below,

Frontrunning: March 16

  • Trump knocks Rubio out of race, Republicans in turmoil (Reuters)
  • Fed to Signal Worst Is Over, Hikes Coming: Decision-Day Guide (BBG)
  • Four Economists See a Surprise from the Fed This Week (BBG)
  • Global Stocks Muted Ahead of Fed Announcement (WSJ)
  • Stop-Trump Groups Make One Last Bet on Rubio, and Lose (BBG)
  • China's Li Seeks 'Win-Win' for Growth-Reform Plan Analysts Doubt (BBG)