Mike Aitken and Kumar Venkataraman compare the microstructure of the equity and fixed-income markets, the gorillas in the room as far as capital markets go, and explain the consequences of the lack of transparency in fixed-income markets before pointing to solutions in order to improve the fairness and efficiency of fixed-income markets.

Mike Aitken developed the world’s leading market surveillance software, SMARTS, used by most regulators to detect abusive trading practices in listed markets. Kumar Venkataraman’s article is the first step in extending this work on the integrity of markets to the fixed-income sector.

If you want expertise in the integrity of equity, derivative and fixed-income markets, contact us.

The paper is at : https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3307502