Robust Analysis and Independent Expertise

Free of conflicts
Backed by evidence and
market surveillance software solutions

Are fixed-income markets integrity challenged?

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

Professor Venkataraman examines the impact of order routing to affiliated ATSs on execution outcomes.

Their analysis offers perspectives on how brokers handle the tension between the incentives to route to their ATS and their obligations to provide best execution to their clients, shedding light on the relation between venue ownership, broker routing and execution outcomes.

The DaVinci Case: Spoofing and Layering.

“Australian technology and analysis has been used to crack a case involving traders using high-frequency strategies to manipulate markets in Europe and the UK.” – MondoVisione

Cases

Capital Markets Consulting’s expertise and supporting technology delivers unrivalled credibility in complex cases. These include:

WM/Reuters Benchmark Rates, 2018

Expert:  M.J. Aitken w/ S. Ji We provided expertise in the design, analysis and alert specifications for the market surveillance of foreign exchange markets. Description: market surveillance for foreign exchange markets: design, analysis and alert specifications

“Professor Mike Aitken of CMCRC is impressive in his own right as an expert witness. When backed up with the data from his brainchild SMARTS, he is a surveillance icon.”

Patrick L Young