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Data suggests the U.S. stock market is the most liquid and cheapest to trade in the world, but is it fair to compare Apple to Nokia? We adjust for company size and find that, although the U.S. is good, China and Korea might be even better: nasdaq.com/articles/is-th… #MarketMakers

Stock markets are open for a fraction of the day. However, just because the market is closed doesn’t mean valuations don’t change. We look at returns from holding stocks intraday vs. overnight. The difference over 30 years is night and day: nasdaq.com/articles/like-… #MarketMakers

U.S. regulators established rules to disclose how large short-sell positions are and how much trading is short-selling. The rules and data show that liquidity providers are active intraday, keeping markets efficient and spread costs low: nasdaq.com/articles/a-dee… #MarketMakers

Our updated Nasdaq IPO Pulse Index is still rising, reaching a 2½-year high in March. That's a positive for the market, suggesting IPO activity should remain in an uptrend: nasdaq.com/articles/keepi… #MarketMakers

Technology has transformed the global capital markets. Today, quotes & trades travel over microwaves, lasers & optic fibers–at close to the theoretical speed of light. But there are trade-offs. For example, fiber is slower but more reliable: lnkd.in/eU9-H3uB #MarketMakers

Most people think of risk in terms of losses, but practitioners generally use statistical measures. Either way, risk & return are fundamental tradeoffs for investors. Investors should know there are several ways to reduce risk in a portfolio: nasdaq.com/articles/diffe… #MarketMakers

Diversification is important for investors, reducing risks without reducing expected returns. That’s 1 reason why ETFs have become popular. Also, creating a small portfolio with volatility similar to the market is easier than you might think: nasdaq.com/articles/risk-… #MarketMakers

The annual Russell Recon (on June 28) is important for small-cap companies. Being added to the Russell 2000 means you're part of the larger Russell 3000 index; because those companies are part of major fund benchmarks, the turnover is higher: nasdaq.com/articles/russe… #MarketMakers

New research proves consolidated tapes can’t be pre-trade and quantifies the costs that fragmentation adds to investors. It’s also a reminder that markets should reward price setters for setting prices if they want a BBO that matters: nasdaq.com/articles/can-y… #MarketMakers

So far in 2024, roughly 100 U.S. IPOs have a trade-weighted return of over 15%. Our latest update to the Nasdaq IPO Pulse, which rose to a three-year high, suggests the recent pick-up in IPOs should continue into the second half of the year: nasdaq.com/articles/ipo-r… #MarketMakers

ETFs trade a lot and without much impact on underlying stocks. In fact, the value of creations and redemptions is a fraction of the value of ETF trading, which seems to confirm that typically, an ETF buyer trades directly with an ETF seller: nasdaq.com/articles/2024-… #MarketMakers

ETFs are one of the most successful financial innovations of the last 30 years. There are now ~3,500 ETFs with assets totaling around $9 trillion, giving investors access to new asset classes, diversified portfolios and low cost trades: nasdaq.com/articles/2024-… #MarketMakers

In our third Interns Guide of 2024, we look to demystify trading. What is a bid, offer, spread, mark-out, opportunity cost and adverse selection? We show why most trading decisions are trade-offs between trade cost and execution speed: nasdaq.com/articles/2024-… #MarketMakers

Options let you insure your position or portfolio from losses & increase portfolio income by selling premiums, changing the risk-return or yield of an investor portfolio. It's likely why there are so many new ETFs with options in the market: nasdaq.com/articles/2024-… #MarketMakers

Data suggests Nordic equity markets work better than other European regions, helping finance Nordic companies coming to market. Right now, Nasdaq's Stockholm IPO Pulse shows continued growth in IPO activity in Stockholm as we close the year: lnkd.in/e58Gs66u #MarketMakers

With the SEC releasing new rules on ticks, access fees & round lots, we added to the industry data on how ticks impact market quality. The findings suggest we must weigh the costs of retail & institutional investors & ticks are a trade-off: nasdaq.com/articles/tick-… #MarketMakers

Equity futures trade more than stocks, but how much does futures arbitrage cause stocks to trade? When multiple S&P stocks trade at once-a sign of arbitrage-we see that arbitrage is using an optimized basket to stocks, adding ~$8.4b daily: nasdaq.com/articles/looki… #MarketMakers

Data suggests many households have spent their Covid savings, but we see that retail trading in stocks and ETFs market remains a material proportion to market. In short, retail is an important source of liquidity for many stocks and ETFs: nasdaq.com/articles/retai… #MarketMakers

I'll be speaking at Singapore FinTech Festival, the global gathering of policy, finance, and technology communities on 11/6-11/8. I'm happy to share a 20% discount on tickets with my network through this link: sff2024-registration.personatech.com/code?cId=c2Zmc… Hope to see you there!

Country of Incorporation is an easy data point to collect—but it says more about where a company’s founder grew up. If you’re a company with foreign founders but large U.S. operations, and you’d like more access to U.S. capital markets: nasdaq.com/articles/class… #MarketMakers