Times may be uncertain, but one thing remains true: there is power in people coming together. That is why TradeTech is back in April 2021 with our flagship edition of the largest buy side equity trading virtual event.

Only here can you learn from, and network with, Europe’s leading buy side heads of trading as they reveal insights into how to:

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Quote Depletion Protection (QDP) for Midpoint Discretionary Orders (MDO) is a popular order type for market participants who aim to avoid adverse selection while accessing hidden liquidity. MDOs allow participants to post displayed or non-displayed liquidity at the National Best Bid or Offer (NBBO) with discretion to execute up to and including the midpoint of the NBBO. By pairing a QDP instruction with an MDO, brokers may be able to minimize potential outliers and protect themselves from adverse selection.

In January, Cboe rolled out an enhancement to QDP to reduce the opportunity cost of missing liquidity and increase the likelihood of executions while maintaining the desired outcome of mitigating adverse selection. In the two months since implementing this change, Cboe has observed improved executions in orders using QDP.

A concise weekly overview of the U.S. equities and derivatives markets

Last week (April 19 to April 23), the Healthcare sector led the pack, increasing 2%, as Energy lagged, decreasing 1.55%. U.S. equities traded in a narrow range and across the board ended the week in-line with last Friday. News of a potential change to the capital gains tax rate for high earners caused some short-lived volatility in the second half of Thursday’s trading session. Earnings season continued with Netflix, United Airlines and Southwest Airlines reporting last week. Netflix subscriber growth underwhelmed but both airlines have seen a jump in travel demand. Meanwhile, initial unemployment claims data fell to the lowest levels since March 2020 and median home sale prices reached new all-time highs.

Cboe Chairman, President and CEO Ed Tilly commemorates the company’s 48th anniversary by celebrating its people

Today marks Cboe Global Markets’ 48th anniversary. As I place the past year in the larger context of Cboe’s storied history, I am incredibly proud of the extraordinary adaptability of our people in the face of unrelenting challenges. Our associates and customers around the globe transitioned to working from home on a moment’s notice and quickly adapted to entirely new work and trading environments. We came together to fine-tune systems and processes, discover new ways of communicating and, most importantly, show our support for one another.

As we embark on our 49th year in business, I’d like to share more about our people – how this past year and our recent growth demonstrates the resilience of Cboe associates and why they make me believe in our vision for the future.

On March 25, Cboe’s Laura Morrison, Senior Vice President, Global Head of Listings, hosted Cathie Wood, Chief Executive Officer and Chief Investment Officer of ARK Investment Management, Jan van Eck, President and Chief Executive Officer of VanEck Associates Corporation, and Kevin O’Leary, Chairman of O’Shares ETFs, for a lively conversation about the financial industry today and current events that may impact the market in 2021. The dynamic group shared their perspectives on what may be ahead in 2021, the rise of cryptocurrencies and retail trading, the post-pandemic market outlook and more.

On March 25, Cboe’s Laura Morrison, Senior Vice President, Global Head of Listings, hosted Cathie Wood, Chief Executive Officer and Chief Investment Officer of ARK Investment Management, Jan van Eck, President and Chief Executive Officer of VanEck Associates Corporation, and Kevin O’Leary, Chairman of O’Shares ETFs, for a lively conversation about the financial industry today and current events that may impact the market in 2021. The dynamic group shared their perspectives on what may be ahead in 2021, the rise of cryptocurrencies and retail trading, the post-pandemic market outlook and more.

VIX futures and options have unique characteristics and behave differently than other financial-based commodity or equity products. Understanding these traits and their implications is important. VIX futures and options may provide market participants with flexibility to hedge a portfolio, employ strategies in an effort to generate returns from relative pricing differences, or express a bullish, bearish or neutral outlook for broad market implied volatility.

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A concise weekly overview of the U.S. equities and derivatives markets

Last week (April 5 to April 9), U.S. equities continued their historic ascent. The ISM Manufacturing Index data hit 37-year highs, expanding at a rate not seen since 1983. Meanwhile, the Biden administration introduced the “American Jobs Plan,” which is focused on infrastructure, clean energy and manufacturing, and includes $2.25 trillion in potential spending over the next eight years. Additionally, vaccination efforts continue to improve, with the seven-day average at 3 million doses per day. However, despite strong vaccination rates, new COVID-19 cases ticked higher last week, likely due to variant strains and increased interaction.