March 29, 2021· 66 min
Virtu CEO Doug Cifu Explains Payment for Order Flow and the Future of HFT
Orality
Model
50%
Speaker Breakdown
HostTracy Alloway(1,145 words)
M:29%
HostJoe Weisenthal(1,460 words)
M:28%
GuestDoug Cifu(9,928 words)
M:94%
Oral Indicators
Agonistic30%
very, definitely, obviously
Engagement84%
you, our, your
Memory Aids100%
listen, like, so
Repetition100%
know (169x), right (135x), like (111x)
Parallelism80%
And I'm Joe Wiesenthal...., But, I mean, those conversatio..., So it is true that there was a...
Sound Patterns100%
166 question(s), alliteration: "markets move", alliteration: "barclays brief"
Formulaic Phrases9%
at the end of the day, you know what, i mean
Literate Indicators
Hedging5%
may, could, probably
Passive Voice4%
is founded, is traded, is based
Abstract Nouns16%
investment, community, business
Subordination5%
unless, because, until
Sentence Length29%
Avg: 12.2 words/sentence
Word Complexity46%
investment, analyze, anticipate
Academic Markers2%
as demonstrated
Impersonal Style16%
1081 personal pronouns found
Descriptive Style79%
apply, actually, deeply
Description
When the GameStop and Robinhood story exploded at the end of January, suddenly everyone took an interest in market structure and things like payment for order flow, as well as the role that high-frequency trading shops play in enabling free retail trading. This, of course, gave rise to lots of conspiracy theories about ways retail traders are taken advantage of. On the new Odd Lots, we speak with Doug Cifu, the CEO of Virtu, which is one of the largest HFT shops in the country, to get his perspective on how this part of the market really works. See omnystudio.com/listener for privacy information.