Austin and Ram on why Wall Street has every reason to object to OKXICE: it costs almost nothing now, and if it works, ICE wins at their expense. "What's the cost of objecting…
Original source excerpt
Austin and Ram on why Wall Street has every reason to object to OKXICE: it costs almost nothing now, and if it works, ICE wins at their expense. "What's the cost of objecting right now? Right? If you…
Austin and Ram on why Wall Street has every reason to object to OKXICE: it costs almost nothing now, and if it works, ICE wins at their expense. "What's the cost of objecting right now? Right? If you object, you could always, in theory, unobject." "Clearly, OKX and ICE want to do something. Certainly, if I'm a company, I'm gonna object and see if I can be able to pay me to unobject if nothing else. Right?" "I think there's very little downside to objecting because it's not like this is already a venue driving a lot of trading volume." "If it were perpetuals, if somebody were to object to their stock, call it perpetualified if they could do that. I actually think that will have major implications because it just means the retail bid completely leaves your stock if volumes go there." Ram: "But here, if you're a market maker, you're supposed to object. If you're Goldman Sachs, you're providing financing on these assets. You're supposed to object." "If you're Charles Schwab, you custody these assets. You make money from payment for order flow. You're supposed to object. If it works, it advantages ICE tremendously."
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