TABB: Trump Regulatory Overhaul Could Wipe Out Reg NMS

With the election of Donald Trump, the US regulatory structure is on the verge of monumental change. Noted market structure analyst Larry Tabb looks at the enormity of the coming changes and draws realizations the range of outcomes has fat tails. There is no one strategy note that can likely cover all the coming changes and Trump is in a position to do it. For the founder of the TABB Group, the topic of Trump regulatory overhaul — which involves the Volcker Rule, Regulation National Market System (Reg NMS) and high frequency trading (HFT) — are inter-related topics that point to…