November Editor's Note from Dan Collins.
Katsuyama and his team at RBC devised smart order routing technology, Thor, which allowed an RBC order to hit different trading venues at the same time.
One of the main problems with the current equity market structure that pushed Brad Katsuyama, global head of electronic sales and trading at RBC Capital Markets, to apply for a new exchange, ironically enough, is that there are too many trading venues.
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come back together.