Non-displayed venues provide a sharper view of what's behind the curtain.

The price-time requirement might not be enough anymore.

Data is harder to come by in the less liquid, off-the-run Treasury securities.

Buy-side order flow may be a poisoned chalice for digital trading venues.

The secret is to have data consolidators compete with the SIPs, IEX says.

Off-the-run securities are less liquid despite comprising the bulk of the market.

Regulatory uncertainty keeps broker-dealer dreams in a holding pattern.

Price, size, and info containment are benefits of the direct streams trading protocol.

Technology exists, right now, to improve investor returns, systematically and durably.

There's a lot to cover in fixed income market structure.