Please note that February statements are now available on the portal. It’s been a very busy two weeks here given what is going on in the world. Front month crude oil is (as of this writing) now over $110/bbl and equities have corrected 15-20% off their recent highs. Fortunately, I am not in the business of predicting where the markets will be in months to come but rather more focused on idiosyncratic events in the market microstructure. However, what I do feel comfortable in predicting is that elevated volatility levels are here to stay and possibly the new normal. All of which is good for business. Higher volatility levels equate to more opportunity as order flow imbalances are created from all areas. So what creates the higher volatility? Uncertainty. There is so much uncertainty in the world right now which leaves higher time frame investors nervous and that trickles down into imbalanced order flow – all of which is good for higher frequency traders.