Blog
Long-form writing on what I'm learning and shipping.
2026
CME Group: the clearing house is the moat, and open interest is the cornered resource
v1Published 2026-07-10Updated 2026-07-10CME Group: the clearing house is the moat, and open interest is the cornered resource > Method note: Fact = drawn directly from the 2026-07-10 source packet (SE…
CME Group: the toll bridge that gets paid on both fear and greed
v1Published 2026-06-12Updated 2026-06-12CME Group: the toll bridge that gets paid on both fear and greed CME Group is not a bank. It is not a broker. It is not a hedge fund. It is the venue — the plac…
CME Group: the toll bridge that gets wider every time someone trades
v1Published 2026-06-12Updated 2026-06-12CME Group: the toll bridge that gets wider every time someone trades Most people think of exchanges as neutral venues where buyers and sellers meet. That is tru…