Orbis Securities

Institutional
Research

Original microstructure, volatility, and execution research from the Orbis trading desk.

Tier 1 Aggregation: Why LP Selection Outperforms LP Count

Tier 1 Aggregation: Why LP Selection Outperforms LP Count

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Mark-Out Analysis: Reading Execution Quality Beyond the Spread

Mark-Out Analysis: Reading Execution Quality Beyond the Spread

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Last Look Economics: What Optionality Costs the Hedge Side

Last Look Economics: What Optionality Costs the Hedge Side

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APAC FX Microstructure: Order Flow in the Sydney-Tokyo Window

APAC FX Microstructure: Order Flow in the Sydney-Tokyo Window

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Crypto OTC: How Institutional Liquidity Differs from Retail Exchange Books

Crypto OTC: How Institutional Liquidity Differs from Retail Exchange Books

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Cross-Product Margin Stacks: Capital Efficiency in Multi-Asset Books

Cross-Product Margin Stacks: Capital Efficiency in Multi-Asset Books

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