It's Darkest in the Middle of the Day An amazing milestone was passed in 2025: It was the year when off-exchange market share increased above 50%.But looking at price discovery during the day, lit trading is even lower.Interestingly, we find that the market is the darkest in the middle of the day.Lit price discovery falls to 30% of continuous tradingA lot of...

US Senate to vote on Trump's war powers as Iran conflict continuesGetty ImagesThe US Senate is set to vote on a war power resolution aimed at limiting President Donald Trump's ability to order further military action in Iran.The measure would require the withdrawal of US forces from the conflict unless Congress approves the operation. But previous efforts have failed, and it is unclear how much...

France blocks government access to the U.S. Ambassador FILE - U.S. Ambassador to France Charles Kushner gives a news conference marking the 250th birthday of the U.S. in 2026, in Paris, Dec. 4, 2025. Christophe Ena/AP...

Son of Norway's crown princess chokes back tears giving evidence at rape trialPaul KirbyEurope digital editor in OsloNTB/Ane Hem/via REUTERSMarius Borg Høiby is giving evidence after the first woman he is alleged to have raped told the court she believed she had been druggedThe son of Norway's crown princess has begun giving evidence at his trial for rape and more than 30 other alleged...

The great computer science exodus (and where students are going instead) Something strange happened at University of California campuses this fall. For the first time since the dot-com crash, computer science enrollment dropped. System-wide, it fell 6% this year after declining 3% in 2024, according to reporting this past week by the San Francisco Chronicle. Even as overall college enrollment...