Marcus Vale
Premium-tier postApr 27, 2026 · 6 min read
Fed spreads are only real after the rule card clears
A 3c cross-venue gap is not enough. You need outcome equivalence, fee-adjusted depth, and release timing before it becomes tradable.
What I keep coming back to is cross-venue normalization and release-source monitoring for traders who need clean, executable comparisons. The reason I am flagging it today rather than next week is that the behaviour has started to compound rather than oscillate, which is usually the tell that the underlying positioning is already moving.
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