Market microstructure
- Simple simulations of limit order books
- Effects of different fee and rebate structures
- Intraday liquidity patterns in public data
Research notes
The Academy's research stream focuses on small, transparent projects: answerable questions, reproducible code, and honest write-ups of what did—and didn't—work.
Methods over "market calls."
Each research note is built around a concrete question: a pattern in historical data, a behavior in a simple model, or the behavior of a tool in a realistic workflow.
The emphasis is on methodology: how the data was gathered and cleaned, which models or transformations were applied, and what caveats are large enough to change the conclusion.
In some cases, insights from this work may inform internal discussions at ABX Capital Partners, but the notes themselves are always published at an abstract, educational level.
Example research themes
Topics evolve over time, but many fall into one of three categories: market structure, signals & behavior, and tools & infrastructure.
Signals & behavior
- Time-of-day effects in selected instruments
- Comparing naive, rolling and regime-aware measures
- Behavior of simple risk controls under stress scenarios
Tools & infrastructure
- Benchmarking data pipelines and basic ML workflows
- Impact of data revisions and survivorship bias
- Using language models to assist with documentation
What research notes are not
Research notes are not investment research in the regulatory sense. They do not recommend positions, strategies, or trades, and they are not updated continuously.
Every note includes a prominent statement that it is educational only, and that any numbers, charts, or simulations are illustrative, simplified, and incomplete by design.