Research preview

Gold’s recent surge to become the world’s largest reserve asset challenges the long‑standing dominance of the U.S. dollar. For quantitative traders, this shift is more than a headline; it alters the backdrop against which ultra‑fast trading strategies compete for micro‑profits. Understanding the mechanics of latency arbitrage and its impact on market liquidity is essential for adapting models and risk controls in a changing macro environment. The Reserve‑Asset Transition and Its Market Implications The ascent of gold as the top global reserve asset signals a reallocation of sovereign and institutional holdings....