Retail didn’t collapse: it rotated

The dominant narrative says retail trading “died” after the 2020–2021 boom. The evidence says otherwise: participation corrected from an unrepeatable peak, but it did not disappear — it rotated. Across instruments (from meme stocks to 0DTE options, crypto, and prop firms) and across geographies (from developed markets to emerging ones). And in Latin America that growth mostly lands outside CME/ICE listed futures. All with primary sources — figures, dates, and URLs.

The live data behind the paper

The paper rests on a platform that updates the data on its own, with source and date. Every module is verifiable live:

1. Market Share. Open interest and retail participation over time (CFTC COT).view →
2. Retail sentiment. What the average trader feels and talks about by region and language; a frozen snapshot + a separate live version. LatAm focus.view →
3. Regulation. Rule changes (CFTC, SEC, Federal Register) that shape access.view →
4. Entry barriers. Brokers, capital, and macro context (BCRA/BCB) — AR and BR as benchmarks.view →
5. Live briefing. A narrated synthesis of the modules, updated automatically.view →