Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

Traders Poll

What is your favorite movie about trading?

Wall Street

23%

The Big Short

13%

Margin Call

6%

Equity

0%

Trading Places

38%

The Wolf of Wall Street

8%

Boiler Room

7%

Arbitrage

0%

Too Big to Fail

5%

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May 31, 2002

GAO Report On Securities Markets

By Gregory Bresiger

From the GAO report, Securities Markets: Competition and Multiple Regulators Heighten Concerns about Self-Regulation:

"Demutualization is expected to enhance the ability of markets to compete by enabling them to raise capital in the securities markets to fund business efforts and by better aligning the economic interests of markets and their owners. Under current member-owned structures, actions markets might otherwise take to enhance their competitiveness might be rejected or adopted very slowly by member-owners that do not perceive a direct benefit from them. For example, member owners (that is, broker dealers) that derive income from acting as intermediaries in the trade execution process might be reluctant to support the introduction of technology if it reduces their income from acting as intermediaries."

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