Commentary

Ivy Schmerken
Traders Magazine Online News

MiFID II Reaches Across the Pond: Is This the Calm Before the Storm?

Despite the view that MiFID II is a European regulation, US investment managers are experiencing disruption as they align their research payment and execution practices with the influential standard.

Traders Poll

As the SEC Tick Pilot is soon to expire, in your opinion, was it a solid fact finding mission or folly?



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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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