Peter Maragos
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Rebate Debate Misses the Mark

Dash Technologies' Peter Maragos weighs in on the market rebate debate - saying there is nothing intrinsically wrong with rebates, per se. However, there is a problem with the brokerage industry’s dominant fee model.

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STA Annual Conference Sets Sail

Participants are gearing up for the Security Traders Association's 78th annual conference, which will include such speakers as Jamie Selway of Investment Technology Group, Dan Mathisson of Credit Suisse and Todd Lopez of Goldman Sachs.

The conference, which will run from Oct. 12 to Oct. 15, is being held at The Breakers resort in Palm Beach, Fla. About 450 registered attendees are expected, and there will be approximately 20 booths for vendors.

Jim Toes, president and chief executive officer of the STA, said he was excited about the topics being discussed this year and the high-caliber people participating.

"The topics that we've chosen, the people that we've chosen, are very timely for what is going on right now," Toes said.

Last year, Robert Gasser, president and chief executive officer of ITG, caused a stir at the conference when he suggested that traders who are big users of quote messaging should pay for their share of the quote traffic they generate.

This year Selway, a managing director at ITG, will be moderating a sellside panel on Thursday. Other speakers on Thursday will include Richard Ketchum, chairman and chief executive officer of the Financial Industry Regulatory Authority, and Chris Mirabile, cofounder of the social networking site The

On Friday, Mathisson, head of electronic and program trading at Credit Suisse, will speak on high-frequency trading. Friday will also include a speech by Rick Santelli, an on-air editor for CNBC, and a regulation panel moderated by Linda Lord, head of U.S. legislative and regulatory affairs for UBS.

Todd Lopez, co-head of Americas sales for Goldman Sachs Electronic Trading, will moderate a buyside panel on Saturday aimed at demystifying the broker vote. David Zervos, chief market strategist at Jefferies & Co., will also give a speech entitled "The Bernanke Put," and Rick Knox, founder of Capital Markets Research, will give a speech on forecasting macro trends.