Sometimes, people say the darndest things. Here are editorial's picks for the best quotes this year as published in Traders Magazine.
Commenting on the Bayou decision: “They (clearing brokers) can no longer shut their eyes to the activities of clients.”
Speaking to the idea of changing trade settlement cycles: “DTCC, along with the financial services industry, believes it’s an opportune time to examine the benefits of an accelerated trade settlement cycle.”
On how clearing is affected by the current trading environment: "It’s a business (clearing) built on volume. But volume has been down for the past three years.”
Commenting on the role of trade cost analysis and trading: “In the future, TCA is likely to play a role automating the trade execution process.”
Talking about the need to police dark pools: “Especially after the Pipeline incident, people are reminded of the fact that there’s not a lot of transparency.”
Speaking about order routing data: "Many buyside firms will have to think long and hard about whether they can handle all that data themselves or whether they need to work with a vendor.”
Talks about increased algo use in the small-cap space: "Capital wasn’t as available as in the past, and people were forced to do things that they may not have done in the past.”
On scoring liquidity providers: “I want to be scored. Everyone should be scored, We are headed into a world of TCA on steroids. And it’s a good world.”
Speaking on the importance of banks in forex: "They [Banks] have always been around and will continue to play an instrumental role in foreign exchange. They have to be around.”
Testifying to Senate Banking Committee: The SEC should allow companies to pay for market quality by allowing the exchanges to establish programs to reward broker-dealers for committing capital to a stock and meeting rigorous market-quality benchmarks established by the exchange."
