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Earl Adamy wrote:
> I assume this was said tongue in cheek because if the inmates aren't running the
> exchanges, I don't know who is.
Of course this is the case, but it certainly ought not to be.
> The exchanges exist to serve their members first
> and the public second. Stock traders have been very fortunate that the SEC has
> been so strong in insisting on a more even playing field for non-members.
I don't see it that way, though. Everyone is a member in a sense, since you can
only trade through current members. The mandate of the SEC is to ensure orderly,
efficient, and fair transactions. To a large degree this remains unfulfilled, and
the SEC needs to be much more aggressive to level the playing field even more.
> Leo
> Melamed (sp?), who was at the center of the old power structure at CBOT (ex
> chairman et al), has been virtually tarred and feathered (and literally
> threatened with death) for pushing the introduction and expansion of electronic
> trading.
Sure - and it's not hard to figure out why. Whatever the power structure, this sort
of thing is inevitable though in my view, as more people become acquainted with its
significant advantages.
Regards,
A.J.
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