The financial markets need an agenda. The recent focus of financial market commentary has been mostly negative — excessive exchange fees, Balkanization, and fragmentation. However, fulfillment of the promise of electronic trading asks for something more than lower fees.
A consensus agenda might emerge from public discussion of proactive changes to the financial marketplace that realize the full potential of electronic trading. What realistic objectives could entrepreneurs set? What path through the regulatory maze offers the least resistance?
Why IEX and MEMX are not helpful.
MEMEX’ (the proposed new stock exchange) press release told us