Equities Leaders

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What a week it was at #ELS! We are grateful to all speakers, sponsors and delegates for their time, insight and enthusiasm. Of course, Miami in December wasn’t so bad either 🌴 See you next year!

“There’s little education on what China does to infiltrate US businesses..But looking ahead it seems both parties recognize that they need each other. I would never advise someone not to invest in China. You just need to be smart about it.” Heather Heldman @LuminaeGroup at #ELS

“Rather than saying we’ve entered a new Cold War with Russia, I would argue that the Cold War never really ended...Russia’s long-term goal of being part of the small group of global hegemons has never wavered.” Heather Heldman of @LuminaeGroup speaks on geopolitics at #ELS

“We have technology now that enables us to trade from anywhere. We should be allowed to do so, but we just have such a rigid infrastructure, and the industry should really look at that.” Eden Simmer of @PIMCO speaks on flexibility and work/life balance at #ELS

Thank you to @EquitiesLeaders for giving our CEO, Jonathan Kellner, the opportunity to discuss our mission and share what we are doing to improve the markets for all participants. #ELS

"The reality is if you don’t know who’s going to be regulating it, you can’t do anything...Another issue is: how can laws that were written before the invention of the computer serve an asset class that is 100% digital?" @daveweisberger of @coinroutes on crypto regulation #ELS

"Where we are now is the Wild West, and the exchanges that exist are essentially ATS’s…As this space matures, it’s really going to end up being more of a marketing game than a technology game." James Haft of PALcapital on the state of #crypto exchanges at #ELS

Thanks @rdreeke for a compelling presentation at #ELS: "5 Steps to Trust." This 20-year FBI agent drew upon his experience to show our delegates how they can more effectively gain the trust of others

"One of the good things of MiFID II is that it forces us to talk about consumption habits, who is relevant and who is not. Even though my firm is not subject to MiFID II, it sparked important conversations about how we interact with the sell side." - Carlos Oliveira, Brandes #ELS

"We frequently talk with European regulators, especially Esma…There is an active dialogue about the wording and effects of various actions the commission has taken, including on unbundling and actions that could affect smaller firms." Brett Redfearn (@Observatory13) at #ELS

"Mifid ii is what happens when regulators lock themselves in a room and come up with a solution without gauging the wider market…What happened here was a big step that didn’t take into account where the market was. It also didn’t take into account US law." - @SECJackson at #ELS

"There has been healthy dialogue between the SEC and the industry. For the first time in a long time, people are taking a step back and asking ‘How did we get here? Is this a competitive market structure?’" @SECJackson weighs in on the state of market structure debate at #ELS

"The real challenge is in navigating how complex the paradigm currently is, and getting people to incorporate new solutions into their trading activity. I would like to see all new venues coming to market clearly explain their value proposition." - Amy Hong, @GoldmanSachs #ELS

"96% of the on exchange flow is controlled by three companies…Competition brings innovation. We’re starting from scratch with the latest and greatest technology. It will also force the other exchanges to innovate and everyone will benefit." Jonathan Kellner of @memxtrading #ELS

"The rule passed this year allows asset managers to get involved with this space even more quickly..That proliferation does muddy the waters in terms of due diligence, but it also helps the tradeability and liquidity profile of these ETFs" Robert Forsyth @StateStreetETFs at #ELS

"There are a lot of factors to consider when selecting which ETF to invest in…The evaluation of those products is critical. There are so many to choose from, and much of the decision will boil down to your priorities: liquidity, etc." – Robert Forsyth, @StateStreetETFs at #ELS

"If you’re running trading or operations, you must be flexible. You must have short lines of communication. If something happens, you can have a gameplan from a systems/sanctions perspective that will position your firm well no matter what." – Richard Lacaille, @StateStreet #ELS

Day 1 at #ELS was full of highlights, from our outstanding panelists to connecting with colleagues in sunny Miami. We’re excited to kick off Day 2 in just a few minutes!

“The head of the trading desk wears many more hats than they used to. In addition, with the rise of technology, and through either attrition or just cutting down, you can get a lot more out of your desk than you used to.” Bill Skutch of Scopus Asset Management at #ELS