1. The Head of Yale's $25 Billion Endowment is Calling out Wall Street

    The Head of Yale's $25 Billion Endowment is Calling out Wall Street
    • According to David Swensen, the head of Yale's endowment, exchanges such as Nasdaq and New York Stock Exchange pay brokers billions of dollars to send trades to their venues.
    • Wall Streeters and government officials are calling on the SEC to ban so-called rebates because they view them as inefficient for markets...
    Read Full Article

    Login to comment.

  1. Categories

    1. BoardProspects Features:

      Board Recruitment Publication, BoardBlogs, BoardKnowledge, BoardMoves, BoardNews, BoardProspects Announcements, BoardProspects CEO, CEO Blog, Competitor Corner, In the News, Member Report, Partner Publications, Question of The Week, Sponsored Content

    1. These reforms would help to strengthen alignment - rather than conflicts - of interest between brokers and clients, increase price transparency, reduce fragmentation, strengthen stability, and bring US equity markets closers to the competition mandate required by Securities Acts Amendments of 1975.
    2. This notion of banning rebates — it lacks understanding of how our market works.
    3. Let me continue by saying that when brokers receive rebates, they are still subject to best execution.
  3. Topics Mentioned

  4. Authors