17 August 2017
Find out more

North American wholesale market brokers form association

14 July 2009  |  1806 views  |  0 Source: Wholesale Markets Brokers' Association Americas

North America's leading inter-dealer brokers announce today the launch of a new association to promote the quality and standards of the industry and a better understanding of the critical role played by wholesale brokers in the efficient functioning of financial markets.

The five founding members of the Wholesale Markets Brokers' Association Americas Inc. (WMBA Americas) are: BGC Partners; GFI Group; ICAP; Tradition; and Tullett Prebon.

The association seeks to work with Congress and key public policymakers on future regulation and oversight of over-the-counter (OTC) markets and their participants.

By working with regulators to make OTC markets more efficient, robust and transparent, the association sees a major opportunity to assist in the monitoring and consequent reduction of systemic risk in the country's capital markets.

"We look forward to representing the interests of the wholesale broker community in order to preserve and enhance the strengths of our markets," said Chris Ferreri, chairman of WMBA Americas. "Wherever appropriate, we will assist and work with regulatory bodies and other financial institutions to achieve this objective."

Mr. Ferreri noted the success of the WMBA in the U.K., and, in particular, its ability to interact and participate in discussions with regulators throughout Europe. He said the organization would serve as an excellent model on which to build the North American organization.

Mr. Ferreri pledged to work closely with the U.K. organization as well as other related associations to seek consistent global regulation and oversight of financial markets wherever possible.

The association is in the process of incorporating and is represented by Patton Boggs LLP in Washington, D.C.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comdownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9977 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9954 views comments | 8 tweets | 15 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8297 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7748 views 0 | 1 tweets | 9 linkedin
PayPal buys Swift Financial to boost working capital bizPayPal buys Swift Financial to boost worki...
7690 views comments | 13 tweets | 7 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job