19 February 2018
Visit www.avoka.com

North American wholesale market brokers form association

14 July 2009  |  1856 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.vasco.comvisit www.swift.com/your-needs/instant-paymentsvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11506 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9062 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8922 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8816 views comments | 15 tweets | 43 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7453 views comments | 12 tweets | 10 linkedin

Featured job

Competitive
Hong Kong, Asia-Pacific

Find your next job