Let Citadel Group Electronify Derivatives Trading

From the New York Times: A Secretive Banking Elite Rules Trading in Derivatives by Louise Story
"Mr. Griffin (Citadel Group) said last week that customers have so far paid the price for not yet having electronic trading. He puts the toll, by a rough estimate, in the tens of billions of dollars, saying that electronic trading would remove much of this “economic rent the dealers enjoy from a market that is so opaque.”

“It’s a stunning amount of money,” Mr. Griffin said. “The key players today in the derivatives market are very apprehensive about whether or not they will be winners or losers as we move towards more transparent, fairer markets, and since they’re not sure if they’ll be winners or losers, their basic instinct is to resist change.”

*Read Zero Hedge's response: Secret Banking Derivative Cabal Redux, And Why HFT In CDS Has So Far Been A Failure (CDS contract notional values in $1K increments coming to an online brokerage near you!)

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