Right Honourable Members of Parliament, Presidents and Chief Executives, Ladies and Gentlemen,
I am delighted to have been given this opportunity to address you all this morning. This conference is very timely indeed, coming as it does during a crucial period for the financial brokerage industry. A combination of rapid technological development and increased competition between different trading facilities, coupled with major changes to the regulatory framework, means that trading techniques have evolved more over the past four years than they did in the previous twenty. With the public authorities working flat-out to reform MiFID, I think it is important that we take a step back and think about the improvements which could be madeto the regulatory framework.
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