Jamil Nazarali, head of execution services at Citadel Securities, appeared on Bloomberg to discuss the state of the equity markets and the future of trading. During the interview, he notes that, “today, because of a lot of the efficiency improvements, retail investors for example save more than $1 billion a year compared to the cost 10 to 15 years ago.” Nazarali, who sits on the SEC’s Equity Market Structure Advisory Committee, discussed necessary market structure enhancements, including changes to circuit breakers that impede flash crash-type events. “We are looking at individual stock circuit breakers,” said Nazarali. “They generally work well just like the circuit breakers in your house. But in a very fast moving chaotic market, like on August 24th when you have hundreds of circuit breakers tripping, they don’t turn back on that well. So one of the things we’re looking at is making that process much more smooth with more stocks trading.”
The full story is available through Bloomberg.