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Baseball and financial markets: The need to evolve

Adam Dener (Partner, Capco, New York City, USA; adam.dener@capco.com)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 1 January 2004

145

Abstract

The corollary between the issues facing both major league baseball and its balance of power and Wall Street’s current trials and tribulations around specialist models, compensation, and governance is telling. Both require a scorecard as well as historical and political perspective. The industry should take the lead, willingly, to initiate and manage its own transformation and can start by ensuring the separation of place and process in all financial markets. Market making is decidedly different from other exchange activities like listing and trading services. The industry should create and adopt independent oversight bodies to audit its self‐governance functions with a particular focus on market‐making activities as well as oversight of how and where securities are listed and traded regardless of venue. Finally, the industry should truly embrace competition and limit self‐dealing ‐ and eliminate the perception of it ‐ thereby restricting participants from markets where their access creates moral hazard.

Keywords

Citation

Dener, A. (2004), "Baseball and financial markets: The need to evolve", Journal of Investment Compliance, Vol. 4 No. 4, pp. 79-81. https://doi.org/10.1108/15285810310813310

Publisher

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Emerald Group Publishing Limited

Copyright © 2004, MCB UP Limited

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