Our trading and underwriting business were down from record first-half levels in an increasingly difficult environment.
More Quotes from John Thain:
The NYSE is by far the largest market, it is the most liquid market, we have the best price 93 percent of the time, but one of the things we're not is the fastest. And some of the big institutional customers have said they want the ability to trade quickly and with a high degree of certainty and we're going to give them the ability to do that.John Thain
Along with most other participants in the financial-services sector, certain key businesses were negatively impacted by the turmoil in the global financial markets, including, in particular, our credit and relative trading activities.
John Thain
The costs of 404 have been much higher than anyone anticipated. Based on feedback from our listed companies many companies would say that the benefits achieved aren't worth the costs.
John Thain
We will provide customers with more choice in trading, an advanced technology platform, a broader product mix, and listing opportunities among a wider group of companies.
John Thain
Over time, all of the markets should be combined.
John Thain
By having a high market share like we have today, we offer the most liquidity and the best prices. If that were to dramatically fragment, you lose the liquidity and the pricing.
John Thain
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