Seth Marin
Showing 1–3 of 3 transcripts.
- Milken Institute1h 1m
The Shifting Sands of Market Structure: Equity Trading in the Spotlight
Kevin Cowan, Stephen McCauley, Seth Marin, Sianna Mastofi, Jamil Nazarelli, Jatin Suravanshi
A panel of financial experts critically evaluated SEC Chair Mary Jo White's thirteen directives on market structure, debating the efficacy of policies like the Tick Size Pilot while highlighting risks posed by the proliferation of off-exchange trading venues. Discussions revealed significant industry opposition to specific provisions that could transfer wealth from investors to dealers, alongside concerns that high data costs and a lack of institutional disclosure standards act as hidden taxes on market efficiency. As regulatory deadlines approach in May, the consensus emphasizes the urgent need for empirical evidence-based reforms to address systemic issues in capital formation, ETF concentration, and the fragmentation of liquidity across lit and dark pools.
- Milken Institute1h 0m
Speed to Market: The Evolution of Trading
Chris Brummer, Seth Marin, Jamil Nazarali, Joe Ratterman, Fred Tomczyk, Greg Toussart, Adni DePaulo
A panel of industry leaders debated the dual impact of high-frequency trading, highlighting record-low commissions and faster execution for retail investors against the significant execution challenges and information leakage faced by institutional buyers. While participants agreed that automation and regulatory measures like Limit Up/Limit Down have improved market efficiency, they disagreed on whether the current "arms race" for speed creates a fair environment or merely favors those who can afford co-location infrastructure. The discussion underscored a fundamental tension between the benefits of price discovery for small investors and the need for new liquidity obligations to protect large-scale market participants.
- Milken Institute58 min
Access to Global Capital: Investing in Growth
Seth Marin, Jay Ireland, Jalal, David Bonderman, Bill Pierce, Mindy
The Milken Institute launched its Access to Global Capital Initiative to mobilize private investment into four target nations—Rwanda, Indonesia, Poland, and Colombia—by leveraging improved governance to replicate Singapore's economic transformation over a 20-year horizon. The program addresses a stark capital concentration in the West by prioritizing countries that demonstrate political stability, rule of law, and anti-corruption measures to attract multinational supply chains. Key success factors identified for investors include reliable infrastructure, consistent fiscal policies, and a workforce capable of supporting long-term development, with oversight supported by development finance institutions like OPIC.